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USAA to expand in Chesapeake, add 500+ jobs
USAA announced Thursday that it has purchased a larger office space in Chesapeake and that it will add more than 500 employees.
Molina Healthcare to close Henrico office, laying off 268 workers
Molina Healthcare, a Fortune 500 company that manages health care services for Medicaid and Medicare recipients, is closing its Henrico County office and laying off 268 workers.
UnitedHealth Group CEO steps down as company lowers, then withdraws financial outlook for 2025
UnitedHealth CEO Andrew Witty steps down amid rising costs. The insurer suspends its 2025 outlook; shares drop 16% after months of instability.
Henrico-based Elephant Insurance to be sold
The U.K.-based Admiral Group is selling Henrico County-based auto insurer Elephant Insurance to J.C. Flowers & Co., a New York-based private investment firm, according to a Tuesday announcement. The deal is for “an undisclosed cash consideration … representing approximately the net asset value of Elephant,” a news release stated. That value is believed to be […]
Krispy Kreme investor to acquire Roanoke’s Shenandoah Life in deal
JAB Holding Co., the Luxembourg-based holding company that owns a majority stake in Krispy Kreme doughnuts, plans to pay $3.1 billion to buy Prosperity Life Group, parent company of Roanoke-based Shenandoah Life Insurance, according to a filing made last month with the State Corporation Commission. Applications for approval of acquisition of an insurer typically take […]
China raises its retaliatory tariff on the US to 84% as it vows to ‘fight to the end’
BANGKOK (AP) — China is boosting tariffs on American goods to 84% and vowed Wednesday to “fight to the end” in an escalating battle that threatens to disrupt trade between the world’s two largest economies. The new rate, which takes effect Thursday, comes in response to President Donald Trump’s move to raise the tariff on […]
Genworth taps new CIO
Henrico County-based Fortune 500 insurance company Genworth Financial announced Monday that Morris Taylor is its new senior vice president and chief information officer. Taylor joins the company from Glen Allen-based Fortune 500 insurer Markel, where he had served as chief information officer since 2021. Before Markel, Taylor spent 25 years with McLean-based Capital One Financial, […]
Federal prosecutors to seek death penalty for Luigi Mangione in UnitedHealthcare CEO’s killing
NEW YORK (AP) — U.S. Attorney General Pam Bondi said Tuesday that she has directed prosecutors to seek the death penalty against Luigi Mangione, the man accused of gunning down UnitedHealthcare CEO Brian Thompson, following through on the president’s campaign promise to vigorously pursue capital punishment. It is the first time the Justice Department has sought to bring the death [&he[...]
Whistleblowers in Sentara insurance investigation revealed
UPDATED MARCH 18 The U.S. District Court for the Western District of Virginia has unsealed a whistleblower complaint against Sentara Health that accused the Hampton Roads health care system of improperly inflating local insurance rates in 2018 and 2019. On Feb. 14, the court revealed the plaintiffs are Sara Stovall, Ian Dixon and Karl Quist […]
Owens & Minor sues Anthem, accusing insurer of mishandling claims
Mechanicsville-based Fortune 500 health care logistics and supply company Owens & Minor filed a federal lawsuit against Anthem Blue Cross and Blue Shield this week, claiming that the Henrico County insurer mismanaged funds for Owens & Minor’s employee health insurance plan and allegedly violated the Employee Retirement Income Security Act, or ERISA. According to the […]
Sentara to cut 200 jobs across workforce
Sentara Health is cutting approximately 200 positions across its workforce, officials told employees this week. Most of the affected employees work for Sentara Health Plans and are based in Virginia, according to a statement issued Friday by the Hampton Roads-based health system. The cuts are related to the Medicaid redetermination process and associated decline in […]
Virginia 500: The 2024-25 Power List
Who are Virginia’s most powerful and influential leaders in business, government, politics and education this year? Find out in the fifth annual edition of the Virginia 500: The 2024-25 Power List. Read more about how we assembled the Virginia 500 from our editor. Executives are listed in alphabetical order by industry. Below you will find links […]
