Low interest rates and write downs are expected to lead to another messy quarter for Canada’s insurers, but recent stock market strength means the profit picture should be brighter than last quarter’s weak results. And, with expectations modest for the …
Insurer American International Group will get up to $22 billion more in U.S. taxpayer funds in a restructuring that will pay off the Federal Reserve in full and allow taxpayers to begin profiting from the firm’s bailout, the Treasury Department …
State Auto Financial Corp., headquartered in Columbus, Ohio, reported third quarter 2010 net income of $0.2 million, or $0.00 per diluted share, versus net income of $13.0 million, or $0.33 per diluted share, for the third quarter of 2009. Net …
Bailed-out insurer AIG raised $27.71 billion cash in 10 days with the initial public offering of its Asian life business AIA and the sale of its global life unit Alico, enough to repay a credit facility from the Federal Reserve …
CNA Financial Corp. announced third quarter 2010 results, which included a net operating loss of $158 million, and net loss of $140 million. The third quarter 2010 results included an after-tax net loss of $365 million related to the previously …
Cincinnati Financial Corp. reported $156 million, or 95 cents per share, of net income for the third quarter of 2010 compared with a net income of $171 million, or $1.05 per share, in the third quarter of 2009. The company’s …
AIA Group Ltd surged 17 percent in its Hong Kong debut on Friday as investors, chasing exposure to Asia’s fast-growing life insurance business, piled into the record offering in the world’s hottest IPO market. The stronger-than-expected listing will be a …
Allstate Corp. on Wednesday reported that quarterly operating income fell 16 percent, missing analysts’ forecasts, as the largest publicly traded U.S. home and auto insurer lost existing customers and ramped up spending to try to attract new ones. Allstate’s chief …
German insurer Allianz has tapped Britain’s largest private pension fund and one that invests the pensions of Canada’s Mounties to make a joint bid for Britain’s sole high-speed railway, sources said. Final bids were due on Friday for the 186-mph …
Global regulators called on national authorities on Wednesday to curb the role of credit rating agencies in the financial system, challenging the value of an industry widely criticized in recent years. The Financial Stability Board (FSB) issued recommendations calling for …
