Property & Casualty Insurance

Below are the top surety & title insurance stocks on the NYSE in terms of cash. Radian Group Inc (NYSE: RDN) had $5.88 billion in total cash and $1.34 billion in total debt for the latest quarter. MBIA Inc (NYSE: MBI) had $4.11 billion in total cash and $16.10 billion in total debt for the...

XL Group plc (NYSE: XL) announced today the appointment of Peter R. Porrino as Executive Vice President and Chief Financial Officer. Mr. Porrino will join the Company in late August. Mr. Porrino, who has more than 30 years of experience working in and advising the insurance industry, including...

The Allstate Corporation (NYSE: ALL) today announced $0.6 billion, pre-tax, in estimated catastrophe losses for the month of May 2011. May catastrophe losses comprised 7 events. Allstate previously announced $1.4 billion in estimated pre-tax catastrophe losses for the month of April 2011,...

Piper Jaffray is out with its report today on Progressive (NYSE: PGR), maintaining Neutral. In a note to clients, Piper Jaffray writes, "Progressive reported operating EPS of $0.11 for the month of May 2011, roughly in-line with PJC's $0.12 estimate. Monthly results included $48M of catastrophe...

Donegal Group Inc. (Nasdaq: DGICA) (Nasdaq: DGICB) announced today that it expects the severe storm activity in April and May to result in estimated pre-tax weather-related claims, net of reinsurance, of approximately $13-15 million for the second quarter of 2011. These claims include $7-8 million...

Shares of ACE Limited (NYSE: ACE) are lower on the session by 0.75%, trading at $65.25. Overall call volume is now running at 2.03x the daily average, with 10% of all calls traded being purchases on the offer. 1,541 contracts have traded on the session so far. ACE Limited is a holding company of...

Keefe Bruyette & Woods maintains its Market Perform rating and its $17 price target on State Auto Financial (NASDAQ: STFC) as the company reports estimated losses between $45 and $50 million in the month of May. STFC closed yesterday at $16.06.

Piper Jaffray has an Overweight rating and a $25 price target on shares of Assured Guaranty (NYSE: AGO). In a note to clients, Piper Jaffray writes, "Meetings with management of Assured Guaranty reiterate our outlook and Overweight rating on the shares. While valuation remains a significant...

According to J.P. Morgan, Allied World Assurance Company Holdings (NYSE: AWH) and Transatlantic Holdings (TRH: N) announced a merger that would create a company with over $21 billion in invested assets and $7 billion in equity capitalization. J.P. Morgan said that AWH will issue 0.88 shares for...

According to a recent report from Keefe, Bruyette & Woods, XL Group (NYSE: XL) announced the estimated April and May net losses of $50 to $75 million. Keefe, Bruyette & Woods has lowered the EPS estimate in 2011 from $1.35 to $1.25 but has maintained a $26.00 price target and a Market...

OneBeacon Insurance Group, Ltd. (NYSE: OB) announced today that it has filed a shelf registration statement on Form S-3 with the Securities and Exchange Commission to replace its registration statement on Form S-3 (File No. 333-152078), filed on July 2, 2008, which is expiring pursuant to the rules...

Shares of ACE Limited (NYSE: ACE) are lower on the session by 0.38%, trading at $65.74. Overall call volume is now running at 3.33x the daily average, with 0% of all calls traded being purchases on the offer. 2,035 contracts have traded on the session so far. ACE Limited is a holding company of...

While Dirk Nowitzki was busy making Mark Cuban look like the genius he is, and while LeBron James was busy LaChoking away yet another championship opportunity, the financial world was busy buying, selling, and merging themselves into a frenzy. Here is a roundup of some of the weekend's mergers and...

Allied World Assurance Co Holdings (NYSE: AWH) agreed to buy Transatlantic Holdings (NYSE: TRH) for $3.2 billion in stock. Read more here.

Stifel Nicolaus is out with its report today on The Travelers Companies (NYSE: TRV), maintaining Hold. In a note to clients, Stifel Nicolaus writes, "Given the losses expected in 2Q11, plus the much lower share repurchase going forward, we are lowering our EPS estimate for 2Q11 and 2011 from $1.57...