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Insurer Swiss Life raised its targets on Tuesday, aiming to boost earnings per share by at least 12 percent annually, and said the credit crisis will not hit its results, lifting its shares.
Mergers and acquisitions were back Monday as numerous high-profile companies announced plans to tie up despite recent tightness in the credit market and uncertainty over the strength of Western economies.
MetLife, the largest U.S. life insurer, Monday forecast fourth-quarter and 2008 earnings below analysts' expectations, sending its shares down as much as 3.4 percent.
Marsh & McLennan said Monday that Daniel Glaser will become chairman and chief executive of Marsh Inc, the insurance brokerage's main operating subsidiary, effective Dec. 10.
Swiss Life advanced a sweeping restructuring on Monday, unveiling plans to buy German investment adviser AWD in an agreed deal valuing AWD at 1.16 billion euros ($1.71 billion).
Senator Herb Kohl (D-Wisconsin), the Chairman of the Senate's Special Committee on Aging, has made public a copy of a letter he recently sent to Genentech's President of Product Development, Dr. Susan Desmond-Hellmann--a frequent guest on CNBC--regarding the company's new policy on the use of the eye drug Lucentis.
Ping An Insurance (Group), China's No.2 life insurer, bought a 4.2 percent stake in Dutch-Belgian financial services firm Fortis for $2.7 billion, the latest overseas investment by a Chinese financial firm.
Today's Wall Street Journal Heard on the Street column quotes some unnamed "people familiar with the matter" as saying Warren Buffett's Berkshire Hathaway could make big profits by throwing a "lifeline" to bond insurers hurt by excessive fears over credit market losses.
Allianz is on course for its 2007 earnings goals despite renewed pain at problem child Dresdner Bank which saw 575 million euros ($845 million) in write-downs in the third quarter and warned of more.
American International Group reported third-quarter earnings of $1.35 per share, sharply missing Wall Street estimates of $1.62.
Net profit at Swiss Re dropped by less than expected in the third quarter, as the world's largest reinsurer benefited from low claims and said damage from a global credit crisis was limited.
Munich Re may beat its 2007 earnings target and has little risk from its remaining subprime investments, the reinsurer said on Monday after lower taxes helped it post a strong rise in third-quarter net profit.
Former American International Group chief executive and major stockholder Maurice "Hank" Greenberg said in a filing on Friday that he was considering "strategic alternatives" for the world's largest insurer.
Operating earnings at Warren Buffett's Berkshire Hathaway fell slightly in the third quarter, with a big drop in profits for its insurance-underwriting operations.But the company posted a big increase in net earnings due to a $2 billion dollar one-time gain from sales of investments (PetroChina!)
Yet another chapter in the unfolding saga of Genentech's Avastin being used instead of Lucentis to treat age-related macular degeneration (AMD). The other day I blogged about the new "Open Letter" on the company's homepage announcing that it's delaying the implementation of its attempted crackdown on the cheaper, similar cancer drug being used...
Prudential Financial, one of the largest U.S. life insurers, said on Wednesday that third-quarter net income fell 25 percent, hurt by investment losses, but operating earnings beat analysts' expectations.
MetLife, the largest U.S. life insurer, said on Wednesday that net earnings per share were barely changed for the third quarter, as it suffered investment losses, but operating net beatanalysts' estimates.
Today's the day Eli Lilly was expected to get a Food and Drug Administration decision on the first-ever one-a-day impotence drug. Right now, the company sells Cialis for use as needed. But men could pop this one every day--like an aspirin or multi-vitamin--so the drug would always be "on boa
In a remarkably candid "Open Letter" on the homepage of its web site Genentech is taking a step back from implementing its new restrictive policy over the use of the cancer drug Avastin in lieu of Lucentis for age-related macular degeneration (AMD), the leading cause of adult blindness. I had recently blogged about the company's action and angry reader response to it.
CNBC's Becky Quick traveled exclusively with Warren Buffett on a whirlwind tour of China and South Korea. All this morning on Squawk Box, she is reporting in-depth on the trip and what it tells us about Buffett's investment philosophy. In this excerpt from an interview with Buffett while he and Becky were flying to China, he talks about the prospects for his investment in that country and why the Chinese people should be petitioning to get one particular Berkshire Hathaway product.
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