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American International Group Inc. and Carlyle Group LP are partnering to build AIG's DSA Reinsurance Co. Ltd. into a stand-alone provider of reinsurance, claims handling and run-off management solutions for long-dated, complex insurance risks. As part of the transaction, Carlyle will acquire a 19.9% stake in DSA Re.
Humana Inc. reported second-quarter adjusted consolidated pretax income of $812 million, or $3.96 per share, compared with $942 million, or $3.49 per share, in the prior-year period. Its GAAP consolidated pretax income dropped to $19 million from $1.04 billion, on the back of a $790 million disposal-related charge. The company raised its full-year adjusted EPS forecast to around $14.15 from a range of $13.70 to $14.10.
Generali reported a first-half consolidated result attributable to the group of [euro]1.33 billion, up 8.8% from the year-ago period, as net earned premiums rose 5.8% to [euro]32.70 billion. The Italian insurer also said group CFO Luigi Lubelli will step down as it unveiled changes to executive responsibilities within its organizational structure.
U.K.-based Direct Line Insurance Group PLC reported first-half consolidated net profit attributable to owners of the company of £238.8 million, down from £275.5 million a year ago. The insurer said CEO Paul Geddes will step down in summer 2019.
Richmond, Va.-based Genworth Financial Inc. reported second-quarter adjusted operating income of $200 million, or 40 cents per share, an increase from $151 million, or 30 cents per share, in the second quarter of 2017.
China Reinsurance (Group) Corp. expects an...