Earlier this week, American International Group Inc. (AIG) announced its intentions to invest HK$718.1 million or about $92.5 million in PICC Group’s PICC Property and Casualty Co. Ltd. (PICC P&C). The investment will be made...
23May2013 | vitalstocks
| Comments Off on (AIG) American International Group to Inject $92.5 Million in China
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 | vitalstocks
| Comments Off on (PL) Insurance Industry Stock Outlook – May 2013 – Zacks Analyst Interviews
Cigna Corp.’s (CI) first-quarter 2013 net operating earnings of $1.72 per share outpaced the Zacks Consensus Estimate of $1.43 per share. Moreover, the results surged nearly 39% year over year.
14May2013 | vitalstocks
| Comments Off on (CI) Cigna Posts Strong First Quarter Earnings
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 | aaroncampbell
| Comments Off on (MET) Finally MetLife Sheds Bank Status
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.
23Jan2013 | aaroncampbell
| Comments Off on (GNW) Insurance Stock Outlook – January 2013 – Zacks Analyst Interviews
American Financial Group Inc. (AFG) has put together an impressive 17 straight quarters of positive earnings surprises, averaging a beat of 12.5%. Most recently, this property and casualty insurer surprised by 39% in its third quarter. The quarterly...
16Jan2013 | aaroncampbell
| Comments Off on (AFG) American Financial Group – Value
JPMorgan Chase Bank, N.A – a wing of JPMorgan Chase & Co. (JPM) – is all set to acquire $70 billion worth of mortgage-servicing portfolio from MetLife Bank, N.A – a subsidiary of the insurance giant MetLife, Inc....
7Nov2012 | vitalstocks
| Comments Off on (JPM) JPMorgan Chase & Company to Buy Mortgage Portfolio
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 | vitalstocks
| Comments Off on (MET) MetLife Vends $1B Notes
In order to refinance an earlier debt, American Financial Group Inc. (AFG), has issued notes worth $125 million. The notes bear an interest rate of 5.75% and are scheduled to mature on August 25, 2042. However, the...
26Aug2012 | vitalstocks
| Comments Off on (AFG) American Financial Group Issues Notes Worth $125 Million
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 | vitalstocks
| Comments Off on (MET) MetLife Places $750 Million in Senior Unsecured Notes
We have maintained our Neutral recommendation on American International Group Inc. (AIG) following its modest operating performance and steady bailout loan repayment during the first half of 2012. However, the top line remains sluggish...
21Aug2012 | vitalstocks
| Comments Off on (AIG) American International Group Reiterated at Neutral
A.M. Best Co. lowered the issuer credit rating (“ICR”) to “bbb” from “bbb+” of StanCorp Financial Group Inc. (SFG), besides downgrading the debt ratings. The outlook, however, was upgraded to stable from negative.
14Aug2012 | vitalstocks
| Comments Off on (SFG) StanCorp Financial Group Sees Rating Action
Hartford Financial Services Group Inc. (HIG) has announced its pre-tax current accident year catastrophe (CAT) loss estimate of $280–300 million for the second quarter of 2012, which is considerably lower than $447 million recorded...
13Aug2012 | vitalstocks
| Comments Off on (HIG) Hartford Financial Services Group Expects Lower Second Quarter Catastrophe Loss
Last week, American International Group Inc. (AIG) sued the US Federal Reserve regarding net overpaid taxes and interests in 1991 worth $30.2 million, according to the Associated Press reports. The case has been filed in Federal Claims...
10Aug2012 | vitalstocks
| Comments Off on (AIG) American International Group Slams Fed with Tax Overpayment
In an effort to scale down its non-core operations and further strengthen the balance sheet, Bank of America Corporation (BAC) is selling certain mortgage servicing rights (MSRs) to Nationstar Mortgage Holdings Inc.’s...
6Jun2012 | vitalstocks
| Comments Off on (BAC) Bank of America Corporation to Sell Mortgage Servicing Rights to Nationstar
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 | vitalstocks
| Comments Off on (PRU) Prudential Financial Expands Dental Insurance Business
On Tuesday, as reported by Reuters, American International Group Inc.‘s (AIG) attempts to intervene in Bank of America Corporation‘s (BAC) $8.5...
27Apr2012 | vitalstocks
| Comments Off on (AIG) American International Group Denied Intervening in Bank of America Deal
Hartford Financial Services Group Inc. (HIG) has agreed to refund premiums worth $24 million to its accidental death and dismemberment policyholders in New York, according to Reuters. The refund pertains to the minimum medical loss...
22Apr2012 | vitalstocks
| Comments Off on (HIG) Hartford Financial Services Group Refunds Premiums – Cuts Rate
We are downgrading our recommendation on Citigroup Inc. (C) to Underperform from Neutral based on its failure to pass the Federal Reserve’s most recent stress test.
Investors were widely speculating about the amount of money...
9Apr2012 | vitalstocks
| Comments Off on (C) Citigroup Analyst Lowers Shares to Underperform
On Thursday, the dismissal of lawsuit pertaining to the buyback of defective mortgage-backed securities (MBS), gave reprieve to Bank of America Corporation (BAC). The lawsuit was filed against BofA by a group of investors led by Walnut...
2Apr2012 | vitalstocks
| Comments Off on (BAC) Bank of America Wins Dismissal of Lawsuit
After resisting its largest shareholder, John Paulson’s incessant pressure for almost two months, Hartford Financial Services Group Inc. (HIG) finally gave in to the demands of segregating its life insurance and property and casualty...
23Mar2012 | vitalstocks
| Comments Off on (HIG) Stressed Hartford Financial Services Group Announces Split
After penalizing the country’s five largest mortgage servicers last month, the Federal Reserve now plans to fine eight other banks for foreclosure abuses. This was stated by Suzanne G. Killian, a senior associate director of the Fed, at a congressional hearing in Brooklyn.
The banks that...
22Mar2012 | vitalstocks
| Comments Off on (GS) Federal Reserve to Fine Eight Other Banks for Foreclosure Mess
On Monday, American International Group Inc. (AIG) issued long-term notes worth $2 billion in a two-part offering, according to Thomson Reuters.
Accordingly, one fraction of senior unsecured notes is valued at $1.25 billion....
22Mar2012 | vitalstocks
| Comments Off on (AIG) American International Group Raises $2 Billion from Note Offerings
Basking after an impressive quarter, American Express Co. (AXP) (AmEx) announced its intention of buying back shares worth $5 billion within two years, besides initiating about an 11% hike in its regular dividend to 20 cents from the...
14Mar2012 | vitalstocks
| Comments Off on (AXP) American Express Announces $5 Billion Share Buyback
In an attempt to repay the government bailout loan, American International Group Inc. (AIG) disclosed its plans earlier today to raise funds from the part-sale of its left over one-third stake in its Asian wing – AIA Group Limited...
6Mar2012 | vitalstocks
| Comments Off on (AIG) American International Group to Sell About 13% Stake in AIA
Earnings Preview 2/10/12
Earnings season will be still going on this next week. 422 firms are scheduled to report, and 50 of those are members of the S&P 500. By the end of the week we will be over 80% done with earnings...
13Feb2012 | vitalstocks
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The impact of a series of natural disasters in 2011 and the ongoing economic uncertainty is still quite palpable in the performance of U.S. insurers. These impediments aside, there are fundamental challenges that are expected to come in the way insurers’ efforts to meet growing investor expectations...
13Feb2012 | vitalstocks
| 0 comments
The major US indices registered gains to close in the green after a slew of positive economic reports were released at home and in China. A successful debt auction in Europe added to the cheer. However, the gains were limited, as investors’ sentiments were dampened after the banking sector incurred...
18Jan2012 | vitalstocks
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Last week, we upgraded our recommendation on American International Group Inc. (AIG) to Neutral from Underperform based on its improving capital flexibility. Besides, asset...
14Jan2012 | vitalstocks
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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 | vitalstocks
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