Commercial and personal property insurer Travelers Cos. said today that lower investment income and underwriting profit drove its second-quarter earnings down 21 percent.
Health insurer Cigna Corp. said today its second-quarter profit jumped 60 percent on a more favorable interest rate and other items, but enrollment fell 7 percent.
The number of newly laid-off Americans filing first-time claims for jobless benefits rose last week, the government said, though the increase was mostly due to seasonal distortions.
Highlights from the Federal Reserve's survey of economic conditions nationwide. The survey, released Wednesday and known as the Beige Book, is based on information collected from the Fed's 12 regional bank districts.
Commonwealth Financial Network of Waltham, Mass., picked up three large offices of reps and advisers who manage $1.25 billion in July, and the advisers are coming from two broker-dealer networks that are being shopped by the insurance companies that own them.
Moody's Corp., owner of Moody's Investor Service, said Wednesday that second-quarter profit fell 19 percent as the credit markets continued to languish. But it beat Wall Street estimates and raised its 2009 profit forecast.
Craig Raymond has joined John Hancock Financial Services Inc. as its new chief risk officer and chief actuary, effective immediately.
Insurer Conseco said expects to post a profit in the second quarter because of a much smaller investment loss.
Deutsche Bank AG has reported a 67 percent rise in second-quarter net profit due to stronger corporate and investment banking and one-time charges that lowered the year-ago results. Shares slumped, however, due to write-downs and a cautious outlook.
Orders to U.S. factories for big-ticket durable goods plunged in June by the largest amount in five months, reflecting the continuing troubles in the auto industry and a steep drop in demand for commercial aircraft.
Investment guru Bill Miller says it's safe to come out of the bushes — the bears have been contained.
Insurer American International Group Inc. said on today that it closed the sale of its life insurance premium finance business for $679.5 million in cash.
A preliminary report on consumer sentiment in July is expected to show that Americans remain gloomy as job worries offset any enthusiasm about the resumed stock market rally that has helped bolster retirement accounts.
Jitters about the U.S. economy are putting the stock market rally on hold again.
Women are cutting back on discretionary expenses in this down economy more than men, according to a study released today.
Fidelity Investments' contract as program manager for Massachusetts' 529 college savings program, the $2.5 billion U.Fund College Investing Plan, has been renewed by Massachusetts Educational Financing Authority.
Members of Congress are being urged to create — at a minimum — a new regulatory body within the federal government to focus on the insurance industry.
Adults 55 to 64 were most likely to have health care coverage in 2007, according to a study from the Employee Benefits Research Institute.
Kermitt J. Brooks, acting insurance superintendent for New York, today was named the chairman of the National Association of Insurance Commissioners' life and annuities committee.
