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HCHC

HC2 Holdings

$5.99

0.19 (3.28%)

17:31
08/09/18
08/09
17:31
08/09/18
17:31

HC2 Holdings unit Continental General Insurance completes LT care acquisition

HC2 Holdings (HCHC) announced that its insurance subsidiary, Continental General Insurance Company, has completed its acquisition of the long-term care insurance business KMG America Corporation from Humana (HUM). As of March 31, KMG's subsidiary, Kanawha Insurance Company, had approximately $150M in statutory surplus and approximately $160M of statutory total adjusted capital with approximately $2.4B of cash and invested assets. Under the terms of the Stock Purchase Agreement, Humana made an approximate $195M cash capital contribution to KMG's subsidiary Kanawha Insurance Company prior to closing.Post-close, CGIC will have cash and invested assets of approximately $3.8B, up from $1.5B prior to the transaction. Upon completion of the transaction, pro-forma statutory surplus for the combined entities is estimated to be between $155 - $175M and total adjusted capital is estimated at between $185 - $205M, subject to closing adjustments. "Completing the acquisition of Humana's long-term care insurance business marks another significant milestone in the growth of our insurance subsidiary and significantly increases the size of our insurance investment portfolio and more than doubles our total adjusted insurance capital base from approximately $85 million to the estimated $185 million to $205 million, providing incremental value to our shareholder base," said Philip Falcone, Chairman, President and Chief Executive Officer of HC2. "We believe this transaction validates our platform and positions us as the counterparty of choice for future LTC transactions."

TODAY'S FREE FLY STORIES

BOLD

Audentes Therapeutics

$33.74

0.7 (2.12%)

20:43
08/20/18
08/20
20:43
08/20/18
20:43
Initiation
Audentes Therapeutics initiated  »

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  • 12

    Sep

VNOM

Viper Energy

$38.06

-0.29 (-0.76%)

20:42
08/20/18
08/20
20:42
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20:42
Upgrade
Viper Energy rating change  »

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SCPH

scPharmaceuticals

$4.94

-0.43 (-8.01%)

20:25
08/20/18
08/20
20:25
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20:25
Recommendations
scPharmaceuticals analyst commentary  »

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  • 24

    Sep

MDT

Medtronic

$90.06

-0.54 (-0.60%)

, TJX

TJX

$101.68

1.33 (1.33%)

20:25
08/20/18
08/20
20:25
08/20/18
20:25
Earnings
Notable companies reporting before tomorrow's open »

Notable companies…

MDT

Medtronic

$90.06

-0.54 (-0.60%)

TJX

TJX

$101.68

1.33 (1.33%)

SJM

J.M. Smucker

$115.92

1.35 (1.18%)

KSS

Kohl's

$78.86

2.43 (3.18%)

COTY

Coty

$12.41

0.19 (1.55%)

TOL

Toll Brothers

$34.72

0.33 (0.96%)

PINC

Premier

$38.35

-0.03 (-0.08%)

03/08/13
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BHP

BHP Billiton

$48.30

0.38 (0.79%)

19:33
08/20/18
08/20
19:33
08/20/18
19:33
Hot Stocks
Breaking Hot Stocks news story on BHP Billiton »

BHP CEO says looking to…

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TGE

Tallgrass Energy

$26.23

0.63 (2.46%)

19:23
08/20/18
08/20
19:23
08/20/18
19:23
Recommendations
Tallgrass Energy analyst commentary at MUFG »

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TLRY

Tilray

$35.91

5.2 (16.93%)

19:18
08/20/18
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19:18
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19:18
Hot Stocks
Tilray Canada reaches pact with OCRC to supply cannabis brands, products »

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  • 28

    Aug

LFL

LATAM Airlines

$0.00

(0.00%)

19:10
08/20/18
08/20
19:10
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19:10
Earnings
LATAM Airlines reports Q2 operating income $6.5M vs. $48.2M last year »

Reports Q2 revenue $2.36B…

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MNOV

MediciNova

$8.99

-0.11 (-1.21%)

19:08
08/20/18
08/20
19:08
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19:08
Hot Stocks
MediciNova says NIH awards research griant to UCLA for MN-166 trial »

MediciNova announced that…

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HTZ

Hertz

$21.05

0.155 (0.74%)

, FN

Fabrinet

$44.00

0.365 (0.84%)

18:45
08/20/18
08/20
18:45
08/20/18
18:45
Hot Stocks
On The Fly: After Hours Movers »

UP AFTER EARNINGS:…

HTZ

Hertz

$21.05

0.155 (0.74%)

FN

Fabrinet

$44.00

0.365 (0.84%)

WDAY

Workday

$143.17

0.52 (0.36%)

SITO

Sito Mobile

$1.99

0.05 (2.58%)

NDSN

Nordson

$134.67

-0.12 (-0.09%)

APPN

Appian

$36.23

(0.00%)

CREE

Cree

$46.42

0.99 (2.18%)

MELI

MercadoLibre

$319.70

-4.3 (-1.33%)

03/08/13
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  • 20

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  • 04

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  • 21

    Aug

IBKR

Interactive Brokers

$61.99

0.76 (1.24%)

18:43
08/20/18
08/20
18:43
08/20/18
18:43
Hot Stocks
FINRA fines Interactive Brokers $5.5M for regulation SHO violations »

FINRA announced that it…

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MSFT

Microsoft

$106.87

-0.71 (-0.66%)

18:29
08/20/18
08/20
18:29
08/20/18
18:29
Hot Stocks
LinkedIn to let economics researchers mine its data »

Microsoft's LinkedIn…

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  • 04

    Sep

  • 12

    Sep

GSB

GlobalSCAPE

$3.46

(0.00%)

18:27
08/20/18
08/20
18:27
08/20/18
18:27
Hot Stocks
GlobalSCAPE to launch $15M modified Dutch auction tender offer »

GlobalSCAPE announced its…

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  • 10

    Oct

BHP

BHP Billiton

$48.30

0.38 (0.79%)

18:24
08/20/18
08/20
18:24
08/20/18
18:24
Earnings
BHP reports FY18 underlying profit $9.6B, consensus $9.2B according to Bloomberg »

BHP reports copper…

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LII

Lennox

$225.37

2.76 (1.24%)

18:19
08/20/18
08/20
18:19
08/20/18
18:19
Earnings
Lennox cuts FY18 adjusted EPS view to $8.90-$9.30 from $9.95-$10.35 »

FY18 consensus $10.25.…

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GDI

Gardner Denver

$28.29

0.36 (1.29%)

18:10
08/20/18
08/20
18:10
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18:10
Initiation
Gardner Denver initiated at Morgan Stanley »

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MMM

3M

$204.57

-0.24 (-0.12%)

18:09
08/20/18
08/20
18:09
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18:09
Initiation
3M initiated at Morgan Stanley »

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ETN

Eaton

$81.33

0.35 (0.43%)

18:05
08/20/18
08/20
18:05
08/20/18
18:05
Initiation
Eaton initiated at Morgan Stanley »

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FLS

Flowserve

$51.51

0.16 (0.31%)

18:01
08/20/18
08/20
18:01
08/20/18
18:01
Initiation
Flowserve initiated at Morgan Stanley »

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ITW

Illinois Tool Works

$138.37

-1.05 (-0.75%)

17:59
08/20/18
08/20
17:59
08/20/18
17:59
Initiation
Illinois Tool Works initiated at Morgan Stanley »

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CFX

Colfax

$33.28

0.62 (1.90%)

17:56
08/20/18
08/20
17:56
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17:56
Initiation
Colfax initiated at Morgan Stanley »

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ALLE

Allegion

$86.97

0.26 (0.30%)

17:54
08/20/18
08/20
17:54
08/20/18
17:54
Initiation
Allegion initiated at Morgan Stanley »

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CGNX

Cognex

$52.42

0.02 (0.04%)

17:53
08/20/18
08/20
17:53
08/20/18
17:53
Initiation
Cognex initiated at Morgan Stanley »

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UTX

United Technologies

$135.14

0.73 (0.54%)

17:47
08/20/18
08/20
17:47
08/20/18
17:47
Periodicals
United Technologies buys analytics firm Predikto, Dow Jones says »

United Technologies has…

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JCI

Johnson Controls

$38.73

0.48 (1.25%)

17:47
08/20/18
08/20
17:47
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17:47
Initiation
Johnson Controls initiated at Morgan Stanley »

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