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WASHINGTON-- The government's consumer finance watchdog agency said Thursday that it has ordered four national mortgage insurers to pay $15.4 million combined to resolve claims that the companies paid millions in kickbacks to mortgage lenders for more than a decade.
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WASHINGTON, April 4- Four mortgage insurers agreed to pay about $15 million to settle claims that they paid kickbacks to mortgage lenders in exchange for business, the U.S. consumer watchdog said on Thursday.
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HONG KONG, April 5- The mystery lender behind a Thai billionaire's $9.4 billion purchase of a stake in China's No.2 insurer was UBS, which offered a last minute and complex financing package known to only a few involved, people with knowledge of the matter told Reuters.
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BATON ROUGE, La.-- The governing board for Louisiana's property insurer of last resort didn't choose an alternate approach Wednesday to balance the company's books after a $100 million borrowing plan stalled at the state capitol.
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WASHINGTON, April 4- Four mortgage insurers settled claims from the U.S. consumer watchdog that they paid kickbacks to mortgage lenders in exchange for business.
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NEW DELHI, April 3- India plans to set up a fund of up to 20 billion rupees to back local insurers in offering cover to refiners who process Iranian crude, three government sources said, as sanctions discourage global reinsurers from taking on the risk.
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DES MOINES, Iowa-- An Iowa Senate panel approved a bill Tuesday that would give a new income tax break to small businesses if they cover part of their employees' health insurance. Matt McCoy, of Des Moines, estimates more than 73,000 businesses could benefit.
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*Healthcare stocks rally, Humana among S&P's top percentage gainers. The news boosted shares of some health insurers, including Humana, which derives about two-thirds of its revenue from Medicare Advantage business.
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NEW YORK, April 2- A New York state appeals court on Tuesday cleared the way for bond insurer MBIA Inc to pursue a fraud lawsuit against Bank of America Corp over toxic mortgage securities. A panel of New York's Appellate Division said MBIA did not need to wait for loans to go into default before it could force Bank of America to buy them back.
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*S&P 500 index still shy of all-time intraday high. S&P 500 index nearing its all-time high, while the dollar rallied from a one-month low against the yen on bets the Bank of Japan will announce further monetary easing this week.
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NEW YORK, April 2- U.S. stocks ended higher on Tuesday, though off their session highs, with increased payment rates for some health insurers boosting the sector. The Dow Jones industrial average was up 89.16 points, or 0.61 percent, at 14,662.01. The Nasdaq Composite Index was up 15.69 points, or 0.48 percent, at 3,254.86.
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*Healthcare stocks rally, Humana is S&P's top percentage gainer. NEW YORK, April 2- U.S. stocks rose on Tuesday, moving the S&P 500 closer to its all-time intraday high, as increased payment rates for some health insurers boosted the sector and Cyprus concluded bailout talks.
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*Healthcare stocks rally, Humana is S&P's top gainer. Humana, which derives about two-thirds of its revenue from Medicare Advantage business, rose 7 percent to $80.11. UnitedHealth Group rose 6.2 percent to $62.67, and Cigna Corp was up 4.1 percent to $65.49.
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Humana Inc said on Tuesday that the government's move is an improvement over earlier proposals, but it still faces challenges in certain parts of the country.
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CNBC's Bertha Coombs explains how a change in budget calculations sent some health insurance shares higher.
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CNBC's Bertha Coombs explains why the government's new program for Medicare and Medicaid has sent some insurers soaring.
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April 2- Humana Inc said on Tuesday that the government's increase in its payment rate for Medicare Advantage in 2014 is an improvement over a proposed reduction but said that "meaningful challenges" in certain geographical areas are ahead.
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Shares of several health insurers climbed in premarket trading Tuesday, a day after the federal government released final Medicare Advantage rate data for next year that points to less severe funding cuts than investors had originally feared.
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NEW YORK-- Property and casualty insurer ACE Ltd has completed its acquisition of Mexico's Fianzas Monterrey for about $293 million from New York Life Insurance Co..
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Following intense lobbying from the health insurance industry and members of Congress, the U.S. government said it will increase the payment rate for health insurers that offer coverage through the popular Medicare Advantage program.