News Topic: Insurance
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Truist expects more M&A opportunities in insurance
Truist to acquire Texas Capital's premium finance business
Truist leans into fee businesses to counter margin pressure
First Mid in Illinois acquires two insurance agencies
Eastern Bankshares buys insurance agency
Northwest Bancshares in Pennsylvania to sell insurance business
Neobank tackles problem of emergency medical debt
Better Financial offers customers up to $5,000 per year in accident coverage, prescription drug discounts and medical debt negotiation to certain account holders. ... Read full article
Five Star Bank parent to buy insurance agency
Financial Institutions in New York has agreed to acquire Landmark Group, which provides services to the construction, manufacturing, real estate and technology sectors. ... Read full article
Truist bulks up its insurance business
The company's insurance arm, which recently bought a Texas-based insurance tech firm, is on pace to complete five deals this quarter. ... Read full article
CUNA Mutual Group acquires ForeverCar
The deal, intended to bolster CUNA Mutual's digital capabilities, is the company's second such move in a month. ... Read full article
People's United agrees to sell insurance unit
The Connecticut company will receive $120 million in cash from AssuredPartners for People's United Insurance Agency. ... Read full article
Associated to sell insurance business for $265 million
The Wisconsin regional said the funds will support loan growth, create an added capital buffer and support its dividend policy. ... Read full article
Hilltop in Texas to sell specialty insurance unit for $150 million
National Lloyds, which provides insurance for mobile homes, has a distribution network that operates in 40 states. ... Read full article
Fed proposes capital requirements for insurance units
The Fed is seeking feedback on a "Building Block Approach" to risk-based capital standards for firms heavily engaged in insurance activities. ... Read full article
Summit Financial in W.Va. sells insurance business
The company will record a $2.1 million pretax gain in the second quarter after selling Summit Insurance Services to the Hilb Group. ... Read full article
Why Kraninger's CFPB is mandating fewer consumer refunds
The agency has required restitution in just one of six settlements under its new director, raising questions about whether the pattern will continue. ... Read full article
Sterling Jewelers fined by CFPB for unauthorized credit card accounts
The company owning brands such as Kay Jewelers and Jared the Galleria of Jewelry will pay $11 million under a settlement with the consumer bureau and New York's attorney general. ... Read full article
Fed readying capital rule for insurance firms under its watch
The Dodd-Frank Act gave the central bank authority to set capital requirements for insurance companies that own a federally insured bank, as well as those determined to be systemically important. ... Read full article
Regionals won't be making any major deals. Here's why
On paper, conditions would seem favorable for regional banks to pursue acquisitions in order to overcome organic growth challenges. But executives have poured cold water on that idea in recent days. ... Read full article