Reserve National recorded earned premiums of $127 million and net income of $3.1 million in 2009. Unitrin expects to record a gain upon completion of the transaction.
The transaction is subject to negotiation and execution of a definitive purchase agreement, completion of due diligence and regulatory approval. Unitrin expects the transaction to be completed in the second quarter of 2010.
Dave North, executive chairman of Sedgwick, will retire on June 30th, but will continue to serve on the company's board of directors.
SDK integration can simplify and revolutionize digital offerings for health insurers.
The insurtech discusses its multi-line solutions and ethics of AI.
Allstate Corp. will end its years-long pause on underwriting in California as soon as the state regulator adopts proposed regulatory changes to make it easier for insurers to raise rates, according to a company spokesperson.
The Net Zero Insurance Alliance will instead be replaced by the Forum for Insurance Transition to Net Zero (FIT), convened and led by the United Nations Environment Programme, according to a statement on Thursday.
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.
