MIAMI— Federal officials have capped the amount of money scofflaws will be forced to pay if they don't buy insurance this year at $2,448 per person and $12,240 for a family of five. The penalty for the first year starts at $95 per adult or $47.50 per child under 18, and it can rise to as much as 1 percent of annual household income.» Read More
Shares in the world’s largest utility E.ON increased considerably after it gave up its 42 billion euro bid ($56 billion) for Spanish utility company Endesa (down 0.69%), agreeing to split it up with rivals.
Britain's Resolution beat market forecasts on Tuesday with an 18% rise in its embedded value at the end of 2006 and said it planned to boost its 2007 dividend, but would continue to look for acquisitions.
Cap Gemini’s shares increased 2.37% in Paris trade Friday after Exane BNP Paribas upgraded the IT group from ‘neutral’ to ‘outperform’, citing the company’s strong growth prospects based on its business mix, cost control and use of off-shoring.
The Lloyd's of London insurance market said on Thursday that it made a pretax profit of 3.7 billion pounds ($7.27 billion) in 2006, thanks to high prices and low catastrophe claims.
As Americans approach their golden years, many claim they have yet to see a dime from their health insurance providers. In fact, many say they’ve only received excuses about why insurers won’t pay up. The question may be why.
AXA, France's largest insurer, said Friday it agreed to buy half of Banca Monte dei Paschi di Siena's insurance and pensions unit for 1.15 billion euros ($1.54 billion) in cash.
Insurer Standard Life beat market forecasts on Thursday with a 55% rise in 2006 profit and said it planned a shake-up of its core U.K. business, including 1,000 job cuts to squeeze out more costs by 2009.
If you can believe it, we're just almost done with the first quarter of 2007 and that means two things: the cherry blossoms are coming out and it's time to hunker down for some spring cleaning. As you tackle the clutter in your home, why not clean up your finances as well? This is a great opportunity to start planning for a solid financial future. You've just paid off your taxes (or are about to) and you're well entrenched in your job plans for the year. Don't let that momentum slip. Here are my financial rules for 2007 to help you tackle your finances and start the rest of the year on the right foot.
Here some of Tuesday's big movers on European stock markets:Whitbread, Storebrand, Iberia, ABN Amro, Barclays, Friends Provident, Technical Olympic and Deutsche Post.
British insurer Friends Provident's headline profits slipped 3% in 2006 as lower earnings from its asset management arm offset strong volumes and a jump in new business profits.
State Farm Fire & Casualty Co. has agreed to re-examine more than 35,000 policyholder claims filed following Hurricane Katrina and to 'make millions of dollars available' for additional payments, Mississippi Insurance Commissioner George Dale said Monday.
Henry McVey was "not really" surprised by the Feb. 27 market meltdown. But then, the chief U.S. investment strategist for Morgan Stanley says he'd seen the omens in January. He joined CNBC's Maria Bartiromo to discuss what might come next -- and how he's preparing for it.
Swiss reinsurer Converium is looking for rival bidders to fend off Scor's hostile takeover attempt but has not yet received any firm offers, the company said on Friday.
Lloyd's of London insurer Beazley Goup made record pretax profit in 2006, helped by low catastrophe claims and good investment returns, it said on Wednesday.
Swiss Re said General Electric would divest its stake worth around 3.5 billion Swiss francs ($2.9 billion), selling half to Swiss Re and placing the other half in the market.
UK life insurer Standard Life said on Thursday that Gerry Grimstone has been appointed as chairman-elect to take over from Brian Stewart.
Swiss reinsurer Converium Holding sought shareholder support Wednesday to fend off a takeover bid by French competitor Scor, promising higher future profits and a share buyback should the company remain independent.
Reinsurer Munich Re on Wednesday said its fourth-quarter profit dropped by 52% because of a dip in its net investment income.
In 2002, the U.S. government enacted the Terrorism Risk Insurance Act, creating a Federal backup for insurers in the wake of the Sept. 11, 2001 attacks. TRIA expires at year's end. "Power Lunch" guests debated whether it's still a valuable instrument -- or has degenerated into "corporate welfare."
Scor, the French reinsurance company, launched a hostile bid for the remaining shares in Converium Monday, Scor’s Zurich-based rival, but investors held out for more than the $2 billion on offer, Reuters reported. The proposed merger would create one of the world's top five reinsurers.
Get the best of CNBC in your inbox