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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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British insurer Friends Provident rejected a 3.5 billion pound ($7 billion) cash takeover proposal from U.S. private equity firm JC Flowers because it "significantly undervalues" the firm, Friends said.
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European stocks closed mostly lower Monday as investors drew a line under the worst quarterly performance in equity markets in more than five years.
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California's Treasurer isn't welcoming Warren Buffett's move into the bond insurance business. He's even talking about getting the state into the business itself to compete with Berkshire Hathaway's conservative, and pricey, view of risk in the muni bond market.
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Life insurer Swiss Life's 2007 net profit beat expectations and it promised shareholders a fat pay-out after a major overhaul of its business, sending its shares soaring.
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Merck this morning announced that it has filed for Food and Drug Administration approval of its blockbuster cervical cancer vaccine, Gardasil, for women 27-45 years old. Right now it's approved for females 9-26.
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Major European stock indexes closed more than 3 percent higher on Tuesday ahead of the Federal Reserve's interest-rate-setting meeting, and after U.S. banks Goldman Sachs and Lehman Brothers reported earnings that beat markets expectations.
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China's Ping An Insurance is in the final stage of talks to buy a major stake in the asset management arm of Belgian-Dutch financial group Fortis, two sources with direct knowledge of the situation said on Friday.
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UK insurer Prudential posted a 25 percent rise in 2007 profit on Thursday, broadly in line with forecasts, helped by growth in Asia and the absence of loss-making Internet bank Egg, sold to Citigroup in early 2007.
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Shares of American International Group fell as much as 8 percent Thursday on concern the world's largest insurer could face larger-than-expected losses from a credit derivatives portfolio that has already led it to $11 billion in write-downs.
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Ambac Financial Group saved the top ratings on its bond insurance arm on Wednesday, as two rating agencies ended their reviews to downgrade the company in what would have been a crucial blow to its business.
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Insurer Standard Life posted a forecast-beating 43 percent rise in 2007 operating profit on Wednesday, despite a 249 million pound ($501 million) charge as UK customers continue to cash in policies early.
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Everyone's favorite small-cap biotech put out a press release this morning, announcing that the Food and Drug Administration has agreed to change the Special Protocol Assessment (SPA) for Dendreon's Provenge.
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Though Wall Street has been quick to judge the character failings of Gov. Eliot Spitzer following his alleged participation in a prostitution ring, the man’s record as a crime-fighter against Wall Street and Corporate America drew mixed reviews.
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On a day when the market posted its biggest gains in years, the health insurers got obliterated. All is not well in this group, but there's one stock that could make it out alive.
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Economic losses from natural and man-made catastrophes in 2007 were more than $70 billion, with insurers hit by claims amounting to $28 billion, according to research released on Tuesday by Swiss Re, the world's largest reinsurer.
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Billionaire Alfred Mann must not have liked watching stock in the company bearing his name fall to another new low today in the wake of Eli Lilly giving up on inhaled insulin.
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This is a big week for the world's top-two biotechnology companies and their investors. Amgen goes before an FDA Advisory Committee Thursday about the side effects of its bread-and-butter franchise Aranesp.
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Seven years after Warren Buffett's Berkshire Hathaway invested $300 million in White Mountains Insurance Group, it is selling its 16.3 percent stake in a $836 million deal.
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Warren Buffett's Berkshire Hathaway will sell its 16.3 percent stake in White Mountains Insurance Group Ltd in a transaction valued at $836 million, seven years after investing in the Bermuda-based insurer, White Mountains said Monday.
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Nationwide Mutual Insurance on Monday offered to buy all the publicly listed shares of Nationwide Financial Services in a $2.2 billion move to simplify the mutual company's ownership structure.