Insurance industry
On April 24, 2004, StockPickReport.Com, a registered investment advisor, issued short-term stock recommendations through its website. The firm, which uses technical analysis to rank stocks, provided the following ratings: Micron Technology Inc (NYSE:MU) - STRONG SELL, Best Buy (NYSE:BBY) - BUY, Prudential Financial Inc (NYSE:PRU) -
Insurance industry
Nearly 1,000 in-house agents at Prudential Financial Inc. have voted in favor of representation by the Office and Professional Employees International Union's Local 153, reversing a previous ballot taken two years ago. The vote signifies a significant shift in the industry, as insurance agents, typically considered commission-based
Insurance industry
ESIS, the risk management services arm of ACE USA, has introduced the ESIS OSHA Recordkeeping Solution, a comprehensive system designed to assist businesses in complying with OSHA regulatory posting laws. The solution automates the process of recordkeeping, enabling businesses to electronically populate OSHA forms and reducing the time spent on
Insurance industry
ACE USA, the U.S.-based retail operating division of The ACE Group of Companies, has introduced Storm Tracker(SM), a new insurance product that provides coverage for business losses occurring when a hurricane arrives within a predetermined number of miles of an insured location, even if there is no
Insurance industry
A.M. Best Co. has assigned a financial strength rating of "B++" (Very Good) to CIGNA Life Insurance Company of Europe SA - NV (CLICE), citing the company's very good prospective capitalisation, niche business profile, and strong financial flexibility. However, the rating is offset by the
Insurance industry
The US stock market kicked off the day with a modestly negative start, but quickly rebounded after the Institute for Supply Management (ISM) released stronger-than-expected services data. The Dow Jones Industrial Average shot up 31 points, with health care stocks leading the charge. The Nasdaq also surged, with biotechs performing
Insurance industry
The impending layoff of over 1,000 employees at Standard Life, one of Scotland's largest employers, serves as a stark reminder of the Scottish Executive's inaction in supporting the country's financial services sector. Despite being touted as a key provider of jobs in Scotland,
Insurance industry
Scotland's financial services sector has been dealt a significant blow as Standard Life, a leading insurance giant, has revealed plans to axe 1000 jobs and pursue demutualisation. The Edinburgh-based firm, which employs 14,500 workers, aims to reduce costs by 20% to improve profitability at its UK life
Insurance industry
The National Association of Home Builders (NAHB) has issued a statement opposing the discussion draft legislation to restructure the regulatory framework of government-sponsored enterprises (GSEs) Fannie Mae, Freddie Mac, and the Federal Home Loan Bank System. The draft legislation, released by the Senate Banking Committee, has been criticized by NAHB
Insurance industry
National leaders are under scrutiny for their handling of the Medicare program, which is predicted to run dry by 2019, seven years sooner than previously estimated. The program's finances have taken a major downturn, despite President Bush's promises to strengthen its long-term financial security. Citizens Against
Insurance industry
State regulators gathered at the National Association of Insurance Commissioners' (NAIC) spring meeting in New York to discuss the implications of a proposed bill that would increase the federal role in overseeing the insurance industry. The bill, set to be released by the House of Representatives, aims to provide
Insurance industry
Safeco Corp., a Seattle-based insurance company, has agreed to sell its life and investment operations to a group of investors led by White Mountains Insurance Group Ltd. and Berkshire Hathaway Inc. for a total of $1.35 billion. The sale includes Safeco Life & Investments' life insurance, group insurance,
