China Life Insurance stock rating prices target by zacks

China Life Insurance stock rating prices target by zacks, China Life Insurance stock rating 2013 : China Life Insurance (NYSE: LFC) was downgraded by Zacks from a “neutral” rating to an “underperform” rating in a research note issued to investors on Thursday. They currently have a $46.00 price target on the stock.

Zacks‘ analyst wrote, “We are downgrading our recommendation on China Life to Underperform based on the constant decline in operating cash flow, which is affecting the financials. The gradual decline in premiums and increasing competition on the domestic front are the other downsides. The company also faces substantial interest rate and currency risks, which limit the upside. China Life also reported a net loss in the third quarter, due to a surge in operating expenses, which offset the operating income increases. However, total assets and shareholders’ equity improved, although cash fund deteriorated. Meanwhile, the subordinated debt issue has improved the solvency ratio. The company has a strong brand name, an extensive domestic distribution channel, strong investments and stable ratings.”

Separately, analysts at Credit Suisse downgraded shares of China Life Insurance from a “neutral” rating to an “underperform” rating in a research note to investors on Wednesday.

Nine equities research analysts have rated the stock with a buy rating, four have given an overweight rating, fourteen have given a hold rating, and one has given a sell rating to the company’s stock. The stock currently has a consensus rating of “overweight” and an average price target of $48.66.

Shares of China Life Insurance traded up 0.24% during mid-day trading on Thursday, hitting $51.17. China Life Insurance has a one year low of $33.00 and a one year high of $52.72. The stock’s 50-day moving average is currently $47.73. The company has a market cap of $94.110 billion and a P/E ratio of 66.73.

China Life Insurance Company Limited is an insurance company. The Company provides a range of insurance products, including individual life insurance, group life insurance, accident insurance and health insurance products. Source www.zacks.com life insurance companies

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Effective and Efficient Insurance Group Supervision in the U.S

best insurance stock  - Effective and Efficient Insurance Group Supervision in the U.S : The Property Casualty Insurers Association of America issued the following news release: The Property Casualty Insurers Association of America (PCI) today released a white paper entitled, "Effective and Efficient Insurance Group Supervision in the U.S.: What More, if Anything is Needed?" The document outlines PCI's group supervision principles and group supervision implementation recommendations.

This white paper is a product of PCI's broader efforts to have a positive influence on global regulatory convergence issues. It outlines PCI's principles and recommendations that should be taken into account by policymakers in any discussions relating to changing U.S. insurance group supervision. This paper will help will assure that the U.S. insurance regulatory system is not undermined and that any group supervision changes promote efficiency and do not simply impose an additional layer of regulation that ultimately harms consumers and the large economy.

"Group supervision issues arise out of many international work streams, including IAIS ComFrame and US-EU Dialogue," said Robert Gordon, PCI's senior vice president policy research and development. "The fact is that current US insurance regulation functions quite well and in our view, adequately accounts for necessary supervision of groups. This is borne out by the excellence performance of the industry despite the financial crisis, natural catastrophes, and years of recession."  Read full PCI release insurance companies

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Nigeria insurance market trends by A.M. Best Co

Nigeria insurance market trends by  A.M. Best Co : Economic development and the demand for energy infrastructure projects has been fuelled by Nigeria’s oil and gas industry, resulting in the country’s insurance market becoming the largest in West Africa, according to a new report from A.M. Best Co.

“Africa’s Diverse Insurance Markets Offer Growth Opportunities, Untapped Demand”

In the report entitled, “Africa’s Diverse Insurance Markets Offer Growth Opportunities, Untapped Demand”, A.M. Best notes total insurance premium in Nigeria reached USD 1.6 billion in 2011, although insurance penetration is modest at 0.6%. The report states the Pension Reform Act, which makes pension insurance compulsory for companies employing more than five people, is likely to drive further growth in life premiums. A.M. Best considers the development of the life portfolio in Nigeria as positive for insurers’ diversification, although management teams may need to demonstrate their skills in these new areas.

Carlos Wong-Fupuy, Senior Director, Analytics, said: “Nigeria’s non-life sector accounted for 74% of total premium in 2011, with drivers including the enforcement of compulsory lines of business such as motor third-party liability, professional indemnity, public and general liability. Motor risks make up more than a quarter of non-life premium in Nigeria. This reflects the country’s oil and gas risks, which result in very volatile growth in gross premiums written and low retention ratios.”

The report notes the insurance market has experienced consolidation driven primarily by higher capital requirements. The financial crisis also contributed to merger and acquisition activity, as the Central Bank of Nigeria passed a directive ordering all deposit money banks to divest their non-banking interests or form a holding company structure. However, the report states Nigeria’s insurance market remains crowded.

Source: Business Wire car insurance quotes

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Vermont Mutual Insurance issuer credit rating by A.M. Best

best insurance stock - Vermont Mutual Insurance issuer credit rating by A.M. Best : A. M. Best Co. said it has upgraded the issuer credit rating (ICR) to “a+” from “a” and affirmed the financial strength rating of A (Excellent) of Vermont Mutual Insurance Company and its two fully reinsured subsidiaries, Northern Security Insurance Company and Granite Mutual Insurance Company.

These companies are members of Vermont Mutual Insurance Group and are all domiciled in Montpelier, Vermont. The outlook for all rating is stable.

The ICR upgrade reflects Vermont Mutual’s favorable underwriting and operating results. In addition, Vermont Mutual continues to maintain solid risk-adjusted capitalization, a well established market presence in the New England states and knowledge of local insurance issues.

Chartered in 1828, the Vermont Mutual Insurance Company is one of the 10 oldest mutual property/casualty insurers in the United States. The Vermont Mutual Insurance Group provides coverage throughout New England and New York.

Through more than 400 independent agencies, Vermont Mutual insures some 275,000 policyholders with a direct written premium of more than $300,000,000. workers compensation insurance

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QBE Insurance stock prices target by Credit Suisse

Best insurance stocks - QBE Insurance stock rating prices target by Credit Suisse : Credit Suisse reissued their outperform rating on shares of QBE Insurance Group Limited (ASX: QBE) in a research report released on Tuesday morning. Credit Suisse currently has a $13.79 (13 AUD) price target on the stock.


QBE has been the subject of a number of other recent research reports. Analysts at Macquarie reiterated a neutral rating on shares of QBE Insurance Group Limited in a research note to investors on Tuesday, January 15th. They now have a $13.44 price target on the stock. Separately, analysts at Nomura reiterated a buy rating on shares of QBE Insurance Group Limited in a research note to investors on Thursday, January 10th. They now have a $14.74 price target on the stock. Finally, analysts at CIMB reiterated a neutral rating on shares of QBE Insurance Group Limited in a research note to investors on Wednesday, December 12th. They now have a $12.73 price target on the stock.

Shares of QBE Insurance Group Limited traded down 2.55% during mid-day trading on Tuesday, hitting A$11.830. QBE Insurance Group Limited has a one year low of A$9.880 and a one year high of A$15.150. The stock’s 50-day moving average is currently A$13.12. The company has a market cap of A$13.936 billion and a P/E ratio of 18.28.

QBE Insurance Group Limited is engaged in underwriting general insurance and reinsurance risks, management of Lloyd’s syndicates and investment management. car insurance companies

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Travelers insurance earnings surpassing the Zacks Consensus

Best Insurance stock - Travelers insurance earnings surpassing the Zacks Consensus : The Travelers Companies, Inc. (TRV - Analyst Report) reported earnings of 72 cents per share in the fourth quarter of 2012, surpassing the Zacks Consensus Estimate of 4 cents per share. However, results plunged 51% from $1.48 earned in the year-ago quarter. Operating income of $278 million dipped 54% the reported quarter.

The year-over-year downside was largely attributable to higher catastrophe losses mostly due to Hurricane Sandy. However, higher underlying underwriting margins and higher net favorable prior-year reserve development limited the downside to some extent.

Cat loss in the quarter was $689 million or $1.78 per share. Including net realized investment gains of $26 million or 6 cents per share, the company reported net income of $304 million or 78 cents per share, comparing unfavorably with net income of $618 million or $1.51 a share. The year-ago quarter included net realized investment gains of $9 million.

Operational Update

Net written premiums during the quarter were $5.4 billion, up 2% year over year.

Net investment income increased 5.7% year over year to $689 million during the quarter, largely attributable to better performance at non-fixed income portfolio, partly muted by reduction in fixed income returns.

Travelers posted underwriting loss of $338 million, comparing unfavorably with profit of $187 million in the year-ago quarter. Combined ratio deteriorated 950 basis points year over year to 105.4% in the reported quarter. The deterioration was due to higher catastrophe losses, partially muted by higher underwriting margins and higher net favorable prior-year reserve development.

Total revenue in the quarter under review was $6.5 billion, increasing 2% year over year, driven by the augmentation in premiums earned and net investment income. Revenues surpassed the Zacks Consensus Estimate of $6.3 billion.

Full Year Highlights

Operating earnings of $6.21 per share outpaced the Zacks Consensus Estimate of $5.56 and year ago earnings of $3.28. The upside stemmed from a combination of lower catastrophe losses, higher underwriting margins and higher net favorable prior-year reserve development

Including net realized investment gains of 9 cents, the company reported net income of $6.30 per share, surging from $3.36 a share earned in 2011.

Total revenue increased 1% year over year to $25.7 billion. It also outperformed the Zacks Consensus Estimate of $25.2 billion.

Underwriting gains of $296 million reversed the year-ago loss of $745 million. Combined ratio improved 800 basis points.

Segment Update

Business Insurance: Net written premium increased 6% year over year to $2.78 billion in the quarter, largely driven by increases in renewal rate change.

The combined ratio deteriorated 770 basis points year over year to 103.5%, mainly due to higher catastrophe losses.

Operating income slid 27% year over year to $326 million in the fourth quarter of 2012, primarily attributable to higher catastrophe losses.

Financial, Professional & International Insurance: Net written premium in the quarter under review improved 2% year over year to $808 million, driven by a 6% increase in net written premiums in the International business.

The combined ratio deteriorated 100 basis points year over year to 80.2% in fourth quarter 2012, attributable to higher catastrophe losses.

Operating income descended 13.8% year over year to $131 million, attributable to higher catastrophe losses, partly offset by higher underlying underwriting margins

Personal Insurance: Net written premium skidded 3% year over year to $1.79 billion, primarily due to lower new business volumes.

The combined ratio deteriorated 1540 basis points year over year to 89.7% in the fourth quarter of 2012, largely driven by higher catastrophe losses.

Operating loss of $114 million compared unfavorably with profit of $77 million in the year-ago quarter largely due to higher catastrophe loss. However, higher underlying underwriting margins and higher net favorable prior-year reserve development limited the downfall.

Dividend and Share Repurchase

Travelers spent $400 million to buyback 5.4 million shares in the quarter, taking the tally to $1.45 billion spent to buyback 22.4 million shares in 2012. The company is still left with $2.159 billion remaining under its authorization.

The company also paid $178 million in dividends. Additionally, the board approved a quarterly dividend of 46 cents, payable Mar 29, 2013, to the shareholders of record as of Mar 8, 2013.

Our Take

Travelers continues with the trend of delivering positive earnings surprise.

Though its exposure to cat loss weighs on the results, prudent underwriting practices and favorable prior-year reserve development managed to limit the adverse affect.

High retention rate, pricing gains, positive renewal rate changes, and a strong capital position are among the other positives, which are likely to support Travelers perform better going forward.

Travelers’ continuous share buyback strategy has a positive impact on earnings per share and also bolsters shareholder value.

Further, Travelers recently increased its stake in J. Malucelli Participações em Seguros e Resseguros S.A., a market leader in the surety insurance business in Brazil. Further, it made some useful investments to augment its technology platform. It scores strongly with the rating agencies as well.

source -  Zacks.com humana health insurance

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Who Should Buy Travel Health Insurance?

Travel health insurance is not mandatory; it is advisable for all international travelers. Any traveler may buy it or travel without travel health insurance coverage, but the thing is no one can tell that anything will not happen to me. Unfortunately, if anything goes wrong, you will regret the decision when you see the unbearable medical expenses.  Future is absolutely uncertain and travel health insurance is just an element to reduce this uncertainty.

Who Should Buy Travel Health Insurance

If you are planning to travel abroad with family, your employees, partner than travel health insurance helps you to travel safely and give peace in mind that you will be covered if anything goes wrong.

Travel insurance companies offer various travel health insurance policy for regular and irregular travelers. There are many travelers who travel without travel health insurance and regret further. There are few category travelers discussed here who need to buy travel health insurance.

Long-term Travelers
International travelers who are planning to travel for long period and staying abroad for at least one year need health coverage because there is no chance to come back to home country immediately to buy another health insurance.

Travelers Planning To Visit Multiple Countries
Because of business trip or adventure there are many international travelers who are planning to travel multiple countries. You can guarantee your health emergency for one country but you cannot guarantee it for another country because weather and geographic conditions are not same for all countries and no one can say which country will suit to his or her health. So you have to make sure to get such travel health insurance which will cover outside the U.S. if you are U.S. citizen and any country where you will travel.

Business Travelers
If you are working in another country and your present health insurance plan does not cover outside the U.S., contact with your travel insurance agency and get another medical and evacuation plan.

International Travelers
Mostly health insurance coverage doesn’t cover any medical expenses outside the U.S and that’s why many travelers face tremendous problem while traveling foreign country. So if you are planning travel outside U.S., you need to buy travel health insurance which will cover any accidental medical emergency and health injuries that can happen beyond your existence health insurance coverage.

Traveling With Families
Many U.S. travel insurance policy cover all health and medical expenses but out of you health insurance network, you may have some problems because they don’t cover your medical emergency. It will be best way to end traveling happily by little cost and buying travel health insurance. This small cost will help you on the way of you travel because you have families with you. If anything bad happens such as food poisoning, auto accident, and medical emergency while traveling, you won’t regret because you little insurance will cover.

Do You Really Need Travel Health Insurance?
If you are one of these travelers, you need to buy travel health insurance immediately no matter where you are traveling. Before deciding to buy insurance you first know travel health insurance basics. Safety is essential for life which brings peace in mind. Your purpose of traveling will be fulfilled; you can enjoy the adventure of traveling only if you have travel health insurance. Enjoy your travel. cheap car insurance

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Genworth would separate its mortgage insurance business

Best Insurance stock - Genworth would separate its mortgage insurance business  : Genworth Financial Inc said it would separate its mortgage insurance business into a new company, as the company looks to insulate itself from its troubled mortgage insurance unit, sending its shares up 4 percent before the bell.

Mortgage insurers have been struggling to recoup their losses after the housing bubble burst and foreclosures soared, leaving them with large claims on unpaid home loans.

Genworth on Wednesday said the restructuring will help protect the company from insolvency events related to its U.S. mortgage insurance subsidiaries and will not lead to a default under the indenture governing Genworth's senior notes.

Bond rating firm Moody's in September said it would likely downgrade Genworth unless the company could insulate itself from continuing losses from its mortgage insurance unit.

Genworth, which was spun off from industrial conglomerate General Electric, said the new plan along with an improving U.S. housing market is expected to result in breakeven or modest profitability for its mortgage insurance units during one or two quarters in 2013.

Genworth named Thomas McInerney as chief executive in December, replacing long-time CEO Michael Frazier who resigned after the insurer pushed back plans to sell a minority stake in its Australian mortgage insurance business through an initial public offering.

The reorganization, which is expected to be completed by the second quarter of 2013, comes days after the company appointed Michael Derstine as chief risk officer.

The company said it will continue to hold the outstanding senior and subordinated notes, which will be guaranteed by the new company. Genworth also plans to contribute $100 million to the new company.

Shares of Genworth, which have risen about 37 percent since reporting a third-quarter profit in October, were up 4 percent at $8.45 before the bell. new york life insurance

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10 Insurance [do not] You Need

Currently, there are many offers and all insurance costs are not small. However, the value of the coverage you need to learn carefully and wisely. Before buying any policy, make sure you are careful to make sure the terms, scope and cost.

In fact, there are many potential catastrophe insurance are less worthy of attention, such as the following insurances:

1. Private Mortgage Insurance
It is insurance protection against losses the lender when the borrower is given a high risk. This insurance is only necessary if you are buying a home with a down payment of less than 20% of the value of the home.

2. Insurance Warranty Extension
Insurance is available at stores that sell electronic equipment. From the point of view of the consumer, the warranty is very rarely used, especially in small electronic items such as DVD or radio.

3. Car Accident Insurance Protection
If you have a loan on the car, lenders tend to require that you have an accident insurance because insurance is designed to cover the cost of vehicle repairs. If your car is paid off, the insurance is not that you need.

4. Car Rental Insurance
In fact, most people rarely rent a car. Even doing so, although the cost of insurance is relatively inexpensive, when amortized over a lifetime may amount you spend will be greater than the benefits.

5. Cheap insurance
Your personal life insurance policy should already cover catastrophic.

6. Life Insurance for Children
Statistically speaking, most children grow up safe and healthy so that parents do not have to buy life insurance for their children.

7. Flood insurance
Unless living in a troubled region with a history of flooding, you should not bother buying this insurance.

 8. Credit Card Insurance
Bids stating the credit card insurance can pay the bills due to your failure to pay it off, but this is just a waste of your money. Better you minimize the use of credit cards so no need to worry about the bill.

9. Life Insurance for Home Loans
Rather than add a policy for this insurance and other bills, it makes more sense to get a regular life insurance policy instead.

10. Specified Disease Insurance
Polis is usually reserved for diseases such as cancer, heart disease, and others. Instead of identifying any possible diseases that you may face, got this kind of policy coverage requires accurate medical clarity. auto insurance companies

READ MORE - 10 Insurance [do not] You Need

Travel Insurance for Students - Travel Insurance Tips

Travel insurance for students is comparatively easy than an insurance policy for others. The number of student travelers is less than the number of ordinary travelers because they have less money to expense, but among those, few students seek travel insurance to secure trips. Student travel insurance offers different facilities as packages if you plan to travel abroad. Travelling may not always peacefully and different types of unknown incidents may occur, so when you are planning to buy student travel insurance, check all the possible cause covers your policy. The better way is to consulting with the travelers who have recently traveled your selected countries.

Travel Insurance Tips for Students

 While checking your policy, focus on what activities you are going to participate such as if you want jumping, swimming and skating, consult your insurer and cover the extra possible causes in these areas.

The students do not travel twice a year, because it is very expensive. If you want to travel in a year gap, find the cheapest travel insurance that provide all the facilities and reduce your cost. Check online to find student flights if you are planning to go far away from your home country, but if you are going to a neighboring country then check bus or rail insurance.

How to Purchase Student Travel Insurance Policy?
The student can buy travel insurance either as a group or as individual. Group insurance costs less per person and everyone needs to buy it, but individual insurance costs higher. Therefore, the best suggestion is to make up a group with who are willing to travel and buy an insurance policy as a group.

How to Get Additional Insurance Information?
Search online and you will find numerous helpful travel blog, which offer various suggestions, tips and guideline. If you are new traveler, read their travel experiences and get the handful knowledge. Suppose you have planned to travel Mount Everest in Nepal, you can search blog that describe about this and people who recently traveled in Nepal. Mail them if you have any questions.  Many blog sites describe the beautiful sights around your destination, you may choose from them.

Why You Need Annual Travel Insurance Policy?
Students, who travel multiple times a year, should get an annual insurance policy because it’s cost less and hustle free. You don’t have to search or contact many insurance agencies every time you travel. Annual insurance covers primary medical assistance. Insurance agency finds low cost and discounted airfare and other transportation expenses. You should try to apply for insurance through organizations, which is associated with a selected group of quality insurance companies that can provide the services you need to meet up your travel necessities. The basic coverage of your insurance policy should be health insurance for accidents, illness or injuries, baggage loss or delay, and trip cancellation.

When You Should Buy Insurance Policy?
Insurance should be arranged after you deposit money, but you can purchase later with insurance company’s approval. The best way to buy a policy is before leaving for the trip. Some companies offer the options of extending your insurance duration if you are in study or business trip. auto insurance quotes

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Agency leads: 3 key tips to create life insurance leads

The insurance business is very competitive and it is something which involves a lot of intelligent marketing. If you are an insurance seller, then you have to face the daunting challenge of convincing customers to buy a policy at first. Once they are convinced that an insurance policy will benefit them, you have to then convince them to buy it from your company. Thus, unlike other industries where there is a readymade market, herein the seller has to chalk out a market for himself. And so, if someone doesn’t have good marketing skills, then he is likely to lag behind in the race.

Creating agency leads is no mean feat. It requires lot of hard work and plenty of phone calls. Even once the lead is generated, the seller has to be on his toes all the time and make sure that the rivals do not take away his potential customers. This is a sensitive area since the marketer has to make an impact upon the psychology of the client. You have to make him believe that you are the best person who can sell him a policy at the best rates possible. So, a lot of hassle is involved in the process. While you spend a lot of time and money, success is still not guaranteed. If the leads do not get converted, then all your hard work simply goes down the drain and you stand to lose a lot. 

Here are 3 special tips which can help you secure higher and better life insurance leads:

i.                Approach companies: The companies and corporate houses usually provide a ready market for agency leads. Many of the employees working in an organization prefer to take up a policy to reap its long-term financial benefits. Besides, some companies take up policies in bulk for all their employees as a part of its program. Hence, if you have attractive deals and good marketing prowess, then you can get really good conversion rates with these people. Not just big companies, even small businesses are opening their doors to such offers and can be convinced into buying a policy. The opportunity is certainly there, now it is up to you to make the most of it.

 ii.             Knocking at the doors of the colleges: College is another institute where you can find a large group of like-minded people. Most students at the brink of their career are enthusiastic about such polices, provided you can show them that they will benefit largely. By approaching these institutions, you give yourself a good chance to generate powerful life insurance leads.

iii.         Register with a lead provider: Internet is a great leveler. If it creates problems, it also offers solutions. While it has been instrumental in creating rivals for you, it has also led to the birth of organizations which provide leads by doing thorough research. By contacting these agency leads providers, you can easily secure good leads and go on to register higher sales. However, before joining hands with any company, make sure to check its authenticity & credentials to avoid falling prey to scams. compare car insurance

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AIG insurance stock rating overweight by Evercore Partners

Best Insurance stock - AIG insurance stock rating overweight by Evercore Partners : American International Group (NYSE: AIG)‘s stock had its “overweight” rating restated by analysts at Evercore Partners in a research report issued to clients and investors on Tuesday. They currently have a $40.00 price target on the stock.

Other equities research analysts have also recently issued reports about the stock. Analysts at Sanford C. Bernstein reiterated an “outperform” rating on shares of American International Group in a research note to investors on Wednesday, January 16th. They now have a $45.00 price target on the stock. Separately, analysts at FBR Capital initiated coverage on shares of American International Group in a research note to investors on Thursday, January 10th. They set an “outperform” rating and a $44.00 price target on the stock. Finally, analysts at Wells Fargo downgraded shares of American International Group from an “outperform” rating to a “market perform” rating in a research note to investors on Thursday, January 10th.

Twelve research analysts have rated the stock with a buy rating, one has issued an overweight rating, and nine have issued a hold rating to the company. The stock has a consensus rating of “overweight” and an average target price of $40.43.

American International Group traded up 1.11% on Tuesday, hitting $35.48. American International Group has a 1-year low of $24.66 and a 1-year high of $37.67. The stock’s 50-day moving average is currently $34.89. The company has a market cap of $52.379 billion and a price-to-earnings ratio of 2.42.

American International Group last issued its quarterly earnings data on Thursday, November 1st. The company reported $1.00 earnings per share for the quarter, beating the analysts’ consensus estimate of $0.88 by $0.12. Analysts expect that American International Group will post $3.77 EPS for the current fiscal year.

American International Group, Inc. (AIG) is an international insurance company, serving customers in more than 130 countries. car insurance florida

READ MORE - AIG insurance stock rating overweight by Evercore Partners

Health Insurance Innovations ipo stock prices

Best Insurance stock - Health Insurance Innovations ipo stock prices : Health Insurance Innovations Inc. said it expects to raise up to $72.9 million in an initial public offering. The company plans to sell about 5.4 million shares, at between $14 and $16 a share, according to its most recent filing with the U.S. Securities and Exchange Commission. The shares include 700,000 that underwriters would have an option to purchase to cover over-allotments.

The firm would use $3.5 million of the net proceeds to repay outstanding debt under a term loan and up to $25 million to expand its commission structure, with the rest used for general corporate purposes.

Health Insurance, a Tampa company that develops and administers affordable, Web-based health insurance plans and ancillary products, filed for an IPO in late December.

The company has applied to list its common stock on the NASDAQ Global Market under the symbol “HIIQ.” An expected sale date for the shares was not announced.

Health Insurance Innovations shares prices, Health Insurance Innovations stocks symbol, Health Insurance Innovations stock prediction the general auto insurance

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Details of IRB Re-Insurance Co Privatization

Best Insurance stock - Details of IRB Re-Insurance Co Privatization  : The Brazilian government's National Development Bank, or BNDES, on Wednesday released details of its planned privatization of re-insurance company IRB-Brasil Re, based on an initial public offering of shares.

The privatization process will take place via an increase in IRB's capital. The BNDES set the price of each new share at 2,577 Brazilian reais ($1,263). The government authorized a capital increase of between 2% and 15% for IRB.

Brazil's largest banks, including state-run banks Banco do Brasil SA (BBAS3.BR) and Caixa Economica Federal, and private-sector peers Banco Bradesco SA (BBD) and Banco Itau Unibanco SA (ITUB), will almost certainly gain day-to-day control of IRB after the privatization, according to analysts. IRB has a 40% market share in the re-insurance industry in Brazil.

The federal government, meanwhile, will hold a golden share in IRB. With the golden share, the government will keep a veto power over all key decisions, such as any eventual sale of control.

Currently, the government has a stake of 50% in IRB, while Bradesco has a 21% stake, Itau Unibanco holds a 15% stake and other small insurance companies a 14% stake.

The government said that it won't participate in the capital increase, paving the way for banks to increase their stake in IRB. IRB employees will be allowed to participate in the capital increase, along with the major banks.

"The process will provide IRB better conditions to compete in the re-insurance market, considering the new regulatory environment in which the IRB no longer enjoys exclusive rights over re-insurance," the BNDES said in its statement.

IRB, created in 1939, operated as Brazil's sole re-insurer until 2008, when the government opened the local re-insurance market to private competitors.

Under the rules, the government said IRB will have a period of five years in which to list the company's shares. If the shares aren't listed by the end of that period, then the company's controllers will be obliged to buy back any and all shares acquired by employees. Employees can reserve IRB shares from Feb. 4 to Feb. 14. cheap car insurance quotes

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World Bank insurance program in disaster prone Haiti

World Bank insurance program in disaster prone Haiti : an arm of the World Bank next week will unveil a $1.96 million project that aims to help thousands of low-income entrepreneurs in Haiti protect their livelihoods against natural disasters.

The International Finance Corporation says the program is much-needed. Only 0.3 per cent of Haiti's 10 million people have some form of insurance, one of the world's lowest rates.

Small entrepreneurs are particularly vulnerable to uninsured losses, and can default on debts and be disqualified from future loans when they need money to recover.

The insurance will be distributed through the Haitian microfinance institution Fonkoze, and is supposed to help up to 70,000 people over the next three years. The IFC made the announcement Friday. Details will be released next week. long term care insurance 

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Selective Insurance Group financial results ended December 31, 2012

Selective Insurance Group financial results ended December 31, 2012 : Selective Insurance Group, Inc. (NASDAQ:SIGI) today reported its financial results for the fourth quarter and year ended December 31, 2012.  For the quarter, net income per diluted share was $0.02 and operating loss1 was $0.04.  Net income for the year was $0.68 per diluted share and operating income1 was $0.58 per diluted share.  Overall net premiums written grew 5% in the quarter and retention was up a point to 85%.


“Hurricane Sandy was the most significant event in company history, yet we still ended the quarter with positive net income – a testament to our strong underlying insurance operations performance and our comprehensive reinsurance program,” said Chairman, President and Chief Executive Officer Gregory E. Murphy.  “For the quarter, Sandy resulted in net catastrophe losses of $47 million and a reinsurance reinstatement premium of $9 million; partially offset by flood claims handling fees of $16 million; resulting in an overall, pre-tax, net loss of $40 million and $0.46 per diluted share after tax.  Sandy contributed 9.8 points to the combined ratio for the quarter, but only 2.5 points to the year, yielding an overall fourth quarter statutory combined ratio of 110.4%, excluding the impact from Sandy2 it was 100.6%.

“The hurricane made landfall in our top market share state of New Jersey,” said Murphy.  “Our Claims and Flood departments have been working tirelessly to resolve claims quickly and fairly, and to inform flood customers of the federally mandated National Flood Insurance Program’s claims process.  Personal lines received approximately 8,000 claims and have closed 85% and commercial lines received approximately 5,000 claims and have closed 62%.

“We were pleased with our overall performance in the quarter, delivering a statutory combined ratio of 100.6%, excluding the impact of Sandy2.  Personal lines led the positive results with a combined ratio of 93.9%, excluding Sandy2, and renewal price that increased 8.3% for the quarter.  In personal lines, we continue to file rate increases as well as improve the mix of business and expand the number of agency storefronts,” said Murphy.

“For the quarter, standard commercial lines had a combined ratio of 101.1%, excluding Sandy2,” continued Murphy.  “We completed our 15th consecutive quarter of price increases with standard commercial lines renewal price up 6.7%, and 6.2% for the year.  Our granular pricing strategy and sophisticated underwriting, as well as our strong agency relationships, has given us an edge over the past several years that continues to pay off in strong results.

“Investment income for the quarter was $26 million, after tax, compared to $23 million in the fourth quarter 2011, due to improved performance in the alternative investment portfolio.  For the year, investment income, after tax, was $100 million.  We continue to manage our investment income through a very low interest rate environment without unduly adding more credit or duration risk,” concluded Murphy.

Fourth Quarter Highlights 2012 Compared to Fourth Quarter 2011

    Net income of $1.3 million, or $0.02 per diluted share, compared to $18.0 million, or $0.33 in 2011
    Operating loss1 of $2.3 million, or $0.04 per diluted share, compared to operating income1 of $20.4 million, or $0.37 in 2011
    Combined ratio: GAAP: 109.0% compared to 97.9% in 2011; Statutory: 110.4% compared to 98.7% in 2011
    Combined ratio excluding the impact of Hurricane Sandy2: GAAP 99.3%; Statutory 100.6%
    Favorable prior year statutory reserve development on our casualty lines totaled $2 million compared to $10 million in 2011
    Total net premiums written (NPW) were $370.6 million, which were reduced by the reinstatement premium related to Hurricane Sandy of $8.6 million
        Standard Commercial Lines NPW were $273.2 million
        Standard Personal Lines NPW were $68.1 million
        Excess and Surplus Lines NPW were $29.4 million
    Catastrophe losses were $33.8 million, after tax, including $30.3 million for Hurricane Sandy
    Gross pre-tax catastrophe losses from Hurricane Sandy were $136 million
    Flood net income of $12.0 million, after tax, including $10.1 million for Hurricane Sandy
    Investment income, after tax, was $26.3 million
    Net realized gains, after tax, totaled $3.6 million

Year-End Highlights for 2012 Compared to Year-End 2011

•     Net income was $38.0 million, or $0.68 per diluted share, compared to $22.0 million, or $0.40 in 2011
•     Operating income1 was $32.1 million, or $0.58 per diluted share, compared to $21.2 million, or $0.38 in 2011
•     Combined ratio: GAAP: 104.0% compared to 107.2% in 2011; Statutory: 103.5% compared to 106.7% in 2011
•     Combined ratio excluding the impact of Hurricane Sandy2: GAAP 101.5%; Statutory 101.0%
•     Favorable prior year statutory reserve development on our casualty lines totaled $17 million compared to $29 million in 2011
•     Total NPW were $1,666.9 million, which were reduced by the reinstatement premium related to Hurricane Sandy of $8.6 million
•         Standard Commercial Lines NPW were $1,263.7 million
•         Standard Personal Lines NPW were $289.9 million
•         Excess and Surplus Lines NPW were $113.3 million
•     Catastrophe losses were $64.1 million, after tax, including $30.3 million for Hurricane Sandy
•     Flood net income of $19.1 million, after tax, including $10.1 million for Hurricane Sandy
•     Investment income, after tax, was $100.3 million
•     Net realized gains, after tax, totaled $5.8 million for the year

Balance Sheet and Guidance
At December 31, 2012, Selective’s assets were $6.8 billion, up 20% over prior year primarily due to reinsurance recoverables of $1.4 billion, compared with $0.6 billion in 2011, and $4.3 billion in the company’s investment portfolio, which increased 5% compared to December 31, 2011.

Stockholders’ equity was up 3% for the year to $1.1 billion and book value per share increased 2% to $19.77.  Statutory surplus was down 1% in 2012 to $1.1 billion.

Selective’s Board of Directors declared a $0.13 per share quarterly cash dividend on common stock payable March 1, 2013 to stockholders of record as of February 15, 2013.

Selective expects to generate a 2013 full year statutory combined ratio, excluding catastrophes, of 96.0%.  We currently estimate catastrophe losses will add three points to that ratio.  In addition, investment income will be down slightly to $90-$95 million.  Anticipated weighted average shares at year end 2013 of 56 million.

The supplemental investor packet, including financial information that is not part of this press release, is available on the Investor Relations’ page of Selective’s public website at www.selective.com.  Selective’s quarterly analyst conference call will be simulcast at 8:30 a.m. ET, on February 1, 2013 at www.selective.com.  The webcast will be available for rebroadcast until the close of business on March 1, 2013.

About Selective Insurance Group, Inc.
Selective Insurance Group, Inc. is a holding company for ten property and casualty insurance companies rated “A” (Excellent) by A.M. Best.  Through independent agents, the insurance companies offer primary and alternative market insurance for commercial and personal risks, and flood insurance underwritten by the National Flood Insurance Program.  Selective maintains a website at www.selective.com.

Forward-Looking Statements
In this press release, Selective and its management discuss and make statements based on currently available information regarding their intentions, beliefs, current expectations and projections regarding Selective’s future operations and performance.

Certain statements in this report, including information incorporated by reference, are “forward-looking statements” as that term is defined in the Private Securities Litigation Reform Act of 1995 (“PSLRA”).  The PSLRA provides a safe harbor under the Securities Act of 1933 and the Securities Exchange Act of 1934 for forward-looking statements.  These statements relate to our intentions, beliefs, projections, estimations or forecasts of future events or our future financial performance and involve known and unknown risks, uncertainties and other factors that may cause our or our industry’s actual results, levels of activity, or performance to be materially different from those expressed or implied by the forward-looking statements.  In some cases, you can identify forward-looking statements by use of words such as “may,” “will,” “could,” “would,” “should,” “expect,” “plan,” “anticipate,” “target,” “project,” “intend,” “believe,” “estimate,” “predict,” “potential,” “pro forma,” “seek,” “likely” or “continue” or other comparable terminology.  These statements are only predictions, and we can give no assurance that such expectations will prove to be correct.  We undertake no obligation, other than as may be required under the federal securities laws, to publicly update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.

Factors that could cause our actual results to differ materially from those projected, forecasted or estimated by us in forward-looking statements, include, but are not limited to:

•     difficult conditions in global capital markets and the economy;
•     deterioration in the public debt and equity markets and private investment marketplace that could lead to investment losses and fluctuations in interest rates;
•     ratings downgrades could affect investment values and therefore statutory surplus;
•     the adequacy of our loss reserves and loss expense reserves;
•     the frequency and severity of natural and man-made catastrophic events, including, but not limited to, hurricanes, tornadoes, windstorms, earthquakes, hail, terrorism, explosions, severe winter weather, floods and fires;
•     adverse market, governmental, regulatory, legal or judicial conditions or actions;
•     the concentration of our business in the Eastern Region;
•     the cost and availability of reinsurance;
•     our ability to collect on reinsurance and the solvency of our reinsurers;
•     uncertainties related to insurance premium rate increases and business retention;
•     changes in insurance regulations that impact our ability to write and/or cease writing insurance policies in one or more states, particularly changes in New Jersey automobile insurance laws and regulations;
•     recent federal financial regulatory reform provisions that could pose certain risks to our operations;
•     our ability to maintain favorable ratings from rating agencies, including A.M. Best, Standard & Poor’s, Moody’s and Fitch;
•     our entry into new markets and businesses; and
•     other risks and uncertainties we identify in filings with the United States Securities and Exchange Commission, including, but not limited to, our Annual Report on Form 10-K and other periodic reports.

These risk factors may not be exhaustive.  We operate in a continually changing business environment, and new risk factors emerge from time-to-time.  We can neither predict such new risk factors nor can we assess the impact, if any, of such new risk factors on our businesses or the extent to which any factor or combination of factors may cause actual results to differ materially from those expressed or implied in any forward-looking statements in this report.  In light of these risks, uncertainties and assumptions, the forward-looking events discussed in this report might not occur.

Selective’s SEC filings can be accessed through the Investor Relations’ section of Selective’s website, www.selective.com, or through the SEC’s EDGAR Database at www.sec.gov (Selective EDGAR CIK No. 0000230557).

1 Operating income differs from net income by the exclusion of realized gains or losses on investments and the results of discontinued operations. It is used as an important financial measure by management, analysts and investors, because the realization of investment gains and losses on sales in any given period is largely discretionary as to timing. In addition, these investment gains and losses, as well as other-than-temporary investment impairments that are charged to earnings and the results of discontinued operations, could distort the analysis of trends. Operating income is not intended as a substitute for net income prepared in accordance with U.S. generally accepted accounting principles (GAAP). A reconciliation of operating income to net income is provided in the GAAP Highlights and Reconciliation of Non-GAAP Measures to Comparable GAAP Measures. Statutory data is prepared in accordance with statutory accounting rules as defined by the National Association of Insurance Commissioners Accounting Practices and Procedures Manual and, therefore, is not reconciled to GAAP.

2 The Hurricane Sandy impact includes catastrophe losses, reinstatement premium on the catastrophe reinsurance program and the flood claims handling fees generated as a result of Hurricane Sandy. cheap auto insurance

Source http://www.dailymarkets.com

READ MORE - Selective Insurance Group financial results ended December 31, 2012

Zacks downgraded Rating Stock of Meadowbrook Insurance Group

Zacks downgraded Rating Stock of Meadowbrook Insurance Group : Zacks downgraded shares of Meadowbrook Insurance Group (NYSE: MIG) from a neutral rating to an underperform rating in a report issued on Thursday. They currently have $6.00 target price on the stock.

Meadowbrook Insurance Group traded down 0.95% on Thursday, hitting $6.27. Meadowbrook Insurance Group has a 1-year low of $5.21 and a 1-year high of $10.19. The stock’s 50-day moving average is currently $5.98. The company’s market cap is $312.1 million.

Meadowbrook Insurance Group, Inc. (Meadowbrook) is a specialty focused commercial insurance underwriter and insurance administration services company. individual health insurance

To view Zacks’ full report, visit www.zacks.com

READ MORE - Zacks downgraded Rating Stock of Meadowbrook Insurance Group

Insurance claims from the latest Queensland floods

best insurance stock - Insurance claims from the latest Queensland floods have already topped $27 million, as river levels continue to rise in large parts of the state. As of Monday morning, "just shy of 3000 claims" had been lodged relating to losses in Queensland, said Campbell Fuller, general manager for communications at the the Insurance Council of Australia.

The total claimed losses are likely to be "well north of $40 million", he said. "Rivers are still rising across south-eastern Queensland," he said, adding that flood waters were yet to peak at Ipswich and much of Bundaberg remained underwater.

Heavy rain is also falling over much of New South Wales as the remnants of former tropical cyclone Oswald move south.

The Bureau of Meteorology has posted a severe weather warning for destructive winds, heavy rain and abnormally high tides over a wide area stretching from the Illawarra to the Northern Rivers region.

The council yesterday declared a catastrophe for large parts of Queensland affected by storms and inundation. The declaration means insurers have set up a taskforce to co-ordinate their response to recovery efforts.

The floods are the third catastrophe declared so far this year following severe bushfires in south-eastern Tasmania and northern NSW. The council has declared six catastrophes in Queensland for flooding and cyclone damage since 2010, with losses reaching almost $4 billion.

Insurers and re-insurers have singled out water - either too much or too little of it - as the main risk from extreme weather in Australia.

The council, in particular, has been calling for increased spending on efforts to limit the damage from flooding, such as the construction of flood levees around flood-prone towns.

Despite those calls, Mr Fuller said, there had not been much money spent in Queensland since the last big floods there in 2011.

"I'm unaware of any substantive mitigation that has taken place over the past two years," he said.

The ICA has set up a disaster hotline on 1800 734 621 to help people identify their insurer and their coverage, particularly for those unable to access their own records because of the floods Source http://www.watoday.com.au rental car insurance

READ MORE - Insurance claims from the latest Queensland floods

The negative side of bank mortgage insurance

The negative side of bank mortgage insurance : Mortgage life insurance isn’t very popular and it has more than a few detractors. For one thing, the premium payments typically remain constant even though your death benefit drops. What seemed like a bargain when you first took the insurance, and your mortgage, becomes less so as the loan balance and the insurance death benefit drop.

Another concern is that the insurance benefit will be payable to your lender upon your death, not to your dependents. That limits the desirability of having this type of insurance.

While it may be good to have your mortgage paid off upon your death, your dependents may have other, more pressing concerns. They will not be able to address those concerns with a mortgage life insurance policy. read How does mortgage life insurance work

Is it worth having?

For most people mortgage life insurance shouldn’t be necessary. You can instead take the largest term life insurance policy you can afford and use part of the proceeds to payoff the mortgage on your home at your death, if that’s what you and your survivors agree upon. However your dependents will not be locked into paying off the mortgage, should they decide against doing so.

A straight term life insurance policy give them the flexibility to allocate the money wherever it’s most needed. Maybe that’s the mortgage, and maybe it’s not, but they’ll have that option.

If you don’t have a whole lot of confidence that your survivors will allocate the life insurance proceeds wisely, then mortgage life insurance can be a consideration. Since the proceeds will be allocated directly to payoff the mortgage event of your death, you will be able to know that it will happen as you wish.

Your survivors might still blow through other insurance proceeds, but at least you can know that the mortgage on a house will be paid for. car insurance quotes online

READ MORE - The negative side of bank mortgage insurance

How does mortgage life insurance work

best insurance stock - How does mortgage life insurance work : The best way to think of mortgage life insurance is that it is term life insurance with a single purpose: to payoff your mortgage in the event of your death.

A mortgage life insurance policy is tied to your mortgage in almost every way. At the time that you take your mortgage, whether on a purchase or refinance, the death benefit on insurance policy is set up to match the amount of your mortgage loan.

However, the death benefit will decline as your mortgage is paid down. Once your mortgage is paid off, the life insurance goes away.

In the event of your death, the proceeds of the policy will go right to your lender to payoff the mortgage on your house.

As to the specifics, there are variations depending on which insurance company you use as well as the particulars in your situation. It’s also important to remember that while a lender may recommend that you get mortgage life insurance, you are not required to get it. It is strictly optional coverage. health insurance california

READ MORE - How does mortgage life insurance work

Selective Insurance Group SIGI Stock rating price target by RBC Capital

best insurance stock - Selective Insurance Group SIGI Stock rating price target by RBC Capital : Selective Insurance Group (NASDAQ: SIGI) had its target price upped by RBC Capital from $20.00 to $23.00 in a report released on Monday. RBC Capital currently has a sector perform rating on the stock.

Separately, analysts at Zacks upgraded shares of Selective Insurance Group from a neutral rating to an outperform rating in a research note to investors on Tuesday, January 8th. They now have a $21.50 price target on the stock.

One analyst has rated the stock with a buy rating, and six have assigned a hold rating to the stock. The company currently has an average rating of hold and an average target price of $20.40.

Selective Insurance Group traded down 0.77% on Monday, hitting $21.82. Selective Insurance Group has a 52-week low of $16.22 and a 52-week high of $22.08. The stock’s 50-day moving average is currently $19.85. The company has a market cap of $1.200 billion and a price-to-earnings ratio of 23.17.

Selective Insurance Group last announced its earnings results on Thursday, January 31st. The company reported ($0.04) earnings per share for the quarter, beating the analysts’ consensus estimate of ($0.17) by $0.13. The company had revenue of $449.00 million for the quarter, compared to the consensus estimate of $394.86 million. During the same quarter last year, the company posted $0.33 earnings per share. Selective Insurance Group’s revenue was up 12.1% compared to the same quarter last year. On average, analysts predict that Selective Insurance Group will post $1.51 earnings per share for the current fiscal year.

The company also recently declared a quarterly dividend, which is scheduled for Friday, March 1st. Stockholders of record on Friday, February 15th will be given a dividend of $0.13 per share. This represents a $0.52 dividend on an annualized basis and a yield of 2.36%. The ex-dividend date of this dividend is Wednesday, February 13th.

Selective Insurance Group, Inc. is a holding company of seven insurance subsidiaries. The Company, through its subsidiaries, offers property and casualty insurance products and services in the East and Midwest of the United States. direct auto insurance

READ MORE - Selective Insurance Group SIGI Stock rating price target by RBC Capital