Tuesday, November 11, 2008
Steven Wevodau - We're Trying to Help the Uninsured and Doctors, Too - Wall Street Journal
The basic premise of Frederic Jarrett's Oct. 25 op-ed, " Pennsylvania Is Driving Its Doctors Away ," is flat out wrong. Dr. Jarrett writes: Gov. Ed "Rendell wants his health-care program to be funded by the premiums doctors paid into Mcare." The
Insurance giants losing ground - Economic Times
CHENNAI: With new kids on the block breathing down their neck, insurance giants are increasingly finding it tough. A look at the market share shows that Life Insurance Corporation, ICICI Prudential and Bajaj Allianz have lost significantly. Numbers
Oil and gas insurance risk exposure now $101bn - Punch
The Group Managing Director, Nigeria National Petroleum Corporation, Mr. Abubakar Yar’Adua, has said that oil and gas related risks exposure in the country was now about $101.14bn out of which $33bn or 33 per cent, was retained in Nigeria. He also
Monday, November 10, 2008
Steven Wevodau - Gov't provides $150 billion aid package to insurance giant AIG - Minneapolis Star Tribune
WASHINGTON - In a record bailout of a private company, the government on Monday provided a new $150 billion financial-rescue package to troubled insurance giant American International Group, including $40 billion for partial ownership. The action
U.S. Provides New Aid to AIG - The Ledger
WASHINGTON | The government Monday provided new financial assistance to troubled insurance giant American International Group, including pouring $40 billion into the company in return for partial ownership. The action, announced jointly by the
Universal Insurance Holdings, Inc. Reports Third-Quarter and First - MSN MoneyCentral
Universal Insurance Holdings, Inc. ("the Company") (NYSE Alternext U.S.: UVE) (AMEX: UVE), a vertically integrated insurance holding company, announced third-quarter net income of $7.4 million, or $0.19 per diluted share, compared to $13.8 million
AIG's $173 Billion 'New Deal' With America - Street.Com
The new restructuring, the third such plan, is the next-to-last step on the road to recovery, according to Liddy, giving AIG the flexibility needed to be better positioned to execute the company's divestiture program. Confirming that AIG is not
Sector Snap: Insurers down on AIG bailout, 3Q loss - Forbes
Shares of some of the nation's biggest insurance companies fluctuated Monday as American International Group Inc., once the world's largest insurer before being hit hard by the meltdown in the credit markets, said continued financial market turmoil
Embrace Pet Insurance Secures Over $2 Million in First Institutional - Earthtimes
MAYFIELD VILLAGE, Ohio , Nov. 10 /PRNewswire/ -- Embrace Pet Insurance, ( www.embracepetinsurance.com ), a leading provider of pet health insurance in the U.S., announced the completion of its first institutional investment round of $2.1 million
Rising health costs drive Americans to seek medical treatment overseas - Xinhua News Agency
LOS ANGELES, Nov. 10 (Xinhua) -- Rising health costs and dwindling insurance coverage are driving hundreds of thousands of Americans to travel far to seek crucial treatment overseas in order to avoid potentially devastating medical bills, a newspaper
US expands record bailout of insurance giant AIG - Raw Story
The US government announced Monday an expanded bailout for insurance giant AIG, in excess of 150 billion dollars, as it tapped into emergency funds originally set for banks. The latest bailout plan, the largest in US history, came as AIG burned
Steven Wevodau - Sector Snap: Insurers down on AIG bailout, 3Q loss - Forbes
MAYFIELD VILLAGE, Ohio , Nov. 10 /PRNewswire/ -- Embrace Pet Insurance, ( www.embracepetinsurance.com ), a leading provider of pet health insurance in the U.S., announced the completion of its first institutional investment round of $2.1 million Steven Wevodau
Universal Insurance Holdings, Inc. ("the Company") (NYSE Alternext U.S.: UVE) (AMEX: UVE), a vertically integrated insurance holding company, announced third-quarter net income of $7.4 million, or $0.19 per diluted share, compared to $13.8 million Steven Wevodau
NEW YORK (CNNMoney.com) -- Troubled insurer American International Group got a reworked $152.5 billion deal from the federal government Monday, as the Federal Reserve and Treasury Department made significant changes to the terms of the company's Steven Wevodau
OLDWICK, N.J. - (Business Wire) A.M. Best Co. has placed the financial strength rating of B++ (Good) and issuer credit rating of “ bbb+ ” of The Exchange Insurance Company Limited (Exchange) under review with negative implications. The ratings Steven Wevodau
WASHINGTON - In a record bailout of a private company, the government on Monday provided a new $150 billion financial-rescue package to troubled insurance giant American International Group, including $40 billion for partial ownership. The action Steven Wevodau
LOS ANGELES, Nov. 10 (Xinhua) -- Rising health costs and dwindling insurance coverage are driving hundreds of thousands of Americans to travel far to seek crucial treatment overseas in order to avoid potentially devastating medical bills, a newspaper Steven Wevodau
WASHINGTON | The government Monday provided new financial assistance to troubled insurance giant American International Group, including pouring $40 billion into the company in return for partial ownership. The action, announced jointly by the Steven Wevodau
Sunday, November 9, 2008
Steven Wevodau - Alliant Insurance Services Announces Expansion of its Corporate Risk - PR Inside
A series of community meetings are being held this week to educate Natomas residents about upcoming flood insurance requirements. The meetings are 6 to 8:30 p.m. Wednesday at the South Natomas Community Center, 2921 Truxel Road, Sacramento and 6 to 7 Steven Wevodau
Saturday, November 8, 2008
Steven Wevodau - Max Specialty Insurance Company Adds New Hampshire, is now an Eligible - PR Inside
Until now shrinking the stomach for weight loss was done through lengthy and risky surgery, but a new procedure can do it in under an hour with no cutting. When 30-year-old Belinda Guevara's weight peaked at 217 pounds she decided to take action Steven Wevodau
The story of America has been a journey toward being a fairer and more just nation. We have encountered many barriers along the way, and at times we have stumbled. But again and again, we have come together to surmount the obstacles in our path and Steven Wevodau
WASHINGTON - Regulators shut down Houston-based Franklin Bank and Security Pacific Bank in Los Angeles on Friday, bringing the number of failures of federally insured banks this year to 19. The Federal Deposit Insurance Corp. was appointed receiver Steven Wevodau
Unexpected illness causes 350,000 personal bankruptcies per year. Through 2007, disability caused nearly half of all mortgage foreclosures. Two-thirds of Americans live paycheck-to-paycheck. Despite the above statistics, most families are woefully Steven Wevodau
NEW YORK (CNNMoney.com) -- The tally of failed banks in 2008 rose to 19 as the government announced that a Texas and a California bank had been shuttered Friday night. Franklin Bank, a Houston, Texas-based bank and Security Pacific Bank, a Los Steven Wevodau
- Although the U.S. life insurance industry is not as deeply impacted by the current economic crisis as other segments of the financial services industry, the interconnectedness of banks, asset managers, brokerage firms, and insurers themselves means Steven Wevodau
Steven Wevodau - Regulators shut banks in Texas, California - FOX News
Nov. 8 (Bloomberg) -- Billionaire Warren Buffett 's Berkshire Hathaway Inc. posted a fourth straight profit drop, the longest streak of quarterly declines in more than a decade, as hurricanes hurt returns at insurance operations and investments lost Steven Wevodau
WASHINGTON — Two insurance companies have said they will not participate in the government's rescue program to directly invest billions in financial companies. Some insurers likely would be eligible under the Treasury Department's expanding plan or Steven Wevodau
NEW YORK (CNNMoney.com) -- The tally of failed banks in 2008 rose to 19 as the government announced that a Texas and a California bank had been shuttered Friday night. Franklin Bank, a Houston, Texas-based bank and Security Pacific Bank, a Los Steven Wevodau
NEW YORK, Nov 7 (Reuters) - Warren Buffett's Berkshire Hathaway Inc said on Friday third-quarter profit fell 77 percent, the fourth straight quarterly decline, hurt by weaker results from insurance underwriting and a big loss on derivatives contracts Steven Wevodau
Friday, November 7, 2008
Steven Wevodau - NipponKoa Insurance-6-month parent - Forbes
Copyright Thomson Reuters 2008. All rights reserved. The copying, republication or redistribution of Reuters News Content, including by framing or similar means, is expressly prohibited without the prior written consent of Thomson Reuters. Neither
Delphi Financial Declares Regular $0.10 Per Share Cash Dividend - MSN MoneyCentral
Delphi Financial Group, Inc. DFG announced today that its Board of Directors declared a regular quarterly cash dividend of $0.10 per share on the Company ’ s common stock, payable on December 4, 2008 to shareholders of record at the close of
Insurance agency opens Fishkill branch - Poughkeepsie Journal
Rose & Kiernan Inc., headquartered in Albany County, recently opened a branch at 60 Merritt Blvd., Fishkill. This office consolidated two offices that have been in Beacon and the Town of Poughkeepsie. Staff relocated to Fishkill and will serve
Fidelity National Financial, Inc. and LandAmerica Financial Group, Inc - MSN MoneyCentral
JACKSONVILLE, Fla. and RICHMOND, Va. , Nov. 7 /PRNewswire-FirstCall/ -- Fidelity National Financial, Inc. FNF and LandAmerica Financial Group, Inc. LFG today announced the signing of a definitive merger agreement under which FNF will acquire LFG
Shipowners Idle 20% of Bulk Vessels as Rates Collapse (Update1) - Bloomberg
Nov. 7 (Bloomberg) -- At least 20 percent of the vessels most commonly hired to haul coal and ore are sitting empty as steelmakers cut output and dwindling trade credit halts deliveries, Lorentzen & Stemoco A/S shipbroker Kjetil Sjuve said. Fifty to
Colin Ward appointed as Business Development Manager for William - Zawya.com
Dubai Insurance Company Dubai Insurance Company has continued to develop its partnership with international insurance specialist William Russell in the Middle East by appointing Colin Ward as Business Development Manager for the William Russell plans
States face unemployment cash crisis - CNN Money
NEW YORK (CNNMoney.com) -- State unemployment insurance trust funds are rapidly running out of money amid soaring job losses. This is prompting state officials to consider raising employer taxes or curtailing benefits, while forcing them to borrow
Car Impounded After Dog Drives Away From Car Wash - FOX News
PRYOR, Okla. — A dog waiting in a car while at a car wash slipped the vehicle into gear and drove in a loop before the car came to a stop. Pryor police officer Brent Crittenden said the dog's owner was washing the vehicle when the 70-pound pit bull
Steven Wevodau - Taxpayers on Hook for Mortgage Executives' Legal Defense Costs
When the U.S. government took over mortgage giants Fannie Mae and Freddie Mac, taxpayers inherited more than just bad debts. They're also potentially on the hook for tens of millions of dollars in leg
University of Iowa to Restore Art Facility
Despite the risk that the Iowa River could overflow its banks again, the University of Iowa says it will restore a flood-damaged art building. Officials say that's because the need for space outwe
Munich Re Q3 Profits Down 99% to $15.4 Million; $1.8 Billion for 9 Months
Munich Re's third quarter profits fell by 99 percent to €12 million ($15.4 million) compared to the €1.216 billion ($1.555 billion) it recorded in the third quarter of 2007. The Group's ne
Steven Wevodau - Munich Re Q3 Profits Down 99% to $15.4 Million; $1.8 Billion for 9 Months
Steven Wevodau - Ford posts $3 billion loss, Toyota shares dive (Reuters)
Reuters - Ford Motor Co posted a $2.98 billion quarterly operating loss and shares in world No. 1 automaker Toyota Motor Corp (7203.T) plunged on Friday after it warned this year's profits would hit a 13-year low.
Steven Wevodau
Reuters - Shares of American International Group advanced 9.6 percent to $2.05 in premarket trade after the Wall Street Journal said federal officials were considering a possible change in the terms of an $85 billion loan to the troubled insurer.
Steven Wevodau
AP - Reinsurer Munich Re AG said Friday that it barely eked out a profit in the third quarter as its investments were hurt by falling stock markets, forcing the company to abandon its full-year earnings forecast for the second time this year. Steven Wevodau
Reuters - Stock index futures rose on Friday as a slide of the past two sessions prompted investors to scour the market for beaten-down shares, but trading was cautious before the government's report on October non-farm payrolls.
Steven Wevodau
Reuters - Chrysler LLC is rapidly burning through cash and being driven to prepare for a possible break-up if it can't clinch a merger with General Motors Corp or get government funding needed to ride out the economic crisis, people with knowledge of the situation said.
Steven Wevodau
Reuters - Sprint Nextel Corp , the No. 3 U.S. mobile service, on Friday posted a third-quarter loss and a 12 percent drop in revenue as customers fled to rival services.
Steven Wevodau
Steven Wevodau - Media Advisory - Insurance Bureau of Canada teams up with Operation - CNW Group
London equities moved higher on Friday, with hopes that the Bank of England’s dramatic rate cut could help stave off the worst effects of recession. The FTSE 100 rose 89 points or 2.1 per cent to 4,361.35, helped by rises for financial and Steven Wevodau
NEW YORK (CNNMoney.com) -- State unemployment insurance trust funds are rapidly running out of money amid soaring job losses. This is prompting state officials to consider raising employer taxes or curtailing benefits, while forcing them to borrow Steven Wevodau
Steven Wevodau - Ford posts $3 billion loss, Toyota shares dive (Reuters)
Reuters - Ford Motor Co posted a $2.98 billion quarterly operating loss and shares in world No. 1 automaker Toyota Motor Corp (7203.T) plunged on Friday after it warned this year's profits would hit a 13-year low.
AIG jumps on report of possible change in loan terms (Reuters)
Reuters - Shares of American International Group advanced 9.6 percent to $2.05 in premarket trade after the Wall Street Journal said federal officials were considering a possible change in the terms of an $85 billion loan to the troubled insurer.
Munich Re 3Q profit plummets, 2008 target dropped (AP)
AP - Reinsurer Munich Re AG said Friday that it barely eked out a profit in the third quarter as its investments were hurt by falling stock markets, forcing the company to abandon its full-year earnings forecast for the second time this year.
Stock futures bounce on bargain search; data eyed (Reuters)
Reuters - Stock index futures rose on Friday as a slide of the past two sessions prompted investors to scour the market for beaten-down shares, but trading was cautious before the government's report on October non-farm payrolls.
Steven Wevodau - Munich Re 3Q profit plummets, 2008 target dropped (AP)
AP - Reinsurer Munich Re AG said Friday that it barely eked out a profit in the third quarter as its investments were hurt by falling stock markets, forcing the company to abandon its full-year earnings forecast for the second time this year.
AIG jumps on report of possible change in loan terms (Reuters)
Reuters - Shares of American International Group advanced 9.6 percent to $2.05 in premarket trade after the Wall Street Journal said federal officials were considering a possible change in the terms of an $85 billion loan to the troubled insurer.
Ford posts $3 billion loss, Toyota shares dive (Reuters)
Reuters - Ford Motor Co posted a $2.98 billion quarterly operating loss and shares in world No. 1 automaker Toyota Motor Corp (7203.T) plunged on Friday after it warned this year's profits would hit a 13-year low.
Chrysler cash drains away as crisis deepens: sources (Reuters)
Reuters - Chrysler LLC is rapidly burning through cash and being driven to prepare for a possible break-up if it can't clinch a merger with General Motors Corp or get government funding needed to ride out the economic crisis, people with knowledge of the situation said.
Stock futures bounce on bargain search; data eyed (Reuters)
Reuters - Stock index futures rose on Friday as a slide of the past two sessions prompted investors to scour the market for beaten-down shares, but trading was cautious before the government's report on October non-farm payrolls.
Sprint posts quarterly loss, customers flee (Reuters)
Reuters - Sprint Nextel Corp , the No. 3 U.S. mobile service, on Friday posted a third-quarter loss and a 12 percent drop in revenue as customers fled to rival services.
Steven Wevodau - Fidelity National Financial, Inc. and LandAmerica Financial Group, Inc - MSN MoneyCentral
JACKSONVILLE, Fla. and RICHMOND, Va. , Nov. 7 /PRNewswire-FirstCall/ -- Fidelity National Financial, Inc. FNF and LandAmerica Financial Group, Inc. LFG today announced the signing of a definitive merger agreement under which FNF will acquire LFG
Hooper Holmes Announces Third Quarter 2008 Results - CNBC
BASKING RIDGE, N.J., Nov 07, 2008 /PRNewswire-FirstCall via COMTEX/ -- Hooper Holmes (Amex: HH) today announced financial results for the three and nine months ended September 30, 2008. For the three months ended September 30, 2008, total revenues
States face unemployment cash crisis - CNN Money
NEW YORK (CNNMoney.com) -- State unemployment insurance trust funds are rapidly running out of money amid soaring job losses. This is prompting state officials to consider raising employer taxes or curtailing benefits, while forcing them to borrow
Insurance agency opens Fishkill branch - Poughkeepsie Journal
Rose & Kiernan Inc., headquartered in Albany County, recently opened a branch at 60 Merritt Blvd., Fishkill. This office consolidated two offices that have been in Beacon and the Town of Poughkeepsie. Staff relocated to Fishkill and will serve
Media Advisory - Insurance Bureau of Canada teams up with Operation - CNW Group
HALIFAX, Nov. 7 /CNW/ - Insurance Bureau of Canada (IBC), on behalf of Canada's home, car and business insurers, is joining forces with the Operation Red Nose, to get holiday revelers -- and their vehicles -- home safely in three Nova Scotia
Penn Treaty Completes Sale of Agency Subsidiary to LTC Global - MSN MoneyCentral
ALLENTOWN, Pa. , Nov. 7 /PRNewswire-FirstCall/ -- Penn Treaty American Corporation (OTC: PTYA or PTYA.PK) today announced that on November 5 , it sold 100% of the common stock ownership in its subsidiary, United Insurance Group Agency, Inc. of
CNP Third-Quarter Revenue Falls 17% on Stock Markets (Update2) - Bloomberg
Nov. 7 (Bloomberg) -- CNP Assurances SA , France's largest life insurer, said third-quarter revenue fell 17 percent as slumping stock markets cut demand for savings products linked to equities. Sales dropped to 6.01 billion euros ($7.65 billion) from
Wednesday, November 5, 2008
Steven Wevodau - Ship Comes In for Trade Financiers - Wall Street Journal
COMMONWEALTH Bank today confirmed it had an exposure to Allco Finance Group of about $170 million. Voluntary administrators and receivers were appointed to to Allco Finance on Tuesday. Yesterday, Westpac confirmed it had an exposure to Allco Finance Steven Wevodau
TRUJILLO, Peru, Nov 5 (Reuters) - The International Monetary Fund could be a watchdog for regulatory reforms likely to be introduced around the world to prevent future financial crises, Canadian Finance Minister Jim Flaherty said on Wednesday Steven Wevodau
Germany's biggest privatisation in eight years appears heading to be for the buffers after the government warned it would probably not sell a stake in the train operating unit of Deutsche Bahn until after the general election in September. The Steven Wevodau
WASHINGTON -- Congressional Democrats plan to use their widened majority to push quickly for a broader government role in financial markets, citing Tuesday's election as a repudiation of years of Republican deregulatory policies. House Financial Steven Wevodau
Nov 5 (Reuters) - CompuCredit Corp (nasdaq: CCRT - news - people ) posted a wider-than-expected loss for the third-quarter as the marketer of branded credit cards and related financial services saw a significant decline in total interest income Steven Wevodau
The election of Barack Obama has put the wind back into the sails of the renewable energy sector, where investor confidence had been badly punctured by the credit crisis. Clean technology and green energy stocks have soared as City analysts predict a Steven Wevodau
NEW YORK, Nov 5 (Reuters) - As Apollo Management's options dwindle in its struggle over the acquisition of Huntsman Corp (HUN.N: Quote , Profile , Research , Stock Buzz ), the private equity firm would benefit from a strategy to reduce its Steven Wevodau
Tuesday, November 4, 2008
Steven Wevodau - AIG investors lost more than $500 million - San Francisco Gate
The ruling Friday by Judge Christopher Droney means five former insurance executives convicted of the scheme could face up to life in prison under advisory sentencing guidelines. Four former executives of General Re Corp. and a former executive of
SCENARIOS: Economic challenges facing the next president - Reuters
(Reuters) - Whether Democrat Barack Obama or Republican John McCain wins the White House on Tuesday, the next U.S. president will face a host of acute economic problems on a scale not seen since the 1930s. Below is a handful of some of those
Insurance - Household insurance - This is Money
Thousands of people will be celebrating bonfire night by lighting fireworks in their back gardens. Should you buy more insurance to cover the extra danger? It's not surprising that there was an increase of 240% on claims last year on the 5th of
Monday, November 3, 2008
Steven Wevodau - October chain store sales expected to fall (Reuters)
Reuters - U.S. retail chains may report one of their worst monthly sales results this week as a global financial crisis leaves its mark on ordinary consumers, casting new doubt on holiday season sales.
Viacom earnings drop 37 percent; ad slump hurts (Reuters)
Reuters - Viacom Inc (VIAb.N), owner of MTV Networks and Paramount movie studio, reported a 37 percent drop in third-quarter earnings, further evidence major media companies are suffering from an intensifying advertising slump.
Recession rears ugly head, global auto sales shrink (Reuters)
Reuters - Corporate results and outlooks darkened on Monday, and automotive companies from Japan to Italy to Detroit said October sales were the weakest in about 20 years as economies weakened and consumer credit dried up.
Auto sales hit 25-year low, Europe outlook bleak (Reuters)
Reuters - U.S. auto sales plunged 32 percent in October to lows unseen in a quarter-century led by a 45 percent drop at General Motors Corp in a collapse that hit every major automaker and offered little sign that the industry has hit bottom in its largest market.
FTSE 100 up 65.94 points at 4,443.28 (AP)
AP - Share prices on the London Stock Exchange closed up Monday.
Steven Wevodau - October chain store sales expected to fall (Reuters)
Reuters - Corporate results and outlooks darkened on Monday, and automotive companies from Japan to Italy to Detroit said October sales were the weakest in about 20 years as economies weakened and consumer credit dried up.
Steven Wevodau
Saturday, November 1, 2008
Steven Wevodau - China, India wary of taint of global economic crisis (Reuters)
Reuters - Two powerhouse emerging market countries in Asia felt the sting of the global financial crisis on Saturday as India cut its main short-term lending rate and China said it was bracing for a slowdown.
Steven Wevodau
Steven Wevodau - UK PM Brown Heads To Gulf For Talks On World Economy - CattleNetwork.com
LONDON ( AFP)--U.K. Prime Minister Gordon Brown heads Saturday for a tour of oil-rich Gulf states, hoping to persuade them to give extra funds to help countries hit by the world economic turmoil . Brown will spend four days in the region holding
Press Democrat lays off 16, citing ailing economy, declining ad - Santa Rosa Press Democrat
Because of declining advertising and the deteriorating local economy, The Press Democrat is eliminating 16 positions, including 10 in the newsroom. "We have to cut additional expenses into 2009," Publisher Bruce Kyse told employees Friday as he
For economy, glum news keeps piling up - Houston Chronicle
WASHINGTON — Evidence of a recession piled ever higher Friday, with new figures showing Americans are spending less and gloomy about the economy, while the government signaled it won’t buy stock in the financing arms of auto companies to prop
BSkyB profit down, confirms customer target - International Herald Tribune
LONDON : Satellite broadcaster British Sky Broadcasting Group PLC said Friday its net profit dropped 13 percent in the third quarter but reaffirmed it is on course to have 10 million customers by the end of 2010 — even though the British economy is
China,India wary of taint of global economic crisis - Reuters
LONDON, Nov 1 (Reuters) - Two powerhouse emerging market countries felt the sting of the global financial crisis on Saturday as India unexpectedly cut its main short-term lending rate again and China said it was now feeling a slowdown. The
Economy: Gov. candidates unveil their plans - Brattleboro Reformer
BRATTLEBORO -- The three major candidates in Vermont's gubernatorial race have focused their campaigns on the state's economy. And all three have portrayed themselves as the battle-tested candidate to deliver the goods during the current economic
British PM Urges Oil Rich Gulf States to Stabilize World Economy - Voice of America
Prime Minister Gordon Brown says oil-rich countries in the Middle East should help stabilize the global financial system. Mr. Brown left London Saturday for a four-day tour of Saudi Arabia, Qatar and the United Arab Emirates. He hopes to persuade
Iraq budgets $15 billion for reconstruction - Chicago Sun-Times
BAGHDAD -- Iraq has earmarked some $15 billion -- nearly 25 percent of its 2009 draft budget -- to help rebuild the country's crumbling infrastructure, energy and oil facilities, the finance minister said Saturday. But Bayan Jabr stressed those funds