Life Insurance
(MET) MetLife’s Earnings Report Beats by a Penny
MetLife Inc.’s (MET) fourth quarter adjusted operating earnings (excluding after-tax net investment gains and losses) came in at $793 million or 96 cents, compared to $132 million or 17 cents in the year-ago quarter. Results were only a penny ahead of the Zacks Consensus Estimate...
4Feb2010 | vitalstocks | 0 comments | Continued(AXA) AXA Insurance Company to Remove Self from NYSE
French insurance company AXA (AXA) is planning to delist its American Depository Shares that are currently trading at the New York Stock Exchange (NYSE). Once it delists itself from the NYSE, it intends to deregister from the U.S. Securities and Exchange Commission (SEC). The...
26Jan2010 | vitalstocks | 0 comments | Continued(DFG) Delphi Financial Group Sees Rating Action
Last Friday, rating agency A.M. Best assigned a rating of “bbb” to Delphi Financial Group Inc.’s (DFG) latest $250 million, 7.875% senior unsecured notes, with a negative outlook. The ratings of Delphi’s existing debt remain unchanged. A.M. Best acknowledges Delphi’s...
18Jan2010 | vitalstocks | 0 comments | Continued(DFG) Delphi Financial Group Issues $250 Million of Senior Notes
Delphi Financial Group Inc. (DFG) announced yesterday the issuance of $250 million of its 7.875% senior unsecured notes. The net proceeds from this offering will be used for general corporate purposes, including the repayment of corporate debt, which may include the repayment...
15Jan2010 | vitalstocks | 0 comments | Continued(PRU) Prudential Financial Analysts Initiate Coverage at Neutral
We are initiating our coverage on the shares of the Prudential Financial Inc. (PRU) with a Neutral recommendation. Prudential has one of the best collections of businesses in the U.S. life insurance sector, with strong positions in high margin businesses and a significant diversification....
14Jan2010 | vitalstocks | 0 comments | Continued(MET) MetLife to Sell Taiwan Business
Taking a step to shore up its finances post the global financial crisis, MetLife Inc. (MET) has recently decided to vend its insurance business in Taiwan. On Tuesday, Taiwan Life Insurance Co. offered $122 million to buy MetLife’s insurance wing in Taiwan. However, the final...
13Jan2010 | vitalstocks | 0 comments | Continued(MET) MetLife’s Global Funding Unit Begins Sale of $2.5Billion in Notes
Yesterday, MetLife Global Funding I, a unit of MetLife Inc. (MET), announced a two-part sale of its notes worth $2.5 billion. The first part includes $1 billion of notes at an issue price of $100, maturing on July 13, 2011. These 18-month floating-rate notes will bear a rate...
8Jan2010 | vitalstocks | 0 comments | Continued(MFC) Manulife Financial Corporation’s Ratings Lowered by Standard & Poor’s Ratings Services
Manulife Financial Corporation’s (MFC) long-term counterparty credit ratings were lowered by Standard & Poor’s Ratings Services to ‘A+’ from ‘AA-’. The outlook assigned is negative. The company has also been removed from the CreditWatch listing. The...
6Jan2010 | vitalstocks | 0 comments | Continued(PRU) Prudential Financial Concludes Wachovia Sale
Last week, Prudential Financial (PRU) announced that it has completed the previously announced sale of its minority interest in Wachovia Securities Financial Holdings to Wells Fargo & Co. (WFC) for $4.5 billion in cash. Apart from this the company has also received $418.4...
4Jan2010 | vitalstocks | 0 comments | Continued(PRU) Prudential Financial Sees Credit Rating Action
Earlier during the week, Fitch Rating affirmed the “BBB+” long-term issuer default and the “BBB” senior debt ratings on Prudential Financial Inc. (PRU) and improved its outlook to “stable” from “negative”. The rating action follows the...
27Dec2009 | vitalstocks | 0 comments | Continued(DFG) Delphi Financial Group Sees Credit Rating Action
On Tuesday, rating agency A.M. Best affirmed issuer credit rating (ICR) of “bbb” and “a” for Delphi Financial Group Inc (DFG) and its primary life insurance subsidiaries, Reliance Standard Life Insurance Company and First Reliance Standard Life Insurance Company....
27Dec2009 | vitalstocks | 0 comments | Continued(MET) MetLife Offers Strong 2010 Outlook
MetLife Inc. (MET) has forecast a significant improvement in its operating earnings next year, largely attributable to an increase in premiums, cost cuts and improved investment returns. However, the company doesn’t expect to grow at its historical growth levels before 2011. MetLife...
8Dec2009 | vitalstocks | 0 comments | Continued(MFC) Manulife Financial Corporation Gets Moody’s Upgrade
Manulife Financial Corporation’s (MFC) ratings outlook has been upgraded to “stable” from “negative” by Moody’s Investors Service (MCO) following Manulife’s capital raise of C$2.5 billion (US$2.37 billion) through stock offering. Moody’s has affirmed...
4Dec2009 | vitalstocks | 0 comments | Continued(AEG) Aegon NV Repays Government Funds
Aegon NV (AEG) yesterday repaid €1.15 billion of government funds. The payment constitutes about one-third of the total €3.0 billion it received during last fall. The amount repaid also included accrued interest of €44 million from May 22. The payment, which is an initial...
2Dec2009 | vitalstocks | 0 comments | Continued(MFC) Manulife Financial Corporation Buys Stake, Raises Equity
Manulife Financial Corporation (MFC) has agreed to purchase a 49% stake in ABN AMRO TEDA Fund Management Co. for US$156 million in cash. The joint venture will be named Manulife TEDA Fund Management Co. Ltd. It will offer traditional retail and institutional asset management...
25Nov2009 | vitalstocks | 0 comments | Continued(PRU) Prudential Financial Beats, Ups Guidance
Prudential Financial Inc.’s (PRU) third-quarter earnings of $1.59 per share was well ahead of the Zacks Consensus Estimate of $1.33. Results also topped prior-year period’s earnings of $1.02 per share. The upside was driven primarily by strong annuity sales and market appreciation. Prudential...
8Nov2009 | vitalstocks | 0 comments | Continued(DFG) Delphi Financial Group Drives Ahead
Delphi Financial Group (DFG) third quarter operating income of $1.00 per share was ahead of the Zacks Consensus Estimate of 87 cents per share. Last year, the company had reported earnings of 26 cents per share. Growth in operating earnings was driven by improved investment performance...
8Nov2009 | vitalstocks | 0 comments | Continued(MET) MetLife Surpasses Consensus Estimates by a Penny
MetLife Inc.’s (MET) third-quarter operating earnings of 87 cents per share were only a penny ahead of the Zacks Consensus Estimate. This also compares favorably with operating earnings of 84 cents in the prior-year quarter. Operating income excludes after-tax net investment...
1Nov2009 | vitalstocks | 0 comments | Continued(LNC) Lincoln National Corporation Beats Consensus Earnings Estimates
Lincoln National Corp. (LNC) reported operating earnings of 84 cents in the third quarter, which was ahead of the Zacks Consensus Estimate of 80 cents. The company had earned $1.16 per share on an operating basis in the year-ago quarter. The company experienced lower average...
1Nov2009 | vitalstocks | 0 comments | Continued(RGA) Reinsurance Group of America Ratings Affirmed by A.M. Best
Rating agency A.M. Best Co. has affirmed the financial strength rating [FSR] of A+ and issuer credit ratings (ICR) of “aa-” of RGA Reinsurance Company and RGA Life Reinsurance Company of Canada. A.M. Best also has affirmed the ICR of “a-” and the debt ratings...
14Oct2009 | vitalstocks | 0 comments | Continued(GNW) Genworth Financial Sells Non-Core Unit
Last week, Genworth Financial Inc. (GNW) announced that it completed the sale of Genworth Seguros Mexico S.A. de C.V. to HDI-Gerling International Holding AG. Genworth now intends to focus more on its core Lifestyle Protection Insurance and Mortgage Insurance businesses in Mexico. The...
8Oct2009 | vitalstocks | 0 comments | Continued(MFC) Manulife Financial Corporation Completes AIC Deal
Manulife Financial Corporation (MFC) has closed the transaction to purchase AIC’s Canadian retail investment fund business. This acquisition significantly expands Manulife’s wealth management reach. All AIC funds in Canada will now be managed by Manulife Mutual Funds,...
3Oct2009 | vitalstocks | 0 comments | Continued(AEG) Investing in ADRs: The Most Powerful Way to Reduce Market Risk
by Dr. Scott Brown, Advisory Panelist It’s official: You can reduce your investment risk simply by chucking darts at a list of stocks, then buying them. That’s if you believe a Nobel economist, of course. His crude “experiment” was the start of “modern portfolio theory”...
14Sep2009 | InvestmentU | 0 comments | Continued(MET) MetLife Issues Fixed Rate Notes
On Sep 10, 2009, Metropolitan Life Global Funding I, a unit of MetLife Inc (MET) announced the sale of fixed-rate funding agreement-backed notes in the 144a private placement market worth $1 billion. The size of the deal represents a 100% increase from the originally planned...
11Sep2009 | vitalstocks | 0 comments | Continued(AEG) AEGON-Sony Life Insurance Gets License
Sony Life Insurance Co. and major Dutch insurer AEGON Group (AEG) stated their joint venture in Japan has got a life insurance business license from the Financial Services Agency (FSA). The collaboration will start business operations in December. The new company will be known...
28Aug2009 | vitalstocks | 0 comments | Continued(LFC) China Life Insurance Company’s Profits Grow
China Life Insurance Company (LFC), the leading life insurer in China, has posted a 15% rise in profits in the first half of 2009 compared to the prior-year period. The company earned 18.2 billion yuan ($2.7 billion) in the first half of 2009 driven by gains realized on financial...
27Aug2009 | vitalstocks | 0 comments | Continued(LNC) Lincoln Sells Asset Management Unit
Lincoln National Corporation (LNC) has agreed to sell its asset management unit, Delaware Investments, to Macquarie Group for approximately $428 million in cash. Macquarie Group is a Sydney, Australia-based leading investment bank. The deal is expected to close around the year-end...
20Aug2009 | vitalstocks | 0 comments | Continued(LFC) China Life Insurance Co. – Growth And Income – Zacks Rank Buy
China Life Insurance (LFC) saw first quarter income rise 55% and is expected to grow earnings by 39.19% in 2009. Company Description China Life Insurance is China’s largest life insurance company. It provides individual and group life insurance and accident and health insurance....
10Jul2009 | vitalstocks | 0 comments | Continued