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Insurance News

Insurance news continually updated from thousands of sources around the net.

1 hr ago | Bloomberg

MBIA Rises in Europe After Agreeing to Reinsure $184 Billion of Muni Debt

MBIA Inc. rose in Europe after the company agreed to reinsure $184 billion in municipal bonds for Financial Guaranty Insurance Co.

Comment?

Related Topix: Armonk, NY, Warren Buffett, Construction, Berkshire Hathaway, Investment Services, Financial Markets

5 hrs ago | Seeking Alpha

MBIA Reinsures $184 Billion from FGIC's Public Finance Book

MBIA announced Wednesday that it has reached an agreement with Muni Bond insurer Financial Guaranty Insurance Company [FGIC] to reinsure $184 billion principal amount of public finance bonds insured by FGIC.

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Related Topix: MBIA

9 hrs ago | 6 ABC

Renters insurance: Why it's essential

The population of renters across the country is growing, edged up in part by a slumping housing market.

Comment?

Related Topix: Allstate

13 hrs ago | Reuters

Caterpillar sees strong China sales enduring

Caterpillar Inc expects weakness in rich-country economies to persist into 2009 but its sales in China will remain strong, Jim Owens, chairman and chief executive of the U.S. construction and mining equipment ...

Comment?

Related Topix: Manufacturing, Construction, Caterpillar

Wed Aug 27, 2008

Market Watch

MBIA to reinsure $184 bln of FGIC's public bond portfolio

MBIA Insurance Corp. will reinsure U.S. public finance bonds insured by Financial Guaranty Insurance Co.

Comment?

Related Topix: MBIA

Turkish Daily News

Insurance giant off to a fresh start

Zurich Financial Services, which purchased Turkish general insurer TEB Sigorta at the beginning of the year, has finalized a campaign to promote the name change as of yesterday.

Comment?

Bloomberg

Fannie, Freddie Record Biggest Profits on New Mortgages Since Before 1998

The crisis of confidence that sent Fannie Mae and Freddie Mac debt costs to record highs above U.S. Treasuries is also providing the mortgage-finance companies with the biggest profits on new investments since ...

Comment?

Related Topix: Banking, Financial Services, Citigroup, Credit Suisse Group, Financial Markets, Home, Mortgage

Times Online

RBS names three heavyweights in board shake-up

Royal Bank of Scotland has appointed the deputy chairman at Northern Rock, the troubled nationalised lender, as one of three new non-executive directors in a move aimed at pacifying investors.

Comment?

Related Topix: Financial Services, Banking, Prudential Financial

Philly.com

Man played cop, raped them, women testify

Salvatore Longo preyed on prostitutes by picking them up in his car, telling them he was a cop, then forcing them to commit sexual acts, according to court testimony yesterday.

Comment?

Related Topix: Philadelphia Consolidated Holding, Philadelphia, PA, Violent Crime

Tue Aug 26, 2008

News.com.au

Retail: Westfield profit down on property values

WESTFIELD Group, the world's biggest listed shopping centre owner, says first-half net profit declined 34.9 per cent to $1.29 billion as the value of its properties dropped on the credit crunch.

Comment?

Digital Producer

WGA Chosen Best Retail Insurance Broker

Business Insurance's Annual Readers Choice Awards recognizes the best overall commercial insurance industry companies and lets subscribers weigh in on which companies they think are the leaders in service, ...

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TheNewsTribune.com

Credit market crisis continues - treasuries rise, financial stocks fall

Treasuries rose Monday on speculation that credit-market turmoil may be widening.

Comment?

Related Topix: American International Group, Investment Banking, Financial Services, Business News

Business Insurance

Swiss Re estimates costs to deal with climate change

DAVOS, Switzerland-New forms of private-public partnerships are needed, particularly for developing nations, to deal with risks and costs related to climate change, Swiss Reinsurance Co.'s chairman said in a ...

Comment?

PrimeNewswire

PMA Capital to Present At the Keefe, Bruyette & Woods, Inc. Annual Insurance Conference in New York

BLUE BELL, Pa., Aug. 25, 2008 -- PMA Capital Corporation today announced that Vincent Donnelly, Chief Executive Officer, and William Hitselberger, Chief Financial Officer, are scheduled to present at the ...

Comment?

Related Topix: Investment Banking, Financial Services, New York Metro

Insurance News Net

Insure.com: 12 Things You Don't Know About Car Insurance That Could Cost YouLoading...

PR Newswire Source: PR Newswire Wordcount: 1104 DARIEN, Ill. , Aug. 25 /PRNewswire-FirstCall/ -- What you don't know about your car insurance policy could be draining your wallet right now.

Comment?

Related Topix: Darien, IL, Quotesmithcom

Mon Aug 25, 2008

Washington Times

AIG, Precision Drilling, AMD are big movers

Stocks that moved substantially or traded heavily Monday on the New York Stock Exchange and Nasdaq Stock Market: NYSE American International Group Inc., down $1.09 at $18.78 Fitch Ratings warned it might cut ...

Comment?

Related Topix: Financial Markets, American International Group, Energy, Oil & Gas, Advanced Micro Devices, Startups

Penticton Herald

Kingsway Financial Services sells York Fire & Casualty Insurance

Kingsway Financial Services Inc. said Monday it has signed a deal to sell York Fire and Casualty Insurance Co.

Comment?

Related Topix: Kingsway Financial Services

Bloomberg

AIG May Report $2.41 Billion Loss on More Writedowns, Credit Suisse Says

American International Group Inc. , the largest U.S. insurer, fell 5.1 percent in New York trading after Credit Suisse Group said the company may post a third- quarter loss of $2.41 billion on mortgage-related ...

Comment?

Related Topix: Credit Suisse Asset Mnagement Income Fund, Financial Services, American International Group, Credit Suisse Group, Home, Mortgage

hosted The Associated Press | The Associated Press

Stocks fall on drop among financials; oil rises

Stocks retreated early Monday as financial stocks fell and oil prices rose. The Dow Jones industrial average fell about 100 points.

Financial stocks like American International Group Inc. declined Monday after Fitch Ratings warned Friday that it might cut its ratings on the insurer.

Light, sweet crude rose 56 cents to $115.15 per barrel on the New York Mercantile Exchange. Stocks staged a big rally Friday after crude tumbled more than $6 a barrel, its biggest percentage drop in more than four years. Investors have welcomed easing energy prices because they hope that will boost consumer spending, which accounts for more than two-thirds of the U.S. economy.

Comment?

Related Topix: American International Group, Financial Markets, Ben Bernanke, Real Estate

Reuters

Asia stocks rebound but risks remain

The U.S. dollar rose broadly on Monday, hitting a two-year high against sterling, with a downtrend in commodity prices intact, leaving investors scurrying to buy back the currency and sparking a rebound in ...

Comment?

Related Topix: Financial Markets, Warren Buffett, Construction, Berkshire Hathaway, Investment Services

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