Insurance Property and Casualty Insurance

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  • Jan 22- American International Group Inc has decided to pursue a spin-off of its mortgage insurance business, according to people familiar with the matter, in a move that would come as the U.S. insurer fends off activist Carl Icahn. The company is also expected to update investors on the sale of its Advisor Group division on Tuesday, as well as other initiatives...

  • Insurer Travelers Cos profit falls 16.6 pct Thursday, 21 Jan 2016 | 7:01 AM ET

    Jan 21- Property and casualty insurer Travelers Cos Inc, reported a 16.6 percent fall in quarterly net profit as its net investment income was hurt due to low interest rates and a slump in oil prices. The company's net income fell to $866 million, or $2.83 per share, in the fourth quarter ended Dec. 31 from $1.04 billion, or $3.11 per share, a year earlier.

  • CapitaLand: We're realistic players in a long game Monday, 4 Jan 2016 | 7:18 PM ET
    CapitaLand: We're realistic players in a long game

    Arthur Lang, CFO at CapitaLand, says even though China's short-term outlook is worrying, he is optimistic about the long-term underlying fundamentals.

  • *FTSEurofirst 300 up 0.9 pct, FTSE 100 up 0.4 pct. *FTSE underperforms due to weaker mining stocks. Deutsche Bank rose 1.6 percent following its move to sell its 20 percent stake in China's Hua Xia Bank to insurer PICC Property and Casualty Co for up to 25.7 billion yuan.

  • Australia's largest landowner could be sold via crowdfunding

    Arthur Naoumidis, CEO at Domacom, says after the sale of S. Kidman and Co to Chinese investors was blocked, he saw the opportunity for the general public to buy Australia's largest landowner.

  • Should investors jump into Hong Kong equities? Monday, 21 Dec 2015 | 8:35 PM ET
    Should investors jump into Hong Kong equities?

    For medium to long-term investments, Hong Kong equities are attractive because of lower valuations, but in the short term it is difficult to tell if H-shares have bottomed, explains Paul Pong, MD at Pegasus Fund Managers.

  • SAN JUAN/ NEW YORK, Dec 18- Puerto Rico's debt-laden power utility, PREPA, has a tentative agreement with its bond insurers on a restructuring of its debt, according to two sources familiar with negotiations, but the deal is not official and still needs approval by PREPA's board. A spokesman for PREPA and a spokeswoman for Puerto Rico's government development bank...

  • Home insurer Allstate's drone project takes flight Thursday, 17 Dec 2015 | 6:14 PM ET

    Dec 17- Home and auto insurer Allstate Corp said on Thursday it has been testing drone flights to assess property claims. The company, which has been working with EagleView Technologies to test these drones, said that "drone flights are seen as possible improvements to claims efficiency for Allstate, especially after a catastrophe." The consortium also plans to...

  • Dec 14- Economical Insurance's mutual policyholders voted on Monday to allow the Canadian property and casualty insurance firm to demutualize. Economical Insurance in February welcomed rules released by the government of Canada that paved a path for it to potentially seek a public listing or a sale. Economical said it would prepare and mail a formal notice...

  • Asians and Russians who actively bought property in London's wealthiest areas have deserted the market, the Financial Times reports.

  • Beware of Hong Kong's property bubble! Tuesday, 10 Nov 2015 | 5:49 PM ET
    Beware of Hong Kong's property bubble!

    Signs of affordability, price-earnings ratios and tenant buying behavior all suggest Hong Kong's property market is still a bubble, warns Daniel So, strategist at CMB International Securities.

  • Oct 29- American International Group Inc directors are discussing a spinoff or sale of the company's small mortgage-insurance business as it faces new pressure from shareholders to break itself apart, the Wall Street Journal reported, citing people familiar with the matter. Billionaire investor Carl Icahn published a letter on Wednesday advising CEO...

  • Tax hike may rattle British motor, home insurers Thursday, 29 Oct 2015 | 8:11 AM ET

    LONDON, Oct 29- A tax hike on British motor and home insurance policies effective from Sunday is set to hit consumers and could trigger a fresh round of margin-squeezing price competition among general insurers. "These increases will not translate into margin expansion and may even make it difficult for insurers to push further... rate rises through," analysts at...

  • SAN JUAN, Oct 28- Insurers of Puerto Rico Electric Power Authority bonds on Wednesday delivered terms for a debt restructuring to the utility, moving it a step closer to an accord with its last key creditor class, a person with direct knowledge of the matter told Reuters. A spokeswoman for PREPA and its chief restructuring officer, Lisa Donahue, declined to comment.

  • SAN JUAN, Oct 28- Insurers of Puerto Rico Electric Power Authority bonds on Wednesday delivered terms for a debt restructuring to the utility, a person with direct knowledge of the matter told Reuters. PREPA, facing more than $8 billion in debt, reached deals in September with bondholders and lenders, who accepted 15 percent payment reductions in exchange for new...

  • NEW YORK, Oct 27- When some 120 million employees start filling out their open enrollment choices this fall, they will be presented with the usual health, dental and vision options. "Some of those policies are going to be a perfect fit and valuable, and other things are not going to be useful," says Jennifer Benz, who runs her own benefits firm based in San Francisco.

  • Oct 20- Property and casualty insurer Travelers Cos Inc reported a better-than-expected quarterly profit, helped by higher underwriting gains. Travelers, which competes with American International Group Inc for the title of the biggest U.S. commercial property and casualty insurer, said underwriting gains rose about 35 percent to $759 million in the third...

  • CNBC Explains: Why Americans lack flood insurance Tuesday, 6 Oct 2015 | 12:15 PM ET
    A vehicle and a home are swamped with floodwater from nearby Black Creek in Florence, South Carolina, Monday, Oct. 5, 2015.

    CNBC explains why there is a large gap between the number of households and amount of flood insurance policies in high-risk areas.

  • Historic flooding hits South Carolina Tuesday, 6 Oct 2015 | 10:00 AM ET
    Historic flooding hits South Carolina

    South Carolina's economic losses from the historic and deadly flooding will easily top $1 billion, experts say, but the looming issue for the state and federal government is that most of it will be uninsured.

  • US housing to remain on recovery road? Tuesday, 29 Sep 2015 | 5:40 AM ET
    US housing to remain on recovery road?

    Hessam Nadji, chief strategy officer at Marcus & Millichap, discusses what he expects from the Case-Shiller Home Price Index, out Tuesday.