News from Insurity, Cambridge Mobile Telematics, HSB and more. (Photo: Shutterstock)
Allstate announced it will buy National General Holdings Corp. for about $4 billion in cash, Reuters reported. The deal will scale-up Allstate's auto insurance business in a time of fewer accidents and claims as drivers remain at home under social distancing measures. According to Reuters, National General's shareholders will receive $32 per share in cash and closing dividends of $2.50 per share for each share held.
Insurity has acquired Florida-based software provider Epic-Premier Insurance Solutions. Insurity says the strategic acquisition will enhance the company's existing digital platform and cloud services to help P&C professionals streamline their business operations and increase automation of standard and specialty insurance lines. The company says the solution also can be leveraged by carriers and brokers who currently manage MGA networks or who wish to create MGA networks to broaden their market reach.
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