Hints and tips:
...Allstate, State Farm and AIG have stopped underwriting new homeowners’ policies in California because of the risk of destructive wildfires....
...But the likelihood of the rebuilding effort that could follow such a storm propped up home improvement companies such as Home Depot and Lowe’s....
...Fitch notes the five groups with the biggest homeowners insurance exposures, are: State Farm Group, Heritage Insurance Group (including Hawaii focused Zephyr Insurance Company), USAA Group and Allstate...
...The tax bill is a victory for domestic US insurers including Allstate, Berkshire Hathaway and Travelers, which argued that their international rivals — especially in Bermuda — had an unfair tax advantage...
...(Financial Times) In response to regulation, Goldman ditching less profitable clients and changing rules for hedge funds (WSJ) Argentina v holdouts: plus ça change (Financial Times) Espírito Santo: the...
...Awkward (Financial Times) Moscow’s ‘political technologists’ specialise in creating pure spectacle (Financial Times) Sleaze v spin in Mexico’s race for reform (Financial Times) The SEC is turning into...
...government rescue, of American International Group....
...Prudential is rated single A and Baa2 while Allstate is rated single A minus and A3....
...In 2007, he became chief executive officer of Allstate and Allstate Insurance, taking over from Edward Liddy....
...Imposing the deposit insurance premium on these formerly un-taxed liabilities is part of a broader and, indeed, international attempt to reduce bank balance sheets and eliminate the risk of liquidity flight...
...One of Mr Benmosche’s first tasks will be to lead negotiations with his former employer over the sale of American Life Insurance Company, one of AIG’s crown jewels....
...In the months after [Greenberg] left, AIG amped up its bets on the housing market by writing what where, in effect, insurance policies on derivative securities backed by subprime mortgages....
...., Inc., which was formed in 1950 and focuses on highly specialized insurance lines; far more, we believe, have joined other, larger companies....
...If growth in developed countries starts to look like a “U”, in emerging markets it already is a “V”....
...Mr Liddy – a well-connected former chief executive of the insurer Allstate and Goldman Sachs director – defused such attacks with his avuncular and understated style, but people close to him noticed he was...
...Allstate, the US insurer, had also been looking at the assets....
...But he also has to run the operations AIG wants to keep – whose $40bn in sales outstrip the turnover of Allstate and many other rivals – in the hope of restoring the company’s fortunes as an independent,...
...In September, Mr Liddy pledged to sell off significant portions of AIG’s international operations in order to pay back the government loan....
..., Ping An and American International Group....
...“I think the bigger holders now of securitisations are insurance companies and pension funds.”...
...“The Federal Reserve and the US Treasury now understand they are dealing with systemic risk rather than one company’s problems,” said Mr Liddy, a former chief executive of the insurer Allstate and board...
...AIG is a huge multinational insurer – but unlike many other insurance companies it expanded into financial services, a division which now lies at the centre of its problems....
...Eric Dinallo, New York Insurance Superintendent, told CNBC on Wednesday morning that AIG’s assets had already attracted strong interest but that the company might need more capital....
...The other trade bidders that received the sales memoranda were Ping An, the Chinese insurer, and US insurers Allstate, Travelers and American International Group....
...There are also doubts over whether Allianz, the German insurer, and American International Group of the US will table bids....
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