NEW YORK, Sept 29- The industry group that regulates securities brokerages has decided it cannot force firms to carry insurance for payment of awards granted by arbitration panels or courts to customers who have lost money, a spokeswoman said on Monday.» Read More
*Allianz says Gross departure does not change Pimco relationship. FRANKFURT, Sept 29- German insurer Allianz says it has no plans to increase oversight of its California- based investment unit Pimco after the shock departure of co-founder Bill Gross sent shares in the Munich- based parent tumbling at the end of last week.
FRANKFURT, Sept 29- Allianz is set to extend the contract of its Chief Executive Michael Diekmann by two years as the German insurer seeks to soothe the turmoil over leadership change at its Pimco subsidiary, a German newspaper reported.
WASHINGTON, Sept 29- One of the more unusual trials to come out of the 2008 financial crisis is set to begin on Monday, when a federal judge will consider whether the U.S. government's rescue of American International Group Inc was, in fact, legal.
*Allianz shareholders call for stable leadership. *Contract of Allianz CEO, others up for renewal. FRANKFURT, Sept 26- German insurer Allianz suffered a humiliating blow on Friday with the resignation of renowned investor Bill Gross as leader of Pimco, the asset manager Allianz relies on for one fourth of its operating profit.
NEW YORK, Sept 26- Shares of Janus Capital soared on Friday, with the stock on track for its best one-day advance in its history, after Janus said famed bond investor Bill Gross would join the company. A source familiar with the matter told Reuters that the development came a day before Pimco and its parent, German insurer Allianz SE, planned to dismiss Gross.
*Allianz tumbles 6 pct as Gross leaves Pimco. PARIS, Sept 26- European shares trimmed gains in afternoon trade as shares of German insurer Allianz plunged on news that fund manager Bill Gross was leaving Allianz's asset-management unit Pimco.
Another UN climate change summit has experts wondering if anything will get done and if the right measures to stop greenhouse emissions are in place.
PARIS, Sept 26- European shares trimmed their gains in afternoon trade as shares of German insurer Allianz sank on news fund manager Bill Gross was leaving Allianz's asset-management unit Pimco. Gross, one of the bond market's most renowned investors, will be joining Pimco's rival Janus Capital Group, Janus said on Friday.
JOHANNESBURG, Sept 26- Global warming in Africa may soon move bond markets. In 2016, the first climate change bonds will be issued from Africa- unique instruments that will enable the world's poorest continent to tap both capital markets and donor funds to bolster its defenses against extreme weather events such as prolonged drought or extreme heat.
WASHINGTON— More than a dozen U.S. senators from both parties are calling on the Obama administration to broaden a Medicaid program for the nation's frailest seniors, calling it a proven alternative to pricier nursing home care as states seek to limit long-term medical costs.
LOS ANGELES— UnitedHealth Group Inc. has sued two brothers who ran a company that promoted Lap-Band weight-loss surgery, accusing the pair of defrauding the insurer of more than $40 million through a complex billing scheme.
Why are financial stocks the cornerstone of Warren Buffett's empire? His love of bank stocks can be explained in two key investing concepts.
MADRID— Spanish insurance company Mapfre says it has bought the German and Italian units of Britain's Direct Line motor insurance group for 550 million euros. Mapfre said in a statement Thursday that the two units have a total of 714 million euros in insurance premiums, 1.6 million clients and had 19.5 million euros in pretax profit in 2013..
Inga Beale, CEO of Lloyd's of London, says underinsurance is a big concern for the company, with governments footing the bill in areas where there are lots of natural catastrophes.
Bank stocks may be sexier, but investors who overlook insurance stocks aren't claiming what could be big profit potential.
WINTER PARK, Fla.— Florida's so-called "hurricane tax" will finally come off the insurance bills of its residents. Citizens Property Insurance agreed Wednesday to remove a 1- percent surcharge on homeowner and auto insurance policies, including the policies of people who aren't even Citizens customers.
Sept 24- Warren Buffett's Berkshire Hathaway Inc isn't AIG's biggest competitor and AIG handles all its rivals in a very effective way, former AIG Chief Executive Robert Benmosche told Bloomberg TV.
CNBC's Morgan Brennan reports which insurance stocks are lagging this year.
NEW YORK— When Monty Hagler learned his employee insurance premiums could rise as much as 38 percent, the small business owner decided he couldn't afford coverage that complies with the health care overhaul.
ALBANY, N.Y.— New York will require health insurers to provide coverage for equipment and supplies for treating ostomies, intended to help ease the financial burden for people with the chronic condition. Andrew Cuomo, take effect Jan. 1.
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