Insurance

The Biden-Harris administration's approach to medical debt reduction is well-intentioned, but counterproductive. There are better ways to reform the system and maintain patients' dignity.

New Mountain Capital is combining three companies in its portfolio: the Rawlings Group, the payment-integrity business of Apixio, and a recently acquired firm called Varis. The new entity would use AI to track health plans' payments to doctors and hospitals.

The Jackson, Mississippi, company will use proceeds from the sale of its Fisher Brown Bottrell Insurance unit to restructure its investment portfolio, moving $1.6 billion of low-yield securities off the balance sheet.

The Biden administration's proposal to waive title insurance requirements for mortgage lenders would undercut an efficient system that offers homebuyers important protections.

The Charlotte, North Carolina, company has agreed to sell its remaining 80% stake in its insurance brokerage unit to raise billions of dollars in cash and extra capital. The "wild card" is how Truist will deploy them, one analyst says.

The North Carolina bank agreed to offload Sterling Capital Management to Guardian Capital Group in Toronto. It's the latest step in the effort to simplify Truist.

Lawmakers criticized the Biden administration's Risk Rating 2.0 effort — which was meant to reduce insurance premiums by developing more refined models — as ineffective, arguing that the program has increased rate premiums in vulnerable areas.

Banks' sales of insurance agencies for eye-popping multiples emerged as one 2023's notable trends. Though the bandwagon shows no sign of slowing, several prominent community banks appear to be holding on to their insurance operations.

Banks large and small are selling some or all of their insurance subsidiaries, enticed by the high prices they're being offered. Here's a rundown of the deals that were struck in 2023.

The Pennsylvania bank has agreed to sell its Exchange Underwriters subsidiary to World Insurance Associates for $30.5 million, saying that the deal will help pad its capital and liquidity.