WASHINGTON— The Obama administration says consumers in most states will have more insurance options next year under the president's health care law. The Health and Human Services department on Tuesday reported a net increase of 63 insurers joining the market in 44 states. Indiana will see a net gain of five insurers, while California faces a net loss of two.» Read More
MetLife is the third insurer to be tapped for such a designation, which comes with heavy capital requirements and strict supervision by the Federal Reserve, comparable to that of the largest banks. MetLife said it was not ruling out "any of the available remedies" under the 2010 Dodd-Frank law to contest the designation.
MetLife is the third insurer to be tapped for such a designation as "systemically important," which comes with heavy capital requirements and strict supervision by the Federal Reserve comparable to that of the largest banks.
WASHINGTON, Sept 4- Insurer MetLife said on Thursday that the U.S. financial risk council had proposed to designate it as "systemically important," a tag that brings far tighter government oversight.
DETROIT, Sept 3- Detroit claimed on Wednesday that its plan to adjust its debt and exit bankruptcy is feasible and fair to creditors, but a bond insurance company contended the plan calls for "historic levels of discrimination" among creditors.
"It's another example of just how bad things are in the consumer credit sector," said Nic Norman-Smith, chief investment officer of Lentus Asset Management, which owns shares in JD Group's parent, Steinhoff International.
HONG KONG, Sept 1- Your child throws a tantrum and smashes something? Premiums in China are less than $278 billion a year, way below the $1.3 trillion paid in the United States and below even the UK's $330 billion, according to Munich Re and Swiss Re data.
The challenges highlight the difficulties that bailed-out Banco Espirito Santo and its successor Novo Banco face as they try to recover some of the family's massive debts.
Drivers beware on New England roads! Five of the region's cities rank in the Top 10 worst for accidents, according to Allstate Insurance.
TOKYO, Aug 29- Twenty-one companies have applied to underwrite Japan Post's initial public offering scheduled for 2015, which market participants expect to raise almost $10 billion for the government. State-owned Japan Post provides post office, insurance and banking services and is the country's largest savings institution.
Japan's government will increase the inheritance tax rate in January, while tax relief measures on gifting will be expanded.
AIG CEO Benmosche learned in May that he had less than a year to live, leading to his decision to resign earlier, Bloomberg Businessweek reported.
FRANKFURT, Aug 28- The Ukraine crisis and its impact on relations between Russia and the West is crimping German growth and could lead to a rise in manufacturing sector insolvencies in the second half of this year, credit insurer Euler Hermes said on Thursday.
NAPA, Calif. Aug 28- During Sunday's 6.0 magnitude earthquake, some $75,000 worth of bottles of wine, rum and whiskey flew off the shelves of Aiyaz Masani's liquor store in Napa, California.
AMSTERDAM, Aug 28- SNS Reaal, the Dutch financial services group nationalized last year, said international and domestic parties had expressed interest in its insurance operations which will go up for sale in September.
Regulators decided on Aug. 3 to put its healthy assets into a new entity, Novo Banco, and leave family borrowings, shareholders and junior creditors behind in BES.
HONG KONG, Aug 27- Hong Kong shares finished lower on Wednesday, hit by afternoon session losses as investors took profit on recent outperformers and sold shares in companies with weak earnings. The China Enterprises Index of the leading offshore Chinese listings in Hong Kong was down 0.5 percent, snapping a three-day winning streak.
The session will include bond insurers that guaranteed payment on the COPs- Syncora and Financial Guaranty Insurance Co.. In an Aug. 12 court filing, Syncora lashed out at mediators, including Rosen, who brokered the grand bargain, which is also aimed at protecting the museum's artwork from being sold to pay Detroit creditors.
There's a new type of insurance coverage in the Farm Bill which may protect the farmer if corn prices fall but some farmers are reluctant to buy new equipment when profits drop, reports CNBC's Jane Wells.
HONG KONG, Aug 26- Hong Kong's benchmark share index finished lower on Tuesday, as weakness in a few heavyweight stocks canceled out strength in oil companies. Asia insurance giant AIA Group lost 0.9 percent. PetroChina climbed 2.4 percent and CNOOC 0.7 percent.
The 6.0-magnitude earthquake that struck California on Sunday could cause more $1 billion in losses and the majority of residents will be on their own.
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