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Insurance

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SEC fines Pearson $1 million for misleading investors about 2018 cyber intrusion

The Securities and Exchange Commission announced that educational publishing company Pearson PLC agreed to pay $1 million to settle charges that it misled investors about a 2018 cyber intrusion involving the theft of millions of student records …

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Gallagher to acquire Willis Re for $3.25B

Willis Towers Watson, the world’s third-largest insurance brokerage, on Friday said it has agreed to sell its reinsurance business, Willis Re, to Arthur J. Gallagher & Co. in a deal valued at $3.25 billion, Benefits Pro …

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Meredith ends fiscal year on high note; digital delivers record performance

Meredith Corp. on Thursday reported fiscal fourth-quarter earnings that topped expectations, amid strength in digital advertising revenue — which exceeded magazine revenue for the year for the first time, MarketWatch reported. The Des Moines-based media company swung …

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Shomo-Madsen Insurance enters partnership with Keystone Insurers Group

Keystone Insurers Group, a 17-state insurance agency group based in Pennsylvania, announced it has partnered with Shomo-Madsen Insurance, an agency in Marshalltown. Founded by Bobby Shomo and Steve Madsen in 2010, the agency also has regional …

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A $150B boost: Principal completes integration of Wells Fargo’s retirement business

Principal Financial Group announced today that it recently completed the integration of the Wells Fargo Institutional Retirement business. Principal acquired the Institutional Retirement and Trust business from Wells Fargo in July 2019 to enhance its retirement and …

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IPERS approves two private credit managers, retains Wilshire as investment consultant

The Iowa Public Employees Retirement System’s investment board last week approved two new investment managers, Kartesia and ITE Management, as part of a strategy to increase private credit holdings. In a special meeting, the IPERS Investment Board …

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Hy-Vee launches insurance agency for Medicare beneficiaries

Hy-Vee Inc. recently announced the launch of Hy-Vee Medicare Aisle, an agency dedicated to serving Medicare beneficiaries across the grocer’s eight-state region. Hy-Vee Medicare Aisle is the newest offering by Hy-Vee Financial Services, Hy-Vee’s banking, …

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Iowa stocks’ performance was split in July

Eight of the 17 Iowa-based companies on the Business Record’s Iowa Index posted stock price gains for the month of July. Only one company posted double-digit percentage gains. Nine Iowa-based stocks posted losses, with three …

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American Equity reports net loss; annuity sales double from 2020 levels

American Equity Investment Life Holding Co. reported a net loss available to common stockholders of $65.6 million, or 69 cents per share, for its second quarter, compared with a loss of $253.4 million, or $2.76 …

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Some Iowans could see up to 21% premium hike under Wellmark proposal

Axios Des Moines: Thousands of Iowans who receive health coverage through the Affordable Care Act marketplace could see their premiums increase by as much as 21% next year, under a request recently filed with the Iowa …

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