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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

SHOP

Shopify

$201.50

-4.35 (-2.11%)

12:35
03/19/19
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12:35
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12:35
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Shopify put volume heavy and directionally bearish »

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IBKC

Iberiabank

$76.60

-1.23 (-1.58%)

12:32
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Iberiabank board of directors raises quarterly dividend 5% to 43c per share »

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NTDOY

Nintendo

$0.00

(0.00%)

, MSFT

Microsoft

$117.78

0.18 (0.15%)

12:26
03/19/19
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12:26
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On The Fly
Game On: An exclusive talk with The Voxel Agents' Simon Joslin »

'GARDENS BETWEEN': In an…

NTDOY

Nintendo

$0.00

(0.00%)

MSFT

Microsoft

$117.78

0.18 (0.15%)

SNE

Sony

$46.20

0.105 (0.23%)

FB

Facebook

$163.32

2.86 (1.78%)

TCEHY

Tencent

$0.00

(0.00%)

ATVI

Activision Blizzard

$46.95

1.98 (4.40%)

TTWO

Take-Two

$96.16

2.4 (2.56%)

EA

Electronic Arts

$98.79

-0.9 (-0.90%)

UBSFY

Ubisoft

$0.00

(0.00%)

CCOEY

Capcom

$0.00

(0.00%)

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PBR

Petrobras

$17.49

0.38 (2.22%)

12:25
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Petrobras call volume above normal and directionally bullish »

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GOOG

Alphabet

$1,194.39

10.73 (0.91%)

, GOOGL

Alphabet Class A

$1,198.03

9.94 (0.84%)

12:21
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12:21
Periodicals
'Cheaper' Google Pixel may be coming, Mashable says »

Citing prior reports…

GOOG

Alphabet

$1,194.39

10.73 (0.91%)

GOOGL

Alphabet Class A

$1,198.03

9.94 (0.84%)

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CPRX

Catalyst Pharmaceuticals

$3.40

0.31 (10.03%)

12:21
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Catalyst Pharmaceuticals analyst commentary  »

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NVDA

Nvidia

$175.42

6.51 (3.85%)

12:20
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Hot Stocks
Nvidia up 4% as executives present at investor day meeting »

Nvidia said during the…

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BRQS

Borqs Technologies

$4.22

(0.00%)

12:20
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Breaking Hot Stocks news story on Borqs Technologies »

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$NSD

NASDAQ Market Internals

$0.00

(0.00%)

12:17
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Technical Analysis
NASDAQ market internals summary »

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$NYE

NYSE Market Internals

$0.00

(0.00%)

12:16
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NYSE market internals summary »

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BRQS

Borqs Technologies

$4.22

(0.00%)

12:15
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Breaking Hot Stocks news story on Borqs Technologies »

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12:15
03/19/19
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General news
The CNBC Fed survey »

The CNBC Fed survey has…

RCII

Rent-A-Center

$19.91

-1.29 (-6.08%)

12:10
03/19/19
03/19
12:10
03/19/19
12:10
Options
Closing call spread in Rent A Center as shares drop almost 5% »

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AAPL

Apple

$187.73

-0.3 (-0.16%)

, DIS

Disney

$113.45

0.38 (0.34%)

12:09
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On The Fly
Fly Intel: Wall Street's top stories at midday »

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AAPL

Apple

$187.73

-0.3 (-0.16%)

DIS

Disney

$113.45

0.38 (0.34%)

FOX

21st Century Fox

$39.38

-1.47 (-3.60%)

FOXA

21st Century Fox

$40.18

-1.52 (-3.65%)

TFCF

21st Century Fox

$51.25

(0.00%)

EOLS

Evolus

$27.25

3.45 (14.50%)

CPRX

Catalyst Pharmaceuticals

$3.39

0.3 (9.71%)

MIK

Michaels

$13.49

1.7 (14.42%)

DSW

DSW

$21.91

-3.39 (-13.40%)

TACO

Del Taco

$9.81

-0.79 (-7.45%)

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DSW

DSW

$22.01

-3.29 (-13.00%)

, DBI

Designer Brands

$0.00

(0.00%)

12:04
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Hot Stocks
DSW announces 3-year strategic priorities, changes name to Designer Brands »

DSW presented the…

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DSW

$22.01

-3.29 (-13.00%)

DBI

Designer Brands

$0.00

(0.00%)

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MGM

MGM Resorts

$26.89

0.64 (2.44%)

12:04
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MGM Resorts, Major League Soccer announce multi-year gaming partnership »

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ON

ON Semiconductor

$21.99

0.08 (0.37%)

, NVDA

Nvidia

$175.55

6.64 (3.93%)

12:01
03/19/19
03/19
12:01
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12:01
Hot Stocks
ON Semiconductor collaborates with Nvidia on cloud-based AV simulation »

ON Semiconductor (ON)…

ON

ON Semiconductor

$21.99

0.08 (0.37%)

NVDA

Nvidia

$175.55

6.64 (3.93%)

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  • 19

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GRUB

GrubHub

$72.12

-4.91 (-6.37%)

12:00
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GrubHub falls -6.4% »

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DSW

DSW

$22.06

-3.24 (-12.81%)

12:00
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DSW falls -13.0% »

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ORN

Orion Group

$3.66

-0.57 (-13.48%)

12:00
03/19/19
03/19
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Hot Stocks
Orion Group falls -13.7% »

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  • 26

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SBGL

Sibanye Gold

$4.51

0.405 (9.88%)

12:00
03/19/19
03/19
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12:00
Hot Stocks
Sibanye Gold rises 9.9% »

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NVAX

Novavax

$0.52

-0.0072 (-1.37%)

12:00
03/19/19
03/19
12:00
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12:00
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Novavax analyst commentary  »

H.C. Wainwright sees…

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  • 19

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FOE

Ferro

$20.79

1.91 (10.12%)

12:00
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Ferro rises 10.1% »

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JCI

Johnson Controls

$36.51

0.08 (0.22%)

12:00
03/19/19
03/19
12:00
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12:00
Options
Call writer rolls largest open position in Johnson Controls »

Call writer rolls largest…

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CHAP

Chaparral Energy

$5.10

0.62 (13.84%)

12:00
03/19/19
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Hot Stocks
Chaparral Energy rises 13.6% »

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