Aetna acquires Omaha’s Payflex. Move may have economic implications

Health insurance giant Aetna Inc. has announced plans to purchase Payflex Holdings Inc., an administrator of health savings and flexible spending accounts in the health care industry. The purchase will set Aetna back by $202 million, but shows that the company has plans to expand their operations despite the changes coming to the industry. The deal may have deeper meaning as well, which may have roots in the state of the economy. Brian Gilbreath, president of the Nebraskan Association for Corporate Growth, says that there is growing confidence in the…

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State Farm joins other major insurers in reporting significant spring storm losses

Claim representatives from State Farm have announced that as a result of the devastating storms that occurred in April and May of this year, the insurer paid out almost $1.75 billion to its customers. In under three weeks’ time, the total claim payments made by State Farm have come close to doubling. This announcement closely follows that of the largest publicly traded American home and auto insurer, Allstate Corp., which reported its April and May losses at about $2 billion after the severe thunderstorms and tornados in those months alone…

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International insurance business reports good outlook

Ageas, a Belgium based insurance company, is predicting financial gains in 2011 after experience severe declines in profits in the previous year. The company cites the sale of its non-core businesses and clever investments in growing sectors as key contributors to improved financial performance this year. Ageas operates as AG insurance in Belgium and provides insurance to Tesco, the prominent supermarket chain in Britain. The insurer reports that earnings on life insurance fell by 9% in 2010. This is due, in part, by a tax benefit established in 2009. Non-life…

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