Life Insurance
(GNW) Genworth Financial – Bear of the Day
We are downgrading Genworth Financial (GNW) to Underperform due to higher year-over-year losses at the U.S. Mortgage Insurance segment as well as weak results at Retirement and Protection and at International....
(GNW) Genworth Financial Issues $400 Million in Senior Notes
Genworth Financial Inc. (GNW) sold senior notes worth $400 million, bearing a coupon of 7.20% and maturing on February 15, 2021. The company increased the offer size from $300 million planned earlier.
The...
(LNC) Lincoln National Investors Get Early Christmas
After successfully reconstructing its debt, Lincoln National Corp. (LNC) made yesterday eventful by outlining a number of ways to return wealth to shareholders, which includes a dividend hike, resumption of...
(PRU) Prudential Financial to Buy AIG’s Japanese Life Insurance Units
US insurer Prudential Financial Inc. (PRU) has commenced the offering of 18.4 million of its common shares at a price of $54.50 each. The net funds of $970 million from the issue would be used to finance part...
(MET) MetLife Reports Lobbying Charges Decline
MetLife Inc. (MET) has reported that it spent $1.40 million during the second quarter 2010 to address concerns related to financial regulations and other issues. The lobbying charges have plummeted for MetLife...
(PRU) Prudential Financial Buys Units From American International Group
US insurer Prudential Financial (PRU) declared yesterday that it will be acquiring two of the Japanese life operations of American International Group Inc. (
3Oct2010 | vitalstocks | 0 comments | Continued(MET) MetLife Units Sell $2 Billion in Senior Notes
Recently, a couple of subsidiaries of MetLife Inc. (MET) sold off senior notes worth approximately $2 billion. According to the Reuters, on Wednesday, MetLife Global Funding I vended off its 5-year senior...
(LNC) Lincoln National and Hartford Financial Services Group Warrants on Sale
As part of the bailout funds repayment by the insurers through the Troubled Asset Relief Program (TARP), the US Treasury Department plans to conduct auctions to dispose of its remaining warrants held in Lincoln National Corporation (
8Sep2010 | vitalstocks | 0 comments | Continued(PRU) Prudential Financial Gains on Higher Second Quarter Revenues
Life insurer Prudential Financial Inc.’s (PRU) second quarter operating income of $1.51 per share was ahead of the Zacks Consensus Estimate of $1.31. Earnings were, however, down from $1.87 per share in...
(LNC) Lincoln National Corporation Earns A.M. Best Ratings
On June 22, A.M. Best Co. allotted a debt rating of “a-” to the senior unsecured notes of Lincoln National Corporation (LNC), keeping the outlook stable. In conjunction with assigning ratings,...
(AEG) Aegon NV Reviews Strategic Measures To Dispose Of Units
On Tuesday, Aegon NV (AEG) stated that it will consider options to dispose its US-based life reinsurance unit Transamerica Re and restructure its business in the UK, as it intends to realign and enhance focus...
(LNC) Lincoln National Raises Money Through Offering to Exit TARP
In an attempt to repay its $950 million government bailout fund, Lincoln National Corp. (LNC) announced its intention to raise money through equity and debt offering. As a result, on Monday, the company publicly...
(LNC) Lincoln National Completes $2 Billion Credit Line
Expanding its debt restructuring initiatives, on Thursday, Lincoln National Corp. (LNC) announced the closure of its bank credit facility worth $2 billion. This includes a 4-year credit agreement of $1.5 billion...
(MET) MetLife First Quarter 2010 Earnings Scorecard
MetLife Inc. (MET) reported first quarter 2010 results on Apr. 30 with operating earnings of $834 million or $1.01 per share, which was significantly ahead of $131 million or $0.16 per share in the year-ago...
(LNC) Lincoln National Corporation Plans to Repay TARP
Lincoln National Corp. (LNC) is gearing up to repay the bailout money. Dennis Glass, the company’s President and CEO, said at an investor presentation yesterday that this acceleration follows a successful...
(GNW) Genworth Financial’s Earnings Report Misses by Four Cents
Genworth Financial Inc. (GNW) reported first quarter 2010 earnings of 23 cents on April 29, missing the Zacks Consensus Estimate by 4 cents. Investors were clearly discouraged and the shares moved down following...
(GNW) Genworth Financial Quarterly Report Misses Expectations
Genworth Financial Inc. (GNW) reported operating earnings per share of 23 cents available to the common stockholders. This compares unfavorably with the Zacks Consensus Estimate of 27 cents. However, the results...
(RGA) Reinsurance Group of America Earnings Preview
Reinsurance Group of America (RGA) is slated to release first quarter 2010 earnings on April 27, 2010, before the opening bell.
We expect the company’s earnings for 2010 to benefit from the acquisition...
(MET) MetLife Sells Taiwan Business to Waterland Financial Holdings
On Tuesday, Thomson Reuters reported that MetLife Inc. (MET) may dispose of its insurance business in Taiwan to Waterland Financial Holdings Co., a tiny financial firm in Taiwan, who has agreed to purchase...
(LNC) Lincoln National Analyst Initiates Coverage at Neutral
We have recently initiated coverage on Lincoln National Corp. (LNC) with a Neutral recommendation. The company’s fourth quarter earnings were substantially ahead of the Zacks Consensus Estimate due to increased...
(MFC) Manulife Financial Corporation Buys Joint Venture in China
Last week, Manulife Financial Corporation (MFC) completed the deal to buy Fortis Bank SA/NV’s 49% ownership in ABN AMRO TEDA Fund Management Co. Ltd. The remaining 51% ownership is owned by Northern...
(AEG) Aegon NV’s Ongoing Restructuring Continues on Track
Keeping pace with its ongoing restructuring program that began in 2009, Aegon NV (AEG) announced the sale of its funeral insurance business in Netherlands. Although the sale took place on Feb 1, 2010, it was...
(PRU) Prudential Financial to Take $100 Million in Charges
Prudential Financial Inc. (PRU) is expected to post a charge of $100 million in its first quarter earnings as a result of changes made under health care reform regarding subsidies on retiree health care costs.
During...
($AIG) Prudential Insurance Riding The Asian Explosion Straight Up
The American press didn’t really cover the recent, major deal in the global insurance industry.
But just because they didn’t pay it any attention, doesn’t mean that you should ignore it too… It indicates one very profitable opportunity you won’t want to...
(MFC) Manulife Financial Corporation Expands in China
Manulife Financial Corporation (MFC) is continuously growing its operations in China. Recently, the China Insurance Regulatory Commission (CIRC) has approved Manulife-Sinochem, Manulife’s joint venture...
(PUK) Fitch Ratings Cautious on Prudential Plc
Following the announcement by Prudential Plc (PUK) to purchase Asian life-insurance unit American International Assurance (AIA) from American International Group Inc. (
4Mar2010 | vitalstocks | 0 comments | Continued(AEG) Aegon NV’s Report Shows Return to Profit
Dutch insurer Aegon NV (AEG) reported fourth quarter net income of €393 million (US$533 million), which came in substantially ahead of the net loss of €1.18 billion (US$1.60 billion) recorded in the year-ago...
(MET) MetLife Seeks $5 Billion Loan for American International Group Unit
On Feb 23, 2010, Bloomberg reported that MetLife Inc. (MET) is looking for a $5 billion loan in order to complete the long pending acquisition of American International Group Inc.’s (
(AXA) AXA Insurance Increases Profits
Insurance giant AXA (AXA) announced a surge in its 2009 net income to €3.61 billion from €923 million last year, due to lower writedowns on investments.
Total revenues were down 3.0% to €90.1...
(LNC) Lincoln National Corporation Betters Expectations
Life insurance and annuity company Lincoln National Corp.’s (LNC) fourth quarter earnings of 90 cents per share were ahead of the Zacks Consensus Estimate of 83 cents. Last year, the company reported a loss...