TALLAHASSEE, Fla.-- Florida's Citizens Property Insurance Corp.' s chief financial officer is stepping down. The state-created insurer announced the resignation of CFO Sharon Binnun on Monday. It said she will be taking a job with a private Florida insurer that hasn't done business with Citizens in its effort to shed policies.» Read More
The insurance giant said in a regulatory filing Wednesday that it had received a deposit related to the sale of International Lease Finance Corp. It didn't provide details, and a company spokesman declined to comment.
BOSTON, June 5- Insurer American International Group Inc has received a delayed deposit payment from the Chinese consortium buying its ILFC airplane leasing business, AIG said in a regulatory filing on Wednesday. Last week AIG said it had not received the payment as scheduled, a development that threatened to derail the deal, worth up to $4.8 billion.
*Iran's April shipments were 800,000 bpd. LONDON/ NEW DELHI, June 5- Western sanctions drove Iran's crude exports to the lowest in decades in May, according to industry sources and tanker-tracking data, even before Washington toughens measures aimed at squeezing oil sales further.
HONG KONG, June 5- Hong Kong shares sank to their lowest in six weeks on Wednesday, with mainland Chinese markets also weak, as fears of a cut in U.S. stimulus efforts gained ground following comments from top Federal Reserve officials. Asia insurer giant AIA Group led losses among Hang Seng Index components as investors took profits on the year's outperformers.
HONG KONG, June 5- Hong Kong shares sank to their lowest in six weeks on Wednesday, with Asian insurer AIA and property developers among the biggest drags after senior U.S. Traders cited a mainland news report citing AIA's China chief executive as saying insurers face increasing competition from other financial products in China.
BIRMINGHAM, Ala., June 4- JPMorgan Chase& Co, several hedge funds and bond insurers holding 78 percent of sewer debt from Alabama's bankrupt Jefferson County have signed off on a deal aimed at ending the largest U.S. municipal bankruptcy, a lawyer for the county said on Tuesday.
BIRMINGHAM, Ala., June 4- JPMorgan Chase& Co., several hedge funds and bond insurers holding 78 percent of sewer debt from Alabama's bankrupt Jefferson County have signed off on a deal aimed at ending America's largest municipal bankruptcy, a lawyer for the county said on Tuesday.
WASHINGTON, June 4- Mortgage financiers Fannie Mae and Freddie Mac would be liquidated within five years and replaced by an entity offering government reinsurance for mortgage-backed debt under draft legislation from a bipartisan group of U.S. senators.
*As storm season starts, Florida worries about insurance. *Florida has not been hit by a major hurricane since 2005. "It's very fortunate for Florida that is has been able to build up its reserves, but the fact of the matter is that Florida is living on borrowed time," said Robert Hartwig, president of the Insurance Information Institute.
CNBC's Jane Wells reports the name of the asteroid flying by Earth is "1998 QE2," and it won't get any closer to Earth than 3.6 million miles.
Asteroid alert! CNBC's Jane Wells reports on the asteroid passing by Earth today.
In just a few hours a two-mile wide asteroid will pass right by Earth, if it veers off course and collides with your house, will insurance cover it? CNBC's Jane Wells has the answer.
May 31- A Chinese group's purchase of ILFC, one of the world's largest airplane leasing businesses, could collapse after insurer American International Group Inc said on Friday it did not receive a scheduled deposit payment. AIG said last December it would sell up to 90 percent of ILFC for up to $4.8 billion.
May 31- Last year, Natalia Esparra, then 34 and a new bride, learned that something had gone wrong with her photographer's memory card and that all of her wedding photos had disappeared. In 1993, Fireman's Fund Insurance Company, based out of Novato, California, began offering the coverage at a time when the average wedding cost $16,000.
May 31- Insurer American International Group Inc said on Friday it had not received a scheduled deposit payment related to its sale of airplane leasing company ILFC to a Chinese consortium. AIG said last December it would sell most of ILFC for up to $4.8 billion.
May 31- Insurer American International Group on Friday said it had not received a scheduled deposit payment related to its sale of airplane leasing company ILFC to a Chinese consortium. It was not immediately clear from AIG's regulatory filing what that meant for the fate of the deal, and AIG spokesmen were not immediately available to comment.
*Insurer suing Bank of America, Countrywide in California. District Judge Mariana Pfaelzer in Los Angeles that AIG did not assign $7.3 billion of those claims, which are part of a fraud lawsuit by the insurer against Bank of America Corp and its Countrywide unit.
May 30- Thirty-three states have enlisted the federal government to run their health insurance exchanges under President Barack Obama's healthcare reform law. Blue Cross Blue Shield of Arizona, Aetna Inc, Cigna Corp and Humana Inc filed documents for exchange products with the state department of insurance.
WASHINGTON, May 30- The White House, seeking to show early success for President Barack Obama's health reforms, said more than 120 insurers have applied to sell plans on federally-run online marketplaces that begin offering subsidized coverage in just over four months.
WASHINGTON, May 30- Federally-run health insurance exchanges created under President Barack Obama's healthcare law have drawn applications from 120 insurance plans and added at least one new insurer in 75 percent of the states, according to a White House memo.