Insurance industry
Sri Lanka is expected to formally approach Lloyd's of London, a British insurance market, to reevaluate its classification of the country as a region of war. This move comes after the military defeat of the Tamil Tigers last week, which has significantly reduced the risk of conflict in
Insurance industry
Marketwire, a leading source of breaking news releases, highlighted MaybachFinancial.com, an independent and unbiased research firm in Europe, as one of the fastest growing entities in the industry. Through its partnerships with top investment minds, MaybachFinancial.com provides research on companies making significant moves in the markets. Investors can
Insurance industry
Massachusetts Attorney General Martha Coakley has reached a $176,000 settlement with Great American Insurance Co. regarding alleged bid rigging by the insurer. The settlement follows Coakley's office accusing Great American of knowingly participating in a scheme with broker Marsh & McLennan Cos. to submit fake and intentionally
Insurance industry
The US Treasury Department has announced an extension of the Troubled Assets Relief Program (TARP) to life insurers, in an effort to shore up their capital positions in the wake of major investment losses. Secretary Timothy Geithner revealed that the TARP fund has $110 billion left, excluding funds committed to
Insurance industry
As the recession deepens in the United Kingdom, property investors should be aware of the potential risks and take steps to mitigate them, according to John Searing, head of property risk for broker Jardine Lloyd Thompson Group plc in London. The current economic climate has led to a decrease in
Insurance industry
StockPreacher.com has made trade alerts on stocks making news available to investors. The daily updates include analysis of American International Group, Inc., AutoZone Inc., Bank of America Corporation, Berkshire Hathaway Inc., Capital One Financial Corp., and Emerson Electric Co. These trade alerts provide a concise summary of market-driving information,
Insurance industry
Leading companies in the United States will participate in conference calls scheduled for May 4, 2009, through the Investrend Broadcast Syndicate. The calls are expected to cover critical market trends, geopolitical conditions, and news from conferences and economic releases. As the market continues to navigate the economic downturn, investors and
Insurance industry
The Florida Senate has approved a measure to transform the state's insurance market, including reforms to Citizens Property Insurance Corp. and the Florida Hurricane Catastrophe Fund. The reforms aim to increase private insurers' participation in the market and reduce the risk for state-backed companies. The bill now
Insurance industry
Bloomberg and Datamonitor are reporting that ACE Limited, a Bermuda-based insurance and reinsurance company, is considering an acquisition of the property and casualty insurance business of The Hartford Financial Services Group, Inc., a US-based diversified insurance and financial services company. The Hartford has retained Goldman Sachs to manage the sale
Insurance industry
ACE Limited, a Bermuda-based insurance and reinsurance company, has been reported as a possible bidder to acquire the property and casualty insurance business of The Hartford Financial Services Group, Inc., a US-based diversified insurance and financial services company. According to Citigroup, Inc., the business could be worth between $4,000
Insurance industry
American International Group (AIG), a leading provider of insurance and financial services, has signed a definitive agreement to sell 21st Century Insurance Group, an insurance holding company, to Farmers Group, Inc. (FGI). The transaction, valued at $1.9 billion, marks a significant move for AIG as it continues to restructure
Insurance industry
Treasury Secretary Timothy Geithner presented a broad plan for financial regulatory reform before the House Financial Services Committee, outlining four key areas for reform: systemic risk, consumer and investor protection, eliminating gaps in the regulatory structure, and international coordination. The plan aims to strengthen oversight and regulation of the financial
