Insurance
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Meiji Yasuda, one of Japan's three largest life insurers, had said last month that it would consider buying higher-yielding foreign bonds as the central bank's policies were expected to erode the already marginal yields on Japanese government debt. Japan's life insurers hold roughly half of their assets in JGBs.
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WASHINGTON, May 23- The wealthiest 20,000 U.S. farmers should pay more for taxpayer subsidized crop insurance, the Senate voted on Thursday, adopting a measure that blended deficit reduction, populism and farm program reform. It would expand by 5 percent in the Senate bill even as other farm, conservation and nutrition programs are cut by $24 billion over 10 years.
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LOS ANGELES, May 23- California unveiled prices on Thursday that consumers will pay for a selection of health plans offered through the state under the Affordable Care Act, providing a glimpse into how health care reform may look as it is rolled out across the nation.
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*MBIA, FGIC to recoup about $1 billion. NEW YORK, May 23- While bond insurers MBIA Inc and FGIC Corp receive the lion's share of Ally Financial Inc's $2.1 billion contribution to the debts of mortgage lender Residential Capital LLC, hedge funds like Paulson& Co may have obtained a better deal.
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*MBIA to have unsecured claims of $3.6 bln. May 23- Ally Financial Inc agreed to pay $2.1 billion to Residential Capital LLC to settle claims that it stripped the bankrupt mortgage subsidiary of choice assets. Creditors who objected to the original deal included ResCap's unsecured creditors, bond insurers such as MBIA Corp and Assured Guaranty Corp, and others.
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May 23- American International Group Inc's board is looking for a new director with regulatory experience, as the insurer readies for the government to classify it as big enough to merit greater scrutiny, according to two sources familiar with the situation.
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Chris Ludeman, Global President of Capital Markets at CBRE, discusses Taiwan's move to ease property investment rules for insurers and the markets that are likely to benefit.
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OTTAWA, May 22- The Canadian government is examining the role of the federal housing agency in providing insurance for mortgage portfolios held by banks, Finance Minister Jim Flaherty said on Wednesday.
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Once the dust settles and the victims have been accounted for, Moore, Okla., will begin the gargantuan task of rebuilding itself. It's a task that will take billions of dollars in federal and state aid, insurance claims and charitable donations, the CSM reports.
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NEW YORK, May 21- French President Francois Hollande's predicament is, oddly enough, akin to one Alice faced in Lewis Carroll's 19th century classic. "The situation is much worse in France in the past year," Chaney told me from Paris, where AXA, Europe's No. 2 insurer, is based. " What the queen said to Alice applies to France. "
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A report from the medical examiner's office in Oklahoma confirms 24 fatalities, reports CNBC's Jane Wells.
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A report on the ongoing rescue efforts in Oklahoma, and the impact on insurers, with CNBC's Jane Wells and Mary Thompson; and Joplin City Manager R. Mark Rohr and WeatherFX Chief Meteorologist Paul Walsh, offers insight.
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SANTA FE, N.M.-- New Mexico is switching gears on its plan for a health insurance exchange and initially will partner with the federal government for computer services needed for an online insurance marketplace.
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NEW DELHI/ SEOUL, May 21- India has slashed Iranian oil imports by almost a fifth since December, the sharpest cut among Asian buyers, in a move that should increase its chances of winning a new U.S. waiver next month on sanctions targeting oil trade with Iran.
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WASHINGTON, May 20- The U.S. Senate should cut crop insurance subsidies, the most expensive part of the farm safety net, by $1 billion a year before it passes the new farm bill, the White House said on Monday. The House would make the biggest food stamp cuts in a generation, $20 billion, compared to $4 billion in the Senate.
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NEW YORK-- American International Group Inc. said Monday that it will spend $718.1 million Hong Kong dollars in a rights offering by Chinese insurance company PICC Property and Casualty Company Ltd.. The company is a subsidiary of The People's Insurance Company of China Ltd. and is traded in Hong Kong.
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CAMP HILL, Pa.-- Drugstore chain Rite Aid Corp.' s board of directors has elected former Blue Shield of California Chairman and CEO Bruce G. Bodaken to its board of directors. Rite Aid spokeswoman Ashley Flower said Bodaken's addition brings the board to 10 members and is not tied to the April resignation of Michael Coutu.
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There's a lot on the agenda as Detroit's emergency financial manager tries to meet a deadline to decide whether the city and escape a bankruptcy filing.
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*Pilot scheme in Jakarta triggered overcrowding at hospitals. JAKARTA, May 20- When a sick Indonesian baby died after 10 hospitals in Jakarta turned her family away in February, critics blamed a pilot health insurance scheme that had overwhelmed the city's public hospitals.
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DETROIT, May 19- Bond restructurings, negotiated settlements with bondholders and bond insurers, and tough talk with unionized workers are on the agenda as Detroit's emergency financial manager tries to meet a self-imposed, six-week deadline to decide whether the city can get through its financial crisis without a bankruptcy filing.