CVS Health called “insane” for attempting to step into insurance industry

CVS Health insurance

Wall Street Analysts are baffled by the pharmacy and drug store chain’s potential Aetna purchase. CVS Health revealed its intentions to purchase nationwide insurance provider, Aetna. This would represent the company’s first steps into the health insurance industry. At the same time, it has Wall Street analysts puzzled over the decision. This entry into health insurance within the current atmosphere has analysts completely confused. Jeffries health care desk analyst, Jared Holz, called the CVS Health decision “insane.” Moreover, he also said that this move to acquire Aetna has arrived much…

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USI acquires Best Insurance Company from Florida

Insurance Company standards financial federal reserve

The Insurance services firm has now purchased the homeowners, auto, motorcycle, watercraft and boat insurer. USI Insurance Services has now revealed that it has acquired the Best Insurance company, which is headquartered in Tamarac, Florida, and sells a range of different types of coverage within the state. The Best Insurance sells several different kinds of coverage to customer in Florida, North and South Carolina and Georgia. The terms of the purchase of the insurance company had not been disclosed at the time of the writing of this article. The Best…

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Mergers among health insurance companies could drive rates skyward

health insurance companies profits

The American Medical Association has said that the reduction in competition will raise rates. The American Medical Association (AMA) has recently released the results of a study that claims that most health plan markets in the United States are currently led by a small number of insurance companies that may become even fewer with the current trend of mergers and acquisitions. The organization representing doctors and hospitals is criticizing the impact of this market shrinking. The reason is that they feel that if the current intentions of insurance companies to…

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Largest health insurance acquisition ever of Humana by Aetna

Health Insurance company merger Aetna

This is the largest deal that the industry in the company has ever experienced, as the rivals combine. American health insurance company, Aetna Inc. has now announced that it will be purchasing its smaller competitor, as it enters into the largest industry deal that the country has ever seen. The purchase is being made for approximately $37 billion in cash and stock, according to initial reports. Once these two health insurance companies are joined, it will bring Aetna considerably closer to the second place position that is currently held by…

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International insurance acquisition made of Ireland’s largest insurer

international insurance deal Ireland and Canada

Irish Life Insurance will be purchased by Great-West Lifeco, an insurer that is headquartered in Canada. Great-West Lifeco, Inc. has just announced its latest international insurance acquisition, with the purchase of the largest insurer in Ireland, Irish Life Group, for a total of $1.75 billion. This deal has now been officially announced after having had to receive official approval. The Government of Ireland had to give its approval of the international insurance deal, as it took on the largest life insurer in Ireland in the summer of 2012, after its…

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Insurance news brings Permanent General into the American Family fold

property insurance news

The large insurer has now completed the acquisition that it had previously announced. American Family has made insurance news by completing the acquisition of Permanent General Companies, as well as other PGC Holdings Corp. subsidiaries. The purchase of the Tennessee based company had been previously announced and have now been completed. The transaction was for a reported $239 million, which was paid to Capital Z Partners, the previous majority owner. It had been awaiting its final step in order to close the insurance news deal, which was the approval from…

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Nationwide in talks to purchase Harleysville Group, deal has insurance agents on edge

Late last week, Nationwide Mutual Insurance entered into negotiations with Harleysville Group Inc., a large insurance company operating in 32 states, to purchase the company. Details regarding the acquisition are sparse as Nationwide has been keeping a tight lid on information concerning the potential deal. The one thing that is very clear, however, is that the deal has Harleysville independent insurance agents on edge. If the deal goes through, the role of agents from both companies may soon change. Typically, Nationwide uses only contract agents to sell insurance policies exclusive…

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