- Best Insurance stock ; Insurance Claims fires in australia Rise, fires in Tasmania, New South Wales and Victoria, Australian Insurance Claims summer 2013 : The Australian summer had been made more agonizing by the bushfires. The country’s continued rising temperatures had been the crux of insurance companies as incidence claims have now surged by more than $42 million and yet more still likely to come in as the blazes unexpectedly occur with the dry weather.The figure, according to ABC News, was culled from claims filed by residents from Tasmania, where wildfires destroyed more than 100 homes over the weekend. As of press time Tuesday, firefighters are still trying to contain some 40 blazes across the southern island state.As of 9:00am (AEDT) on Tuesday, more than 410 policy holders had filed claims before insurance companies in the state’s south.The ongoing fires in Tasmania, plus those in New South Wales and Victoria, are expected to inflate the calculation of property damage.“We do stress though this is early days – we would expect many more claims to be lodged in the coming week as property owners return to their communities and get better ideas of the damage,” Campbell Fuller from the Insurance Council of Australia told ABC News.We would stress though that people who are affected by the bushfires should contact their insurer as soon as they can and get that claims process rolling.”However, he told policy holders to be patient as assessors will only be able to enter fire affected areas once they have been declared safe.“We hope that the actions of firefighters will help protect lives and properties, but experience shows us that bushfires and grass fires are unpredictable and cause widespread damage,” Rob Whelan, council’s chief executive, said in a statement.
- Beazley stock rating prices target : Nomura reissued their buy rating on shares of Beazley (LON: BEZ) in a research report released on Thursday morning. Nomura currently has a $3.42 (212 GBX) price target on the stock.
BEZ has been the subject of a number of other recent research reports. Analysts at Canaccord Genuity reiterated a hold rating on shares of Beazley in a research note to investors on Friday, November 23rd. They now have a $2.95 price target on the stock. Separately, analysts at JPMorgan Chase reiterated a neutral rating on shares of Beazley in a research note to investors on Thursday, November 22nd. They now have a $2.82 price target on the stock. Finally, analysts at JPMorgan Chase reiterated a neutral rating on shares of Beazley in a research note to investors on Friday, October 19th.
Shares of Beazley opened at 181.90 on Thursday. Beazley has a one year low of GBX 130.60 and a one year high of GBX 184.00. The stock’s 50-day moving average is currently GBX 167.6. The company’s market cap is £921.1 million.
About Beazley plcBeazley plc is the parent company of specialist insurance businesses. The Company operates in six segments: Life, accident and health segment, which underwrites life, personal accident and sports risks; Marine segment, which underwrites a range of marine classes, including hull, energy, cargo and specie and war risks; Political risks and contingency segment, which underwrites terrorism, political violence, expropriation and credit risks, as well as contingency and risks associated with contract frustration; Property segment, which underwrites commercial, homeowners’ and engineering property insurance on a worldwide basis; Reinsurance segment specializes in writing property catastrophe, property per risk, aggregate excess of loss and pro-rata business, and Specialty lines segment, which underwrites professional lines, employment practices liability, specialty liability, directors’ and officers’ liability and healthcare.Beazley BEZ Stock Rating Prices Target 2013, prediction Shares of Beazley 2013, Beazley shares rating Analysts JPMorgan Chase, Beazley stock research 2013, Beazley shares price target 2013
- Life insurance serves as a protection if the insured dies. For example, if I was insured by an insurance product and die tomorrow, then the insurance companies will provide insurance money to people who I left behind.
The purpose is to take life insurance to cover the potential loss of income. If I as the backbone of the family died, the family I leave behind will lose sources of income. If I follow the life insurance program, so that my family would leave the insurance money that can be used as a substitute for the lost revenue, at least for a while.
Actually the rule choosing life insurance products are not much different from choosing another product:
* No purchase life insurance if not required; and
* If you need life insurance, buy life insurance that provides adequate protection.
From my brief survey to several friends and family members, virtually none of them are taking life insurance in accordance with the rules above. Most buying life insurance when not needed, and not take life insurance with a sufficient sum assured if needed.
Do not buy life insurance if not required
The main factors are buying life insurance dependents and obligations (e.g. debt). If someone does not have both so concerned not need life insurance.
Small children (or even newborn) do not need life insurance protection because it does not have any dependents. If the child dies, the family will grieve, but it will not adversely affect the financial condition of the family. On the contrary, precisely the family finances would improve because the number of dependents decreases. Buy life insurance child at this stage will only give free money to the insurance company.
People who already have money can become not need life insurance if you are concerned do not have dependents and do not have obligations. People without dependents and no liability to third parties do not need life insurance because if the person dies, no one feels lost revenue.
If the person is on the take-credit, consumer credit, especially now that the question already has an obligation. Thus, it is time he takes the life insurance (if credit is not equipped with credit insurance). If not, then he has the potential to incriminate relatives if something bad happened to her.
Parents of all children are independent and no longer have an obligation to the other party does not need life insurance. If the respective dies, her children will grieve, but no one will ever feel financially disadvantaged. In addition, if the parents are managing the funds properly, then the concerned should already have savings or investment return far greater value than the sum assured of life insurance.
If the parents are already having enough savings, he could cancel his life insurance before the time if the perceived value of insurance coverage is not proportional to the amount of savings. If he dies before the children independently, his children will still be a legacy in the form of these deposits.
If it does not have dependents and no longer in productive age, the elderly person needs life insurance is not, but the liquid funds in large numbers. Furthermore, in these conditions required that the product is exactly the opposite of life insurance, annuities i.e. If the life insurance provides protection if the insured dies too soon, annuities serve to provide protection if the insured is living too long. Pay life insurance premiums at this time could be a “financial disaster” for the required product is exactly the opposite of life insurance.
- AIG potential for a lawsuit : American International Group Inc, the insurer rescued by the U.S. government in 2008, drew angry condemnation from lawmakers on Tuesday after saying it may join a lawsuit that alleges the bailout terms were unfair.
A leading congressional Democrat called criticism of the deal’s terms “utterly ridiculous,” and former New York Attorney General Eliot Spitzer – who probed AIG when he was in office – called the prospect of a suit “insulting to the public.” The White House declined to comment on the potential for a lawsuit but defended the $182 billion bailout.Meanwhile, newly elected Senator Elizabeth Warren, feared by Wall Street as a potential thorn in its side on the Senate Banking Committee, called the suit talk “outrageous” and said the company should not “bite the hand that fed them for helping them out in a crisis.”The move would be something of a shock, given that AIG just launched a high-profile television ad campaign called “Thank you, America,” in which it offers the public its gratitude for the bailout. On Tuesday, the company promoted the ads on Twitter, even as it came under fire over the lawsuit.Securities experts said AIG’s board needs to consider the matter as part of its fiduciary duty, but also said it was unlikely they will actually join.AIG said its board would meet Wednesday to discuss joining a lawsuit filed against the government by the insurer’s former chief executive, Maurice “Hank” Greenberg.Greenberg, whose Starr International owned 12 percent of AIG before its near-collapse, has accused the New York Fed of using the rescue to bail out Wall Street banks at the expense of shareholders, and of being a “loan shark” by charging exorbitant interest of 14.5 percent on the initial loan.“If AIG enters this suit it would be the equivalent of a patient suing their doctor for saving their life,” said Mark Williams, a former Federal Reserve bank examiner who teaches in the finance department at Boston University.BUSINESS JUDGMENTA federal judge in Manhattan already dismissed one of Greenberg’s suits in November; it is being appealed.In his ruling dated November 19, Judge Paul Engelmayer said AIG had notified the court it would hold a board meeting January 9 to discuss joining one of the suits, with a decision expected by the end of the month.A separate suit under different legal theories is still pending in the U.S. Court of Federal Claims in Washington.In a mid-December hearing in the Washington case, a lawyer for AIG told the court that all sides had already made three written submissions to the board and that the board would spend half the day on January 9 discussing the suit.One expert in securities law said he doubted AIG would ultimately decide to join the case.“All the fiduciary standards that guide board behavior would warn against joining the suit,” said James Cox, a professor of corporate and securities law at Duke University School of Law in Durham, North Carolina. “I see nothing to be gained by AIG piling on, and I see a lot of downside risk.”An AIG spokesman declined to comment beyond confirming that the board would meet as planned. The deliberations were first reported by the New York Times.
‘CHOICE WAS BANKRUPTCY’The New York Fed said Tuesday there was no merit to any allegations that the bank harmed AIG.“AIG’s board of directors had an alternative choice to borrowing from the Federal Reserve and that choice was bankruptcy. Bankruptcy would have left all AIG shareholders with worthless stock,” a representative of the bank said Tuesday.Elijah Cummings, the ranking Democrat on the House Committee on Oversight and Government Reform, acknowledged that AIG’s board has a fiduciary duty to consider the lawsuit. But he also said the company had a choice in 2008 and picked what it considered the better option.“The idea that AIG might sue the government is an unbelievable insult to our nation’s taxpayers, who cleaned up the mess this firm created,” he said in a statement.Cummings’ former colleague, the recently-retired Barney Frank, said he was “stunned” by the news and added that AIG was a fully willing participant in the rescue.“There was not the hint of a suggestion of any coercion. They did this very voluntarily, very gratefully. And if the company were now to go around and join this lawsuit, that would be outrageous,” Frank said in an interview.The U.S. Treasury declined to comment. It completed its final sale of AIG stock in mid-December, concluding the bailout with what Treasury called a positive return of $22.7 billion.AIG shares fell 0.8 percent to close at $35.65. After losing half its value in 2011, the stock rose more than 52 percent in 2012, tripling the gains of the broader S&P insurance index.
GREENBERG ROLLS ONIf AIG decides to join Greenberg’s suit, it would be another legal victory for the man who once ran the world’s largest insurance company but was ultimately forced to leave under a cloud of scandal.On Monday, a federal judge ruled that New York Attorney General Eric Schneiderman does not have standing to object to a $115 million settlement between AIG shareholders and the former chief executive. Schneiderman wanted the deal rejected.The judge’s ruling apparently clears the way for approval of the deal, whose broad releases would preclude New York from pursuing its high-profile 2005 fraud case against Greenberg, according to court papers.The state case, brought by Spitzer, accuses Greenberg and former Chief Financial Officer Howard Smith of using sham transactions to mask the company’s financial position.The claims, which Greenberg and Smith have fought through three New York attorneys general, await an appeal at the state’s highest court.
- Fitch Ratings Etiqa Insurance Berhad financial strength rating at ‘A’ : Fitch Ratings has affirmed Malaysia-based Etiqa Insurance Berhad’s insurer financial strength rating at ‘A’ with stable outlook. Fitch says the rating reflects EIB’s broad distribution coverage, strong premium growth, a track record of sound operating performance and its status as a core member within Maybank Ageas Holdings Berhad (MAHB).The rating recognises the company’s solid risk-based capitalisation and strong liquidity position despite likely higher financial leverage after the proposed issue of subordinated debt in April 2013.Fitch says EIB continues to maintain strong premium growth momentum through its bancassuance partnership with Malayan Banking Berhad (Maybank) and through its wide agency coverage across Malaysia.Premium written from general and life insurance operations grew 18% and 88%, respectively, for the 12 months ended June 2012. Motor insurance and marine, aviation and transit (MAT) businesses are key growth drivers of EIB’s general insurance’s portfolio.Business quality of the company’s non-life insurance portfolio remains sound although its combined ratio deteriorated to 94.3% for the 12 months ended June 2012 from 91.3% over the same period in 2011. Mortality gain and investment return contributed favourably to the operating profitability of EIB’s life insurance business.EIB has maintained capital strength to support ongoing business growth and to absorb potential asset volatility. Its regulatory risk-based capitalisation was about 247% at end-June 2012, well in excess of the statutory minimum benchmark of 130%.In view of EIB’s prevailing operating margin (3.1% pre-tax return on assets for the 12 months ended June 2012), Fitch believes EIB’s financial flexibility will remain sound after the planned subordinated debt issue. Fitch expects MAHB’s financial leverage to rise above 10% post debt issue from zero at end-June 2012.With more than 30% of its general insurance and shareholders’ investments allocated to cash and deposits at end-June 2012, EIB has strong liquidity to meet claims from insurance liabilities.Liquid assets (including structured deposits) accounted for about 2.55x of its general insurance‘s net technical reserves at end-June 2012.Partly offsetting these positive attributes includes the market-wide adverse claims experience of the third-party motor insurance business and capital re-allocation within the operating entities of MAHB due to a change in Malaysian takaful regulatory capital regime.Additionally, EIB has placed greater emphasis on regular premium life products to strengthen its growth sustainability as a significant portion of its premiums still comes from single premium investment-linked products which are sensitive to equity market performance.( Story provided by StockMarketWire.com )
- 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.
- AlphaCat 2013 Ltd; Bermuda based insurance and reinsurance group Validus Holdings has announced the successful raising of $404.4m of capital, largely from third-party investor sources, by its investment and asset management subsidiary AlphaCat Managers Ltd. The third-party capital injection is to be put to be invested in collateralized reinsurance and insurance-linked securities (ILS) by capitalising a new sidecar and adding capacity to its ILS funds.
The news underscores Validus’ commitment to the third-party asset management strategy as a source of underwriting capital. Its CEO Ed Noonan said back in July that with over $1 billion under management Validus felt as though it was just scratching the surface in this segment of their business.The new sidecar from Validus is AlphaCat 2013 Ltd., the latest in the AlphaCat series, a special purpose vehicle formed to invest in collateralized property catastrophe reinsurance and retrocession on a worldwide basis. AlphaCat 2013 launches with $230m of capital, with third-party investors having contributed $185m and Validus providing the balance.Validus has also raised $219.4m of third-party capital as subscriptions for its ILS funds. The AlphaCat ILS funds invest in instruments which provide returns across the property catastrophe reinsurance, retrocession, catastrophe bond and ILS market.Ed Noonan, Chairman and Chief Executive Officer of Validus said; “AlphaCat 2013 and the third party investment in the AlphaCat ILS funds reflect the continued importance of Validus’ franchise in the global property catastrophe reinsurance market. We are pleased with the significant level of investor support which reflects on the scale of Validus’ operations, the skill of our underwriting team and the AlphaCat infrastructure we have developed to manage third-party capital.”Validus has put significant time and efforts into its AlphaCat arm, which enables it to underwrite collateralized reinsurance business largely using external investors capital, and it clearly see it as a growing portion of its overall operations. As more focus is placed on this growing area of the reinsurance market Validus, as one of the largest reinsurance groups, is sure to continue to grow the contribution third-party capital makes to its underwriting and profits.
- Best Insurance Stock – UIHC Underwritten public offering on common stock : United Insurance Holdings Corp. (NASDAQ: UIHC) (the Company), a property and casualty insurance holding company, today announced that in connection with its previously announced underwritten public offering of 5,300,075 shares of its common stock that closed on December 14, 2012,the underwriters exercised in full their option to purchase an additional 750,000 shares of newly issued common stock from the Company at a public offering price of $5.15 per share. The Company expects to receive aggregate net proceeds from the sale of the additional shares of approximately $3.7 million after deducting underwriting discounts and commissions and estimated offering expenses, bringing the total net proceeds to the Company from the offering to approximately $27.6 million. Subject to customary closing conditions, the closing of the sale of the additional shares is expected to occur on January 8, 2013.Raymond James & Associates, Inc. is serving as book-running manager of the offering and Sterne, Agee & Leach, Inc. is serving as co-manager. A registration statement relating to this offering was declared effective by the Securities and Exchange Commission on December 10, 2012. This offering is being made only by means of a prospectus, copies of which may be obtained from Raymond James & Associates, Inc., 880 Carillon Parkway, St. Petersburg, Florida 33716, (800)-248-8863.This press release shall not constitute an offer to sell or the solicitation of an offer to buy, nor shall there be any sale of these securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.Forward Looking StatementsCertain of the statements made in this press release are forward-looking statements that are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. These forward-looking statements include, among others, statements relating to United’s expectations regarding the closing of the sale of the additional shares in the public offering. Actual results or developments may differ materially from those projected or implied in these forward-looking statements. Factors that may cause such a difference include, without limitation, risks and uncertainties related to market and other conditions, the satisfaction of customary closing conditions related to the sale of additional shares in the public offering and the impact of general economic, industry or political conditions in the United States or internationally. You should not place undue reliance on these forward-looking statements, which apply only as of the date of this press release. Additional risks and uncertainties relating to the proposed offering, United, and its business can be found under the heading “Risk Factors” in United’s Annual Report on Form 10-K for the year ended December 31, 2011, the prospectus relating to the offering, and other documents filed with the SEC. United does not undertake any obligation to update forward-looking statements and expressly disclaims any obligation or undertaking to release publicly any updates or revisions to any forward-looking statements contained herein to reflect any change in its expectations with regard thereto or any change in events, conditions or circumstances on which any such statements are based.About United Insurance Holdings Corp.Founded in 1999, United Property & Casualty Insurance Company, a subsidiary of United Insurance Holdings Corp., writes and services homeowners insurance in Florida, South Carolina, Massachusetts, and Rhode Island and is licensed to write in North Carolina. From its headquarters in St. Petersburg, United’s team of dedicated professionals manages a completely integrated insurance company, including sales, underwriting, customer service and claims. The Company distributes its homeowners, dwelling fire and flood products through many agency groups and conducts business through four wholly-owned subsidiaries. Homeowners insurance constitutes the majority of United’s premiums and policies.
- best insurance stock – Nigeria insurance market expected 2017 : Nigeria, Africa’s most populous nation, plans to more than triple the value of its insurance market in four years by improving the reputation of the industry, Insurance Commissioner Daniel Fola said.
“Our people don’t trust insurance,” he said in an interview today in Dubai. “We’ve done a considerable amount of housekeeping to make sure the companies respect the rules.”The value of insurance contracts should rise to about 1 trillion naira ($6.4 billion) in 2017, about 3 percent of gross domestic product, from 300 billion naira now, or less than 1 percent of GDP, he said. Penetration should increase to 22.5 percent of the insurable population in four years from 10 percent currently, Fola said.Compulsory motor-vehicle insurance, which makes up most contracts now, should remain at about 10 percent by 2017, while life insurance should constitute 7 percent, general business insurance 3 percent and petroleum companies’ insurance 2.5 percent, he said.Oil and gas businesses will continue to contract international companies to insure their Nigerian operations as the capacity of local insurers is limited, Fola said. As Africa’s largest oil producer, Nigeria produced about 1.9 million barrels of crude a day in December, according to Bloomberg data.The Bloomberg Nigerian Stock Exchange insurance index, a measure of the 10 most liquid insurers on the Lagos-based bourse, has gained 11 percent so far this year, outpacing a 5.8 percent rise in the All Share Index. (NGSEINDX) Continental Reinsurance Plc (CONTINSU) shares gained 4.9 percent today, while Aiico Insurance Plc (AIICO) was up 3.9 percent.
- 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