NEW ORLEANS-- Louisiana's Department of Insurance has joined a lawsuit filed by Mississippi against the federal government to try to block rates from increasing Oct. 1 in the National Flood Insurance Program. Commissioner Jim Donelon said Wednesday that the department had filed an "amicus curiae, or friend of the court" brief in Mississippi's lawsuit.» Read More
Oct 31- American International Group Inc reported a better-than-expected third-quarter operating profit, helped by strong growth in its property and casualty business. The U.S. insurer's net income rose 17 percent to $2.17 billion, or $1.46 per share, from $1.86 billion, or $1.13 per share, a year earlier.
*Catastrophe losses fall 37 percent to $128 million. Oct 30- Allstate Corp, the largest publicly traded home and auto insurer in the United States, reported a higher-than-expected quarterly operating profit as fewer natural disasters helped it earn more premiums.
Oct 29- Life and mortgage insurer Genworth Financial Inc reported its eighth straight quarterly profit as losses narrowed in its U.S. mortgage insurance business due to a recovering housing market.
Oct 29- Life and mortgage insurer Genworth Financial Inc's third-quarter profit rose three-folds as losses narrowed in its U.S. mortgage insurance business. Net profit rose to $108 million, or 22 cents per share, for the third quarter ended Sept. 30, from $35 million, or 7 cents per share, a year earlier.
Oct 24- Property and casualty insurer Chubb Corp raised its earnings forecast for the full year after reporting a better-than-expected rise in quarterly profit, underpinned by higher rates and strong underwriting across all its businesses. Chubb raised its earnings forecast to $7.90- $8.00 per share from $7.30- $7.50.
The average rate hike for a family filing a homeowners claim is about 9 percent, or $150 a year, according to a new study.
CALGARY, Alberta, Sept 23- The massive floods that devastated swaths of southern Alberta in June are estimated to be the costliest natural disaster in Canadian history, with the Insurance Bureau of Canada pegging the property damage at C $1.7 billion.
With billionaire John Paulson snapping up their shares, Radian Group Inc and MGIC Investment Corp are at the forefront of a recovery that is wiping out losses sustained when the housing bubble burst five years ago. "These companies are writing highly profitable new business," said Charles Murphy, partner at hedge fund Paulson& Co..
TOKYO, Aug 19- The United States urged Japan on Monday to open its auto and insurance markets more to foreign companies as the two countries pursue bilateral talks linked to a broader free-trade agreement that covers two-fifths of the globe. The United States hopes to make a proposal to Japan on its trade barriers in September, U.S.
Aug 1- American International Group Inc announced its first capital return since its 2008 bailout, through a dividend and share buyback, sending its shares up 6 percent after the bell.
*2nd- quarter operating earnings $1.12/ share. Aug 1- American International Group Inc announced its first capital return since its 2008 bailout, through a dividend and share buyback, sending its shares up 6 percent after the bell.
*Second-quarter operating earnings per share $2.13 vs est $1.60. July 23- Travelers Cos Inc said it would cut jobs and reduce prices of auto insurance, steps investors took as an indication that rates had risen too far and competition was increasing.
WASHINGTON, July 22- Several large U.S. auto insurance companies use education levels and occupation to set rates, effectively pricing some low- and moderate-income earners out of the market, according to a report by the Consumer Federation of America.
TORONTO, July 22- Property and casualty insurer Intact Financial said it expected quarterly results would be hurt by losses from a train derailment and fiery explosion in a Quebec town and storm and flood damage in Canada's oil capital, Calgary, and Toronto, the country's largest city.
LONDON, July 18- Top insurers will have to hold more capital from 2019 to cover risks they pose to the financial system should they go bust, global regulators said on Thursday. Regulators also released an initial list of nine insurers, including AIG and Allianz SE, that have been deemed globally significant and will likely have to meet those new requirements.
*Twin approach to higher capital requirements by 2019. LONDON, July 18- Top insurers will have to hold more capital from 2019 to cover risks they pose to the financial system should they go bust, global regulators said on Thursday.
With a forecast for an "active" hurricane season, you may want to call to your insurance agent to make sure you're covered.
Once the dust settles and the victims have been accounted for, Moore, Okla., will begin the gargantuan task of rebuilding itself. It's a task that will take billions of dollars in federal and state aid, insurance claims and charitable donations, the CSM reports.
Michael Klibaner, Regional Director, Head of Research, Greater China at Jones Lang LaSalle says transaction volumes in China's property market peaked in March and will therefore slow in Q2.
Auto insurance rates vary according to how many drivers are on the road, how safe they are, even who decides lawsuits.