Property & Casualty Insurance
(UTR) Unitrin – Earnings Estimates Are Rising
Unitrin, Inc. (UTR) is expected to generate long-term EPS growth of 20%, while offering a dividend yield of 3.7%. Company Description Unitrin provides property and casualty insurance, life and health insurance, and consumer finance services for individuals, families, and small...
18Mar2010 | vitalstocks | 0 comments | Continued(RNR) RenaissanceRe Holdings Gets Positive Ratings Comments From A.M. Best
On Tuesday, rating action taken by rating agency A.M. Best Co. on RenRe North America Holdings Inc.’s recently issued $250 million fixed rate 5.75% senior unsecured notes due 2020 looks positive for the issuer. The notes are fully and unconditionally guaranteed by RenaissanceRe...
18Mar2010 | vitalstocks | 0 comments | Continued($AIG) American International Group Holds Back $21 Million in Bonuses
American International Group Inc. (AIG) will hold back $21 million in retention bonuses to its former employees, according to a Wall Street Journal report. The company, which will pay out $46 million today in retention bonuses to about 70 employees, both former and current, has...
17Mar2010 | vitalstocks | 0 comments | Continued(HIG) Hartford Financial Services Group to Repay TARP Money
In order to repay the entire $3.4 billion of bailout money it received from the government for its participation in the Troubled Asset Relief Program (TARP) at the height of the credit crisis, Hartford Financial Services Group Inc. (HIG) said on Tuesday that it will raise $3.05...
17Mar2010 | vitalstocks | 0 comments | Continued(MRH) Montpelier Re Holdings Predicts Initial Chile Earthquake Losses
Yesterday, Montpelier Re Holdings Ltd. (MRH) announced its preliminary loss estimates from the 8.8 magnitude earthquake in Chile, European Windstorm Xynthia and the Australian hailstorms. Montpelier expects to incur pre-tax net losses of $75 million to $100 million from the earthquake...
17Mar2010 | vitalstocks | 0 comments | Continued(AXS) AXIS Capital Holdings Predicts Preliminary Losses
Yesterday, AXIS Capital Holdings Ltd. (AXS) provided its preliminary loss estimates from the earthquake in Chile and the European Windstorm Xynthia. AXIS Capital announced that it expects to incur net losses between $60 million and $125 million for the earthquake. The 8.8 magnitude...
16Mar2010 | vitalstocks | 0 comments | Continued(AIG) American International Group Raises $452 Million from Transatlantic Holdings Sale
Yesterday, American International Group Inc. (AIG) announced that it has raised $452 million from its stake sale in the reinsurance company Transatlantic Holdings Inc. (TRH). AIG closed the secondary public offering of 8,466,693 shares of Transatlantic common stock owned by American...
16Mar2010 | vitalstocks | 0 comments | Continued(RNR) RenaissanceRe Holdings Debt Ratings Affirmed by A.M. Best
On Thursday, rating agency A.M. Best Co. affirmed the issuer credit rating (ICR) of “a-” and all debt ratings of RenaissanceRe Holdings Ltd. (RNR), reflecting the company’s superior risk-based capitalization level and historically excellent underwriting track record. The...
12Mar2010 | vitalstocks | 0 comments | Continued($AIG) American International Group Unit’s Sale Awaits Taiwanese Government Report
Taiwan’s financial regulator has set five conditions for the American International Group Inc.’s (AIG) Nan Shan deal, according to Reuters. The Financial Supervisory Commission (FSC) is expected to give a report to Taiwan’s parliament this Thursday. Last October,...
12Mar2010 | vitalstocks | 0 comments | Continued(AIG) American International Group Sees $490 Million From Sale of Transatlantic Holdings
American International Group Inc.’s (AIG) expects $490 million from its stake sale in the reinsurance company Transatlantic Holdings Inc. (TRH). Last Friday, the company announced its plan to sell its remaining 14% stake in Transatlantic owned by American Home Assurance Company...
11Mar2010 | vitalstocks | 0 comments | Continued(AMSF) Analysts Ask How Safe is Amerisafe?
Amerisafe Inc. (AMSF), a specialty provider of high-hazard workers’ compensation insurance, is becoming less attractive to analysts following its fourth quarter 2009 earnings release last week. With a soft market cycle, characterized by increased competition that results in...
10Mar2010 | vitalstocks | 0 comments | Continued(AIG) American International Group Continues Asset Selling Spree
In an effort to payback the bailout money, American International Group Inc. (AIG) will sell its American Life Insurance Co. (ALICO) unit for about $15.5 billion to MetLife Inc. (MET). MetLife will pay $6.8 billion in cash and approximately $8.7 billion in MetLife equity securities,...
8Mar2010 | vitalstocks | 0 comments | Continued(MXGL) Max Capital Group-Harbor Point to Merge
Yesterday, reinsurers Max Capital Group Ltd. (MXGL) and closely held Harbor Point announced their intention to merge. Upon doing so, both companies would dissolve and a new entity named Alterra Capital Holdings would be formed, with Harbor Point holding 52% ownership and Max...
4Mar2010 | vitalstocks | 0 comments | Continued(AIG) American International Group Ratings Unchanged by A.M. Best
Subsequent to the announcement by American International Group Inc. (AIG) to sell the AIA Group, its pan-Asian life insurance companies, to Prudential Plc. (PUK), A.M. Best Co. said that the ratings of AIG and its subsidiaries remain unchanged. The deal is valued at approximately...
4Mar2010 | vitalstocks | 0 comments | Continued(AMSF) Amerisafe Report Misses Substantially
Amerisafe, Inc.’s (AMSF) fourth quarter operating earnings of 32 cents per share came in substantially short of the Zacks Consensus Estimate of 58 cents. This also compares unfavorably with the earnings of 94 cents in the prior-year quarter. Results for the reported quarter...
3Mar2010 | vitalstocks | 0 comments | Continued(AMPH) American Physicians Service Group Tops Earnings Estimates
American Physicians Service Group Inc.’s (AMPH) fourth quarter operating earnings of 96 cents per share were significantly ahead of the Zacks Consensus Estimate of 73 cents. The company had earned 67 cents in the year-ago quarter. Results reflected a favorable claims environment,...
3Mar2010 | vitalstocks | 0 comments | Continued(AIG) American International Group Sells Asian Life-Insurance Unit
In order to attain funds for repaying the government’s bailout, on Monday, American International Group Inc. (AIG) announced the sale of its Asian life-insurance unit, American International Assurance (AIA) to the U.K.’s Prudential Plc (PUK) for about $35.5 billion. This...
3Mar2010 | vitalstocks | 0 comments | Continued(PRA) ProAssurance Tops Consensus Views
ProAssurance Corporation’s (PRA) fourth quarter operating earnings of $2.42 per share were substantially ahead of the Zacks Consensus Estimate of $1.29. This also compares favorably with the earnings of $2.36 in the prior-year quarter. Earnings for the quarter were benefited...
28Feb2010 | vitalstocks | 0 comments | Continued(PGR) Earnings Season Almost Complete – Earnings Preview
Earnings Preview 2/26/10 Earnings season is winding down, but that does not mean it is over. Next week will bring 296 earnings reports, though just 11 members of the S&P 500. Some of the higher profile firms to report will be Progressive Insurance (PGR), Costco (COST) and...
28Feb2010 | vitalstocks | 0 comments | Continued(AIG) American International Group Misses Forecasts – Narrows Loss
American International Group Inc. (AIG) has narrowed its fourth quarter loss to $8.9 billion or $65.51 per share from a net loss of $61.7 billion or $458.99 per share reported in the prior-year quarter. Adjusted net loss was $7.2 billion or $53.23 a share, compared to an adjusted...
28Feb2010 | vitalstocks | 0 comments | Continued(AIG) AIG-MetLife Deal Faces Tax Dispute
According to the Wall Street Journal, the proposed sale of American International Group’s (AIG) unit American Life Insurance Co (Alico) to MetLife Inc. (MET) faces a tax dispute which may call for a special ruling by the Internal Revenue Service (IRS). The dispute pertains...
24Feb2010 | vitalstocks | 0 comments | Continued(RE) Everest Re Group’s Earnings Report Misses Consensus Estimates
Everest Re Group’s (RE) fourth quarter earnings of $3.19 per share missed the Zacks Consensus Estimate of $3.38. The miss was primarily due to an increase in claims expenses. However, the results were better compared to the prior-year quarter when the company had reported earnings...
16Feb2010 | vitalstocks | 0 comments | Continued(AXS) AXIS Capital Holdings Tops Analyst Consensus
AXIS Capital Holdings Ltd. (AXS) reported fourth-quarter earnings of $1.83 per share, well ahead of the Zacks Consensus Estimate of $1.31. This was primarily due to higher-than-expected revenue driven by investment income, increased premiums and low catastrophes. The company...
15Feb2010 | vitalstocks | 0 comments | Continued(BRKB) Berkshire Hathaway Shareholders Approve Burlington Northern Santa Fe Purchase
This analysis is by Martin Denholm, Senior Editor, Investment U Saturday, February 13, 2010 The legendary old sage has done it again. Warren Buffett’s Berkshire Hathaway (NYSE: BRKB) has now officially added another big American outfit to its already impressive stable of...
14Feb2010 | InvestmentU | 0 comments | Continued(XL) XL Capital Misses Earnings Expectations by a Penny
XL Capital’s (XL) fourth quarter earnings of 69 cents per share were only a penny short of the Zacks Consensus Estimate of 70 cents. Earnings dragged due to a 72% decline in underwriting income from the Property and Casualty segment, partially offset by low operating expenses. XL...
12Feb2010 | vitalstocks | 0 comments | Continued(MXGL) Max Capital Group Gains on Lower Costs
Max Capital Group (MXGL) reported fourth quarter operating earnings of $1.04 per share, beating the Zacks Consensus Estimate of 99 cents. Results were significantly ahead of the prior-year period loss of $1.52. Results were helped by lower expenses, partially offset by lower...
12Feb2010 | vitalstocks | 0 comments | Continued(WRB) W.R. Berkley Surpasses Earnings Estimates
W.R. Berkley’s (WRB) fourth quarter earnings of 71 cents per share were ahead of the Zacks Consensus Estimate of 68 cents. In the year-ago quarter, the company had reported earnings of 74 cents per share. Earnings for the reported quarter were helped by an increase in net investment...
10Feb2010 | vitalstocks | 0 comments | Continued(RNR) RenaissanceRe Holdings Beats on Revenues
RenaissanceRe Holdings Ltd.’s (RNR) fourth-quarter operating earnings of $2.82 per share were substantially ahead of the Zacks Consensus Estimate of $2.47. This also compares much favorably with operating earnings of 47 cents in the year-ago quarter. The better-than-expected...
10Feb2010 | vitalstocks | 0 comments | Continued(HIG) Hartford Financial Services Beats Forecasts – Swings to Net Gain
Hartford Financial Services’ (HIG) fourth quarter core earnings came in at $1.51 per share, substantially ahead of the Zacks Consensus Estimate of $1.40. This also compares favorably with the core loss of 72 cents in the year-ago quarter. The upside was primarily attributable...
9Feb2010 | vitalstocks | 0 comments | Continued(L) Loews Corporation Reports Shy of Expectations
Loews Corporation’s (L) fourth quarter income from continuing operations came in at 94 cents per share, 2 cents below the Zacks Consensus Estimate of 96 cents. However, the results were significantly better compared to the year-ago quarter’s results when the company had reported...
8Feb2010 | vitalstocks | 0 comments | Continued