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Future Terrorist Attacks May Cost Billions Or Doom Insurance Industry

AHN

Ayinde O. Chase - AHN Staff Writer Washington DC (AHN) - The American Academy of Actuaries announced on Wednesday that a future large terrorist attack in New York City might come with a $778 billion price tag in insured losses, and in the event of any other large scale terrorist attack in the...

Zurich Financial settles with 3 US states

YAHOO

Reuters - Zurich Financial Services on Monday agreed to pay $153 million to settle insurance bid-rigging charges by New York, Connecticut and Illinois, bringing to about $325 million in such settlements it has made with 12 U.S. states.

Nippon Life stock gains to hit 15-year high: paper

YAHOO

Reuters - Nippon Life, Japan's biggest private insurance company, is expected to have unrealised gains on shareholdings that are the highest in 15 years as of March 31, thanks in part to a surging stock market, the Nihon Keizei business daily reported on Saturday.

GM sells part of GMAC division

YAHOO

USATODAY.com - General Motors said Thursday that its finance arm is raising nearly $9 billion in cash by selling a majority interest in its commercial mortgage division in a move that spruces up the books of the auto loan and insurance business the struggling automaker is trying to sell.

GM Selling Majority Stake in Part of Unit

YAHOO

AP - General Motors Corp. said Thursday that it is selling a majority interest in its commercial mortgage division for $1.5 billion in cash to a private investment group.

	Categories		Latest Insurance News		Related:
	Business Links Trade links		Healthcare Executives Believe Efficient Payment Methods Could Reduce Costs AHN Ayinde O. Chase - AHN Staff Writer Pittsburgh, Pennsylvania (AHN) – According to a study released on Wednesday by PNC Financial Services Group, hospital and insurance executives believe that an automated medical claims and payment process may reduce the costs of health care in the United... Sources: AHN Enron-like tales show conflicts may linger YAHOO Reuters - It's a story straight out of the pre-Enron playbook: An investment bank takes an insurance company public, keeps some of the company's shares for itself, and then issues a report telling investors not to sell even as the shares plummet. Sources: YAHOO Berkshire Hathaway 2005 net shr rises YAHOO Reuters - Berkshire Hathaway Inc. (BRKa.N) (BRKb.N), the insurance and investment company run by billionaire Warren Buffett, on Saturday said profit in 2005 year rose 17 percent from a year earlier, as insurance premiums increased and investment gains more than tripled. Sources: YAHOO Foot Locker 4Q profit rises 7 pct YAHOO Reuters - Foot Locker Inc on Wednesday said that fourth-quarter profit rose 7 percent, helped by fewer taxes and hurricane-related insurance proceeds. Sources: YAHOO GE to sell remaining Genworth stake worth $2.8 bln YAHOO Reuters - General Electric Co. on Monday said it plans to sell its remaining stake in Genworth Financial Inc. for about $2.8 billion, less than two years after it took the life and mortgage insurance unit public. Sources: YAHOO New Hampshire Worker Bill Gets Sent Back For Amendment AHN Ayinde O. Chase - All Headline News Staff Writer Washington DC (AHN) - The anti-worker lobby in New Hampshire was dealt a significant blow in the state legislature when the Senate Banking and Insurance Committee agreed to radically amend SB 247, the proposed "Right to Work" bill. Opponents of... Sources: AHN Sikorsky Aircraft Workers On Strike AHN Andrea Moore - All Headline News Staff Reporter Stratford, Connecticut (AHN) - Nearly 3,600 Sikorsky Aircraft workers in Connecticut and Florida have gone on strike, blaming increased health insurance costs in the company's contract offer. Workers with Local 1150 of the Teamsters... Sources: AHN Middle class feeling pinched in rich Hong Kong YAHOO Reuters - Hong Kong's economy might have grown by an estimated 7 percent last year and outshone many others in the region, but for insurance agent Ngai Wai-wang, that is immaterial. Sources: YAHOO NASD to Teach Military About Finances YAHOO AP - Abusive marketing to military recruits of overpriced, unsuitable mutual funds and life insurance has led to a campaign to educate service members and their spouses on financial matters. Sources: YAHOO Marsh & McLennan posts 4th-qtr profit YAHOO Reuters - Marsh & McLennan Cos. , the world's largest insurance broker, on Tuesday posted a fourth-quarter profit compared with a year-earlier loss, when the company took charges to settle a bid-rigging probe. Sources: YAHOO US stocks gain on Aon earnings and techs' rebound YAHOO Reuters - U.S. stocks rose on Friday as positive earnings lifted insurance broker Aon Corp.'s shares, while the technology sector rebounded. Sources: YAHOO AIG near huge settlement with regulators: reports YAHOO Reuters - American International Group Inc. , the U.S. insurance giant, was said on Sunday to be close to reaching a huge settlement with U.S. regulators to resolve accounting fraud allegations, the Wall Street Journal and the New York Times reported. Sources: YAHOO Court: Case Against Wal-Mart Can Proceed YAHOO AP - A federal appeals court told a lower court Thursday to go ahead and rule on a lawsuit by Wal-Mart workers alleging that the world's largest retailer unfairly threatened to withhold benefits from employees who unionize. Sources: YAHOO Gartmore bids expected in weeks: sources YAHOO Reuters - U.S. insurance giant Nationwide Mutual Insurance Company expects first-round bids for the European part of its Gartmore fund management business within weeks, said sources familiar with the situation on Monday. Sources: YAHOO Zurich calls off US Universal Underwriters sale YAHOO Reuters - Zurich Financial Services Group has canceled the $1.1 billion sale of its Universal Underwriters auto dealer insurance unit to private equity house Hellman & Friedman. Sources: YAHOO California court reinstates Staples lawsuit YAHOO Reuters - A California state appeals court has reinstated a lawsuit claiming that Staples Inc. , the largest U.S. office supply retailer, overcharged customers on insurance when shipping products. Sources: YAHOO Analysts see another big year for insurance stocks YAHOO Reuters - Many stock analysts see another year of gains for insurers, with lightning striking twice for top-performing insurance broker Aon Corp. and auto insurer Progressive Corp. . Sources: YAHOO Decision on Unipol bid nears, details sent to BoI YAHOO Reuters - Italian insurance regulator ISVAP has sent details to the Bank of Italy on insurer Unipol's planned bid for BNL , a source close to the deal said on Monday, bringing a long-awaited decision on the bid nearer. Sources: YAHOO		Other aggregators

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