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Senate Panel Affirms Sebelius to Lead HHS
Kathleen Sebelius' nomination to serve as secretary of the U.S. Department of Health and Human Services moves to the full U.S. Senate, as the Senate Finance Committee approved the ...
Source: BestWire   Date: April 21, 2009
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Phoenix Life Says It Won't Get TARP Funds
Phoenix moved to acquire Sugar Creek, Mo.-based American Sterling Bank. That deal and the company's subsequent application to convert to a savings and loan holding company both ...
Source: BestWire   Date: April 21, 2009
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New York Regulator Demands Answers on Allstate Op-Ed
New York state Insurance Superintendent Eric R. Dinallo is asking Allstate Corp.'s Tom Wilson to disclose any details of the company's participation in "unregulated insurance ...
Source: BestWire   Date: April 20, 2009
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Update: Zurich Buy of AIG's 21st Century Gets Regulatory Fast Track
American International Group Inc.'s 21st Century Insurance Cos. to Zurich Financial Services' Farmers Insurance Group will receive an expedited regulatory review that should wrap ...
Source: BestWire   Date: April 17, 2009
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Zurich Buy of AIG's 21st Century Gets Regulatory Fast Track
American International Group Inc.'s 21st Century Insurance Cos. to Zurich Financial Services' Farmers Insurance Group will receive an expedited regulatory review that should wrap ...
Source: BestWire   Date: April 17, 2009
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$2B AIG Deal to Make Farmers Third-Largest U.S. Auto Writer
... Robert Woudstra said in a statement. According to an AMB Credit Report, 21st Century Insurance Cos. posted a $39.1 million profit in 2008 after a net loss of $10.3 million in 2007. ...
Source: BestWire   Date: April 16, 2009
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Bailouts Could Be Used to Remake Rating Business, SEC Panelist Says
Securities and Exchange Commission. Appearing before an SEC panel on oversight of credit rating agencies, former Morgan Stanley global research director Mayree C. Clark, now a ...
Source: BestWire   Date: April 15, 2009
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House Panel Wants Probe of AIG's P.R. Contracts
April 2 testimony before the committee. During that appearance, Greenberg told the committee the current approach of federal officials and government-installed leadership "has not ...
Source: BestWire   Date: April 15, 2009
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Syncora Says It Could Suspend Claims Payments
Bond insurer Syncora Guarantee Inc. has until May 29 to complete a comprehensive restructuring of its master transaction agreement and could suspend paying claims as early April ...
Source: BestWire   Date: April 15, 2009
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Title Insurer Fidelity Expands Planned Public Offering
Fidelity (NYSE: FNF) said it now plans to offer 15.8 million shares of common stock, up from 13.3 million, and that it plans to price them at $19 a share, representing a $300.2 ...
Source: BestWire   Date: April 15, 2009
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Title Insurer Fidelity National Plans $260 Million Offering
Fidelity National Financial will use a shelf registration to issue 13.3 million common shares, potentially raising as much as $260 million for the title insurer. No schedule has ...
Source: BestWire   Date: April 14, 2009
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MetLife Won't Participate in Treasury's Capital Program
...Life (NYSE: MET) Chairman C. Robert Henrikson said in a statement. "We repositioned our investment portfolio over a year ago for the current recession; completed a successful $2.3 ...
Source: BestWire   Date: April 14, 2009
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Snowe Revives Bill Extending Tax Carryback for Net Losses
The NOL Carryback Act, S. 823, would allow firms to claim carryback losses that would call for the refund of taxes paid in recent profitable years. Current tax law allows net ...
Source: BestWire   Date: April 13, 2009
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Bond Insurer Syncora Deregisters Outstanding Shares
Commission to deregister its common and preferred shares. According to Syncora, deregistration of all shares should be effective within 90 days, removing the company's burden to ...
Source: BestWire   Date: April 13, 2009
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Vermont Senator Recommends VCIA President to Serve in Department of Agriculture
Senate Judiciary Committee Chairman Patrick Leahy, D-Vt., is recommending the Obama administration name Vermont Captive Insurance Association President Molly Lambert to direct ...
Source: BestWire   Date: April 13, 2009
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Investment Fund Files Suit to Unwind MBIA Restructuring
Capital Partners LP and Fir Tree Partners -- in U.S. District Court in New York on behalf of funds that own securities guarantied by MBIA. In February, MBIA announced it would ...
Source: BestWire   Date: April 7, 2009
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Health Plans Bristle as CMS Cuts Medicare Advantage Payments
Medicare & Medicaid Services. Though the final guidelines proved not quite as harsh for insurers as those proposed in February in connection with a preliminary 45-day notice, the ...
Source: BestWire   Date: April 7, 2009
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U.S. Private Equity Firm Takes Stake in African Insurer
Generale Assurance Mediterraneenne. The 14-year-old NSIA is headquartered in Cote d'Ivoire and also does business in Benin, Cameroon, Congo, Gabon, Guinea Bissau, Senegal and Togo. ...
Source: BestWire   Date: April 6, 2009
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Offshore Reinsurance Plan Unveils Sharp Divisions
Senate Finance Committee Chairman Max Baucus, D-Mont., and given vocal support from President Barack Obama and Treasury Secretary Tim Geithner, tax deductions for reinsurance paid ...
Source: BestWire   Date: April 6, 2009
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Perspectives: AIG’s Example Offers Case Study for Industry’s Other Federal Bailout Applicants
Treasury aid, and more moves could still be in the offing. Which begs the question of why anyone, much less fellow insurance companies, would want to follow AIG's example and crawl ...
Source: BestWire   Date: April 6, 2009
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