• Allstate,  earnings release

    Allstate corp will conference call february 7 2013

    best insurance stock Allstate corp will conference call february 7 2013 : The Allstate Corp. will conduct a conference call and webcast at 9 a.m. Eastern Time (ET) on Thursday, Feb. 7 to discuss fourth quarter 2012 earnings. According to a release, the company will issue a news release announcing quarterly results at or after 4:05 p.m. ET on Wednesday, Feb. 6. Shortly thereafter, the company plans to post supplementary financial and statistical information online. These materials will be available on Allstate’s website at allstateinvestors.com.

    The investor webcast also can be accessed at allstateinvestors.com. For those unable to participate in the live event, a webcast replay and downloadable MP3 file will be posted on the company’s website shortly after the event ends. The company’s 2012 Annual Report on Form 10-K will be filed by its due date of March 1. The Allstate Corp. is a personal lines insurer. read Allstate Stock outlook 2013-2014
  • Auto Insurance,  automobile insurance,  Car Insurance,  car insurance quotes,  car insurance rates,  free home insurance quote,  health insurance,  house insurance,  insurance adjuster,  insurance information

    General insurance (UK)

    This page sets out the value that actuaries can bring to general insurance.
    General insurance actuaries help provide expertise in three main areas:
    • Reserving (in reserving they apply statistical techniques to assess the likely outcome of general insurance liabilities, typically, and the provisions that are needed for reporting purposes)
    • Rating (the pricing actuary assesses the frequency and average amount of claims to estimate premiums)
    • Capital modelling (for capital modelling the actuary projects both the liability and assets of insurers to assess solvency and future capital needs).
    General insurance or non-life insurance policies, including motor and household policies, provide payments depending on the loss from a particular financial event.  General insurance typically comprises any insurance that is not determined to be life insurance.  It is called property and casualty insurance in the U.S. and non-life insurance in Continental Europe.
    In the UK, General insurance is broadly divided into two areas, personal lines and commercial lines.
    Commercial lines products are usually designed for relatively large legal entities. These would include workers’ comp (employers liability), public liability, product liability, commercial fleet and other general insurance products sold in a relatively standard fashion to many organisations. There are many companies that supply comprehensive commercial insurance packages for a wide range of different industries, including shops, restaurants and hotels.
    Personal lines products are designed to be sold in large quantities. This would include motor insurance, household insurance, pet insurance, creditor insurance and others.
    The London Market provides a focus for many insurance companies and syndicates operating under a Lloyd’s of Londonbanner to write large commercial risks such as supermarkets, football players and other very specific risks. It consists of a number of insurers, reinsurers, [P&I Clubs], brokers and other companies that are typically physically located in the City of London. Business is typically written through specialist brokers. The London Market also participates in personal lines and commercial lines, domestic and foreign, and provides reinsurance.
    The statistics on the changing profile of our membership tell us that around 30% of our general insurance members live and work outside the UK.   As a result, the General Insurance Practice Executive Committee (PEC) is continually looking at what it can do to support our non UK members
  • insurance news

    Insurance Awareness levels of Indonesian society

    Insurance Awareness levels of Indonesian society : Despite the relatively high economic growth rate, which according to predictions of 6.5 percent in 2013, however, the public interest to invest through insurance, it is very minimal. lack of investment from the public is more due to the tendency of people do not understand insurance.


    Indonesian society tends to think that insurance just throw money, if there is no claim, fact, the need for insurance for the community is important, particularly when income per capita increases.

    According to IMF data as of October 2010, the GDP per capita of Indonesia has reached 3000 U.S. dollars. In this condition Indonesia can no longer be called a developing country or emerging market. With a per capita income is growing public awareness of insurance should have increased.

    Each individual should have insurance to protect themselves. Moreover, with the increasing growth segment sizeable middle class in Indonesia is expected capabilities Indonesia also increased public spending, including insurance shopping, the Indonesian people often do not understand the importance of insurance. Indonesian society tends to think that insurance just throw money, if there is no claim until the time limit specified. In fact, now many personal line insurance suitable and affordable for the public.
  • earnings release

    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.

  • Car Insurance

    Make The Most Out Of Your Auto Insurance Policy With These Tips

    Whether you are new to the insurance world, wanting to combine your policies or shopping for better rates or coverage, you probably have some questions. Here you will find lots of helpful information that will make it fast and easy to learn more about the often, confusing world of auto insurance.

    Not every part of growing old is pain: Once you reach 50, you are entitled to a discount on your car insurance. Insurance companies are well-aware that senior drivers are, statistically, the safest on the road. Almost every insurer offers discounts for drivers between the ages of 50 and 70. If you are in this bracket, make sure you get the discount due to you.

    Make sure that you take unnecessary drivers off of your automobile insurance policy. If there is someone on your policy that does not drive one of your vehicles any more, let your insurance company know right away. This change will reduce the amount of money you pay in insurance rates each month.

    If you are looking to save money with auto insurance, you should think about going down to one car. Ask yourself if you really need two cars. Can you share with your husband or wife? Can you walk places you normally drive? You can save a lot of money this way.

    Find ways to reduce your daily commute. See if you can carpool, drop one car altogether, or switch jobs to one that is closer to home. Can you do some of your job duties from your home office? The fewer miles you drive, the less you will need to pay in car insurance.

    Increasing your automobile insurance deductibles can end up saving you considerable amounts of money. Chances are that in the long run, you’ll end up saving more per month by having a higher deductible than you’ll save by having a low deductible when it comes time to make a claim.

    Learn what the best auto policy is for you by researching on your own. Don’t expect the insurance company employee to tell you. An employee can help guide you through policies, but might not have in mind what is best for you. Depending on what type of commission plan an agent receives, the employee may be steering you toward policies that are in the best interest of the employee’s paycheck.

    As expensive as adding your teen driver to your auto insurance policy can be, it may be worth it in the long run, as it will help him or her to begin building up a good credit report. If they maintain a safe driving record, this history of insured good driving will give them a better rate when they reach adulthood and are purchasing car insurance of their own.

    The information you have read, should give you the confidence so that you will be able to go out and make the right choice for your auto insurance needs. Now you should better be able to understand coverage, find affordable rates, keep your family safe and be prepared for any losses that may occur.

  • Auto Insurance,  automobile insurance,  car insurance quotes,  car insurance rates,  free home insurance quote,  health insurance,  house insurance,  insurance adjuster,  insurance information

    Cheap Life Insurance Rates Online

    You need to be well informed about this because some insurance companies that make monetary losses from some claims end up shifting that burden to the consumer. You must look for an affordable indemnity cover that will allow you to save some money. Requesting indemnity quotes by filling simple online indemnity questionnaires that are provided by different indemnity companies; you can find and compare indemnity rates online.

    Following this simple way, you will be able to compare indemnity coverage and premium quotes from competing indemnity companies. This process can be done in 15 minutes or less and you don’t even need to make a single call or being a part of the lengthy and time consuming meetings with indemnity agents. To find cheap indemnity rates online, you can also look into other non indemnity companies’ sites that have the technology which will allow you to compare indemnity premium quotes from multiple competing indemnity companies in a few minutes by entering your information.

    One of the best ways to find out the best rates over the net is to keep checking the quotes of various indemnity plans. This will help the customers get the quotes of their desired choice. The third party indemnity companies can also be consulted for a comparative analysis. Thus, it is very important to compare the indemnity quotes before buying an insurance scheme.

    Given the current recession it is important to make sure to prioritize your money and compare insurance quotes online. A good place to state would be an online website that actually allows you to compare insurance quotes online for free.
  • stock rating

    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.

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