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.» Read More
HONG KONG, Jan 8- Hong Kong shares closed at their lowest in a week on Tuesday, as investors took profit on mainland property counters after an official media report raised fears of more stringent enforcement of sector curbs, stalling its strong gains in recent months. The China Enterprises Index of the top Chinese listings in Hong Kong fell 2.2 percent.
Christmas gifts like trampolines, treehouse kits and certain breeds of puppies will please the kids, but cause homeowner's insurance agents to cringe.
For now, insurance companies will continue to increase their cash reserves and invest some of that money into stock buybacks, dividend increases and acquisitions. That will keep it one of the most sought-after sectors by investors. TheStreet.com reports.
Best, the major rater of insurance companies, raised its estimated losses by $10 billion, saying that property and casualty insurers are incurring about $2 billion in losses each year while paying out $2.5 billion.
*Shares price at $32.50 apiece, for total proceeds of $7.6 bln. By Rick Rothacker and Jochelle Mendonca. Treasury's sale of its remaining stake in American International Group Inc will leave taxpayers with a profit of nearly $23 billion- more than the next three most successful bailouts combined.
*Shares price at $32.50 apiece, for total proceeds of $7.6 bln. Treasury's sale of its remaining stake in American International Group Inc will fetch $7.6 billion, bringing the government a total profit of $22.7 billion from its bailout of the insurer in the financial crisis four years ago.
Scott Russell, Head of Insurance Research, Asia, Macquarie says the Chinese property & casualty space is performing better than life insurance. He is positive on PICC's debut in Hong Kong, but prefers its subsidiary PICC P&C.
Neither Democrats nor Republicans are creating a win-win for the other in the "fiscal cliff" negotiations and the real deadline was months ago, Allstate CEO Thomas Wilson told CNBC's "Closing Bell" on Tuesday.
Allstate Chairman, President & CEO Thomas Wilson, discusses his take on the fiscal cliff negotiations, and the $1.1 billion costs his company faces after Hurricane Sandy.
Home owners in Sandy's path face an unpleasant reality: property damage caused by flooding is unlikely to be covered by insurance.
Travelers Cos. posted record operating profit in the third quarter, as prices rose and losses from natural disasters fell sharply, the property insurance company said on Thursday.
Analysts say the rally in insurers is not out of gas, reports CNBC's CNBC's Mary Thompson. In fact, many of them are pushing through modest rate increases.
CNBC's Mary Thompson reports on the near $2 billion of insured damages the unseasonable tornado outbreak has caused across the Midwest.
It's been a stormy year for U.S. property insurers, and hurricane season hasn't even started yet. But shares of these companies could be jumping if a bad year in weather prompts premium increases.
Six years and four CEOs later, American International Group again faces the question of who will run the firm.
The Japan situation offers a new “calibration point” for insurers and the world, Glenn Renwick, CEO of insurance company Progressive, told CNBC Wednesday.
The March 2011 earthquake off the coast of Japan has rocked international markets as the world tries to gauge the reality of the human and economic devastation in the country.
Insurance provider Aflac announced today that it had fired comedian Gilbert Gottfried, after he lampooned Japan earthquake and tsunami victims on Twitter.