Cadence Bank to sell insurance business to Arthur J Gallagher for $904 million
-Cadence Bank will sell its insurance brokerage unit to Arthur J Gallagher for $904 million to narrow its focus and redeploy capital to its core banking business, the lender said on Tuesday.
Banks have been retreating from secondary ventures to build capital and shore up their core franchises, as high borrowing costs and tough regulation threaten to upset growth. Illinois-based insurance brokerage Arthur J Gallagher said the deal will help its property, casualty and employee benefits presence in Texas and across several states in the Southeast.Its construction, real estate, manufacturing, healthcare, professional services and high-net-worth personal lines businesses will also get a boost, Arthur J Gallagher added.We encourage you to use comments to engage with other users, share your perspective and ask questions of authors and each other.
{username} Just Now Share Follow this postUnfollow this post Save Saved. See Saved Items . This comment has already been saved in your Saved Items Author's response{commentContent} Reply 00 Report {username} Just NowAuthor's response Share Follow this postUnfollow this post Save Saved. See Saved Items .
United States Latest News, United States Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Stock movers: Logitech, IonQ, Redfin, Crane, Agilysys, AGNC, Cadence DesignLogitech, IonQ, Redfin, Crane, Agilysys, AGNC and Cadence Design were active.
Read more »
Cadence Design Systems’ stock dips on disappointing guidanceJon Swartz is a senior reporter for MarketWatch in San Francisco, covering many of the biggest players in tech, including Netflix, Facebook and Google. Jon has covered technology for more than 20 years, and previously worked for Barron's and USA Today. Follow him on Twitter jswartz.
Read more »
Stocks making the biggest moves after the bell: Redfin, Cadence Design Systems and moreThese are the stocks posting the largest moves in post-bell trading.
Read more »
GOP Rep Gallagher warns university presidents of CCP’s ‘coercive influence’ on campusesEXCLUSIVE: Rep. Mike Gallagher, R-Wis., on Monday warned top universities of efforts by the Chinese government to spread its “coercive influence' on U.S. campuses.
Read more »
Alexander Bublik beats French teenager Arthur Fils in European Open final for 3rd career titleThird-seeded Alexander Bublik of Kazakhstan has won his third career title by beating French teenager Arthur Fils 6-4, 6-4 in the European Open final. Bublik saved all three break points he faced and hit 28 winners to 18 for Fils. Fils saved two match points but Bublik converted the third with his 11th ace.
Read more »