New User:

-or-
Username:
Password:
Forgot your password?

Stock Market & Financial Investment News

News Breaks
June 12, 2013
06:20 EDTPRU, BRK.A, PNX, GNW, ALL, SLF, HIGNY regulator wants moratorium on "shadow insurance" practice, Reuters reports
The New York State Department of Financial Services called for a national moratorium on certain transactions by life insurance companies that potentially put policyholders and taxpayers at greater risk, according to a regulatory report, reports Reuters. The report said that insurance companies use a method known as "shadow insurance" to shift blocks of insurance policy claims to shell companies, often in states outside where the companies are based, or else offshore, to take advantage of looser reserve and regulatory requirements. Reference Link
News For A;HIG;GNW;PRU;SLF;PNX From The Last 14 Days
Sign up for a free trial to see the rest of the stories you've been missing.
April 20, 2015
16:02 EDTHIGHartford Financial names Kathy Bromage Chief Marketing, Communications Officer
Subscribe for More Information
10:02 EDTGNWPRA Group names Deborah Cassidy as Chief Information Officer
PRA Group (PRAA) announced the appointment of Deborah G. Cassidy as a new member of PRA Group's executive management team. Cassidy will serve as chief information officer for the company. Most recently, Cassidy was senior vice president and business chief information officer for Genworth Financial (GNW).
April 19, 2015
14:47 EDTAMerck submits supplemental biologics license for Keytruda in lung cancer
Subscribe for More Information
April 17, 2015
18:03 EDTGNWGenworth says needs additional $500M-$700M to comply with PMIERs
Genworth Financial responded to the final Private Mortgage Insurer Eligibility Requirements, which were published by the Government Sponsored Enterprises, Fannie Mae and Freddie Mac, in conjunction with the Federal Housing Finance Agency. PMIERs will be used by the GSEs to approve private mortgage insurers that provide mortgage insurance on loans acquired by them. Based on its interpretation of the final PMIERs, the company still estimates $500M-$700M of additional capital will be required to be fully compliant by the effective date. This estimate is based on a number of factors including the company's view of market size and dynamics, planned internal restructuring within U.S. Mortgage Insurance and current affiliate asset valuation. The estimate does not reflect the announcement of changes to GSE fees, the impact of which the company is still evaluating. The final PMIERs lowered the level of required capital from that contained in the draft requirements, primarily benefiting legacy books of business, and also lowering the benefit from captive reinsurance treaties. Additionally, this estimate reflects reductions in affiliate asset valuation due to changes in market value, currency fluctuations and the finalization of the PMIERs. The company still intends to comply with the final PMIERs by the effective date, which is now December 31, 2015. Although the company continues to pursue reinsurance transactions, the lower capital requirements on legacy books of business impact the evaluation of the mix of appropriate sources of capital, which include both reinsurance and holding company cash. As previously disclosed, the company is reviewing a broad range of strategic options that it believes will improve its ability to reduce debt levels, increase capital buffers and improve/grow earnings.
16:23 EDTPRUPrudential enters $4B credit agreement with JPMorgan
Subscribe for More Information
April 15, 2015
10:36 EDTPRU, GNWBofA/Merrill U.S. credit analysts hold an analyst/industry conference call
Subscribe for More Information
April 13, 2015
16:18 EDTAeBay announces executive appointments ahead of PayPal separation
Subscribe for More Information
April 12, 2015
14:23 EDTGNWPE firm JC Flowers said to eye Genworth division, Sky News says
Subscribe for More Information
April 7, 2015
15:13 EDTHIGAmerican Realty appoints Hugh Frater as non-executive chairman
Subscribe for More Information
11:01 EDTPRUPrudential Real Estate Investors acquires 75% stake in CA shopping center
Prudential Real Estate Investors and DJM Capital Partners announced the formation of a joint venture to own and manage Bella Terra Shopping Center in Huntington Beach, Calif., which DJM Capital Partners has owned and operated since 2005. PREI is the real estate investment management and advisory business of Prudential Financial. As part of the transaction, PREI acquired about a 75% stake in the Class-A, 840,909 square-foot outdoor retail center with an affiliate of DJM Capital Partners retaining about a 25% stake. DJM Capital Partnersí prior partner, an institutional investor advised by Sarofim Realty Advisors, sold its interest to PREI.

Sign up for a free trial to see the rest of the stories you've been missing.

I agree to the theflyonthewall.com disclaimer & terms of use