Life Insurance

(PL) Protective Life Upped to Outperform

On May 22, we upgraded our recommendation on the shares of Protective Life Corp. (PL) to Outperform from Neutral to reflect our optimism regarding the announced acquisition of MONY Life insurance Company and efforts to enhance shareholders...

22Aug2013 | | Comments Off on (PL) Protective Life Upped to Outperform | Continued

(PRU) Prudential Shares Hit 52-Week High

On May 16, 2013, shares of Prudential Financial, Inc. (PRU) hit a 52-week high of $68.45. The momentum was driven by a strong first quarter, which included a 20.6% positive surprise, rating affirmation, and successful closure of...

4Jul2013 | | Comments Off on (PRU) Prudential Shares Hit 52-Week High | Continued

(PL) Protective Life Increases Dividend

Life insurer Protective Life Corp. (PL) has announced an 11% increase in its quarterly dividend. The new dividend of 20 cents per share will be paid on Jun 10, 2013 to share owners of record at the close of business on May 24, 2013.
Last...

22Jun2013 | | Comments Off on (PL) Protective Life Increases Dividend | Continued

(PL) Insurance Industry Stock Outlook – May 2013 – Zacks Analyst Interviews

The year 2013 started off much better than expected for the U.S. insurance industry, with most of the primary insurers beating first quarter earnings estimates and reporting relatively low combined ratios. Moreover, the sector continued to witness rising premium rates which started a year back after...

22May2013 | | Comments Off on (PL) Insurance Industry Stock Outlook – May 2013 – Zacks Analyst Interviews | Continued

(PRU) Prudential Financial Sells Wealth Management Unit

Prudential Financial Inc. (PRU) has entered an agreement to sell a wealth management services unit, which forms a small portion of its operations, to Envestnet Inc. (ENV)...

2May2013 | | Comments Off on (PRU) Prudential Financial Sells Wealth Management Unit | Continued

(PL) Rating Action on Protective Life

As a part of its periodic review exercise, the rating agency A.M. Best Co. has undertaken rating action on the life insurer Protective Life Corporation (PL). Per its action it has reiterated the issuer credit ratings (ICR) of “a-”...

5Mar2013 | | Comments Off on (PL) Rating Action on Protective Life | Continued

(MET) Finally MetLife Sheds Bank Status

MetLife Inc. (MET) announced receipt of the regulatory approval from the Federal Reserve (Fed) and the Federal Deposit Insurance Corp (FDIC) to deregister as a bank holding company. The company has been aiming to shed  its banking...

25Feb2013 | | Comments Off on (MET) Finally MetLife Sheds Bank Status | Continued

(GNW) Insurance Stock Outlook – January 2013 – Zacks Analyst Interviews

The U.S. insurance industry entered 2013 facing the ravages of Hurricane Sandy, which resulted in billions of insured losses. Though insurers were better prepared to withstand significant losses this time, the after-effect of the 2012 hurricane season was much more than expected.

The impediments...

23Jan2013 | | Comments Off on (GNW) Insurance Stock Outlook – January 2013 – Zacks Analyst Interviews | Continued

(ING) ING Groep NV Sells Off Thailand Unit

Netherlands-based ING Groep NV (ING) announced to sell its lucrative Thailand Asset management business to Singapore’s United Overseas Bank Ltd. The divestment is likely to fetch about $12.8 million (€10 million) in cash. The company...

3Dec2012 | | Comments Off on (ING) ING Groep NV Sells Off Thailand Unit | Continued

(PRU) Prudential Issues $500M Junior Notes

On Wednesday, Prudential Financial, Inc. (PRU) issued long-term junior subordinated notes worth $500 million. The issue was doubled from the originally planned $250 million. The net proceeds are expected...

30Nov2012 | | Comments Off on (PRU) Prudential Issues $500M Junior Notes | Continued

(MFC) Manulife Financial Corporation – Bull of the Day

We are upgrading our recommendation on the shares of shares of Manulife Financial Corp. (MFC) to Outperform from Neutral following the recent announcement by the company to expand into Korea, which marks an expansion in its key Asian...

24Oct2012 | | Comments Off on (MFC) Manulife Financial Corporation – Bull of the Day | Continued

(ING) ING Groep NV Sells Stake in China Merchants Fund Joint Venture

On Monday, ING Groep NV (ING) announced a deal to sell its entire stake in China Merchants Fund (CMF) to its joint venture (JV) partners of the fund. Founded in 2002, China Merchants Fund is a JV between ING Investment Management (33.3%),...

23Oct2012 | | Comments Off on (ING) ING Groep NV Sells Stake in China Merchants Fund Joint Venture | Continued

(ING) ING Groep NV to Vend Malaysian Insurance Business

Netherlands-based ING Groep NV (ING) is set to vend its lucrative Malaysian insurance business to Asian insurance giant AIA Group Ltd. The deal, which is yet to receive a regulatory approval, is estimated to be worth approximately...

23Oct2012 | | Comments Off on (ING) ING Groep NV to Vend Malaysian Insurance Business | Continued

(MFC) Manulife Financial Corporation – Bull of the Day

We are upgrading our recommendation on the shares of shares of Manulife Financial Corp. (MFC) to Outperform from Neutral following the recent announcement by the company to expand into Korea, which marks an expansion in its key Asian...

12Oct2012 | | Comments Off on (MFC) Manulife Financial Corporation – Bull of the Day | Continued

(MET) MetLife Vends $1B Notes

Yesterday, MetLife Inc. (MET) sold callable notes worth approximately $1.0 billion in a two-part offering that were scheduled for remarketing and settlement in 2012, according to Reuters.

Previously, the notes were issued as...

9Oct2012 | | Comments Off on (MET) MetLife Vends $1B Notes | Continued

(LFC) China Life Insurance Remains Neutral

We are maintaining our Neutral recommendation on China Life Insurance Co. Ltd (LFC) based on its extensive domestic distribution channel, strong balance sheet, substantial cash flow and stable ratings. However, the company is inherently...

2Sep2012 | | Comments Off on (LFC) China Life Insurance Remains Neutral | Continued

(LFC) China Life Insurance 1H12 Disappoints

Yesterday, China Life Insurance Co. Ltd. (LFC) reported its 2012 interim results. The company witnessed operating earnings of RMB0.34 per share (81 cents per ADR) in the first half of 2012, witnessing a plunge of 26.1% from RMB0.46...

30Aug2012 | | Comments Off on (LFC) China Life Insurance 1H12 Disappoints | Continued

(MET) MetLife Places $750 Million in Senior Unsecured Notes

Recently, Reuters reported that MetLife Inc. (MET) has vended senior unsecured notes worth $750 million. The notes bear an interest rate of 4.125% and are scheduled to mature in February 15, 2042.

MetLife expects to utilize...

22Aug2012 | | Comments Off on (MET) MetLife Places $750 Million in Senior Unsecured Notes | Continued

(AGO) Assured Guaranty Limited Gets OK for UBS Litigation

Earlier this week, a U.S. District Court Judge in Manhattan granted Assured Guaranty Ltd. (AGO) permission to partially move ahead with its lawsuit against UBS AG (UBS)....

18Aug2012 | | Comments Off on (AGO) Assured Guaranty Limited Gets OK for UBS Litigation | Continued

(TMK) Torchmark Corporation Analyst Remains Neutral

We are reiterating our Neutral recommendation on life and health insurer, Torchmark Corp. (TMK). Though we are optimistic about the company’s life insurance business, its underperforming health insurance business keeps us on the...

12Jun2012 | | Comments Off on (TMK) Torchmark Corporation Analyst Remains Neutral | Continued

(PRU) Prudential Financial Expands Dental Insurance Business

U.S.life insurer Prudential Financial Inc. (PRU) has expanded its dental insurance service offering across all fifty states in the U.S.

The enhanced geographical reach, through 190,000 provider locations, will make it more convenient...

4Jun2012 | | Comments Off on (PRU) Prudential Financial Expands Dental Insurance Business | Continued

(TMK) Torchmark Corporation Shares Stay Neutral

We are reiterating our Neutral recommendation on the shares of the life and health insurer, Torchmark Corp. (TMK). Though we are optimistic about the company’s life insurance business, its underperforming health insurance business...

2Apr2012 | | Comments Off on (TMK) Torchmark Corporation Shares Stay Neutral | Continued

(LFC) China Life Insurance – ADR – Bear of the Day

China Life Insurance’s (LFC) third-quarter earnings witnessed a steep decline from the comparable period of last year. High surrenders, low premium income and increased impairment losses led to a decline in the net income, while...

14Dec2011 | | 0 comments | Continued

(LFC) China Life Insurance-ADR – Bear of the Day

China Life Insurance’s (LFC) third-quarter earnings witnessed a steep decline from the comparable period of last year. High surrenders, low premium income and increased impairment losses led to a decline in the net income, while...

5Dec2011 | | 0 comments | Continued

(LFC) China Life Insurance Company Shares Remain Underperform

We have reiterated our Underperform recommendation on China Life Insurance Company Ltd. (LFC) based on itspoor operating results in the third quarter.

China Life reported operating earnings of RMB0.13 per share (US$0.31 per...

2Dec2011 | | 0 comments | Continued

(MFC) Manulife Financial Analyst Initiates Shares with Neutral

We are initiating coverage on Canada based Manulife Financial Corp. (MFC) with a Neutral recommendation. During the third quarter, the company posted a net loss of 73 cents per share, narrower than the loss of $1.28 in the...

28Nov2011 | | 0 comments | Continued

(MET) MetLife Alters Regional Segregation

To provide a better reflection of its global presence, MetLife Inc. (MET) will undergo restructuring of its business segments. As a result, the company will now be divided into three geographical regions – The Americas,...

28Nov2011 | | 0 comments | Continued

(LNC) Lincoln National Corporation Increases Dividend by 60%

Despite basking in a modest third quarter, yesterday, the board of Lincoln National Corp. (LNC) has announced a significant 60% increase in its quarterly dividend to 8 cents per share from the previous pay out of 5 cents. The hiked...

12Nov2011 | | 0 comments | Continued

(LFC) China Life Insurance Sees Moody’s Rating Action

Beginning this week, credit rating agency Moody’s Investors Service affirmed China Life Insurance Co. Ltd.’s (LFC) insurance financial strength rating of “A1” with a positive outlook based on the company’s stable capital,...

6Nov2011 | | 0 comments | Continued

(GNW) Genworth Financial – Bear of the Day

Genworth Financial’s (GNW) second quarter operating loss wider than the Zacks Consensus Estimate loss. A substantially higher year-over-year loss at the U.S. Mortgage Insurance segment, partially offset by better results at Retirement...

14Sep2011 | | 0 comments | Continued