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Property and Casualty Insurance

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  • *Allianz forecasts asset management earnings to fall. FRANKFURT, March 14- Management turmoil at Allianz asset manager Pimco is unlikely to threaten the credit standing of Europe's largest insurer, credit rating agency Fitch said on Friday.

  • Why your flood insurance may not rise so fast Wednesday, 5 Mar 2014 | 7:35 AM ET
    Floods swamp a house near the town of Hygiene, Colo.

    The bill would limit annual increases of any individual policy under the National Flood Insurance Program to 18 percent.

  • No climate change impact on insurance biz: Buffett Monday, 3 Mar 2014 | 10:00 AM ET

    The effects of climate change, "if any," have not affected the insurance market, Warren Buffett told CNBC—adding he's not calculating catastrophe probabilities differently.

  • FLAHERTY SAYS KEEPING CLOSE EYE ON HOUSING AGENCY CMHC'S MORTGAGE INSURANCE BUSINESS.

  • AIG cuts workforce by 3% after earnings beat Thursday, 13 Feb 2014 | 4:01 PM ET
    A man walks into the American International Group Inc. offices in New York, U.S., on Tuesday, Oct. 29, 2013.

    American International Group posted earnings excluding items of $1.15 per share on revenue of $8.62 billion, beating Wall Street estimates.

  • Flood insurance battle reaching high-water mark Friday, 7 Feb 2014 | 1:57 PM ET
    Flood damage in Salina, Colo., in 2013

    A law that was designed to curb deficits in the national flood insurance program is now the target of repeals.

  • Feb 5- Allstate Corp aims to grow its share of the U.S. home and auto insurance markets without the need for "abnormally large" rate increases, its CEO said, after the company's profit more than doubled in the fourth quarter. Shares of Allstate, the largest publicly traded home and auto insurer in the United States, rose 2 percent after the bell on Wednesday.

  • UPDATE 2-Canada ice storm slams Intact Financial profit Wednesday, 5 Feb 2014 | 10:56 AM ET

    *Q4 operating profit C $1.05 per share vs est C $1.26. TORONTO, Feb 5- Intact Financial Corp, Canada's largest property and casualty insurer, reported a larger-than-expected drop in fourth-quarter profit as a winter ice storm hurt underwriting results.

  • UPDATE 1-Canada ice storm hits Intact Financial profit Wednesday, 5 Feb 2014 | 8:04 AM ET

    *Fourth-quarter operating profit C $1.05 per share vs est C $1.26. Feb 5- Intact Financial Corp, Canada's largest property and casualty insurer, reported a 40 percent drop in fourth-quarter profit, hurt by severe winter weather.

  • Feb 5- Radian Group Inc, the biggest U.S. private mortgage insurer, reported a quarterly profit after four straight losses as fewer homeowners defaulted on their loans in a recovering housing market.

  • Intact Financial profit falls 40 pct Wednesday, 5 Feb 2014 | 7:07 AM ET

    Feb 5- Intact Financial Corp, Canada's largest property and casualty insurer, reported a 40 percent drop in fourth-quarter profit, hurt mainly by severe winter weather, but raised its dividend. Toronto- based Intact said net income fell to C $107 million, or 77 Canadian cents per share, in the quarter ended Dec. 31, from C $177 million, or C $1.29 per share, a year earlier.

  • Feb 4- Life and mortgage insurer Genworth Financial Inc reported a better-than-expected quarterly profit as a recovery in housing markets helped its U.S. mortgage insurance business. Shares of Genworth, which was spun off from industrial conglomerate General Electric Co ten years ago, rose more than 4 percent in extended trading.

  • Jan 30- Property and casualty insurer Chubb Corp reported a better-than-expected quarterly profit as its claims fell 30 percent and announced a $1.5 billion share buyback. Chubb's net profit rose more than five-fold to $569 million, or $2.24 per share, in the fourth quarter ended Dec. 31, from $102 million, or 38 cents per share, a year earlier.

  • On a vote of 67-32, the Democratic-led Senate brushed aside earlier White House concerns and sent the measure to the Republican-led House of Representatives for consideration. "This is how the Senate is suppose to work," said Senator Charles Schumer of New York, a member of Democratic leadership. The White House echoed those concerns in a statement on Monday.

  • Chubb profit jumps five-fold as claims fall Thursday, 30 Jan 2014 | 4:22 PM ET

    Jan 30- Property and casualty insurer Chubb Corp reported a more than five-fold rise in quarterly profit as the company paid lower claims. The company's net income rose to $569 million, or $2.24 per share, in the fourth quarter ended Dec. 31, from $102 million, or 38 cents per share, a year earlier. Net earned premium rose 4 percent to $3.04 billion.

  • WASHINGTON, Jan 29- The U.S. consumer financial watchdog said on Wednesday it was seeking fines against PHH Corp and repayment to consumers over allegations that the mortgage lender steered borrowers to insurers from which it took kickbacks.

  • WASHINGTON, Jan 27- A bipartisan bill to delay dramatic increases in federal flood insurance premiums for millions of American homeowners and small businesses cleared a Republican procedural roadblock in the U.S. Senate on Monday.

  • LONDON, Jan 27- In the event of a mass-casualty accident involving the derailment of a crude-carrying train in a densely populated urban area, who would be responsible for the compensation for deaths, injuries, damage to property and environmental clean up?

  • *Zurich could convert surety bond to loan- source. PANAMA CITY/ MADRID, Jan 22- The Panama Canal Authority, a Spanish-led consortium and insurer Zurich have come up with a possible financing deal to resolve the dispute threatening a project to expand one of the world's most important shipping routes.

  • The move by Fairfax, the Canadian property and casualty insurer run by investment guru Prem Watsa, will double the company's holdings of BlackBerry's debt. Fairfax also owns a more than 14 percent equity stake in BlackBerry, making it the company's largest shareholder.

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