Property & Casualty Insurance

Cusick's Corner The Bears were not able to garner momentum after the open and by the Midday lost all ground. This is encouraging for equities that the bid was able to hold and get the market into the green. We also saw that the Dollar has crept back below mid-term support, 50-Day Simple Moving...

Cusick's Corner The Bears were not able to garner momentum after the open and by the Midday lost all ground. This is encouraging for equities that the bid was able to hold and get the market into the green. We also saw that the Dollar has crept back below mid-term support, 50-Day Simple Moving...

The Allstate Corporation (NYSE: ALL) today announced $1.4 billion in estimated catastrophe losses for the month of April. April catastrophe losses included 13 events in the United States and Canada, with the largest losses from tornadoes in Alabama, Arkansas, Georgia and Virginia that occurred in...

Universal Insurance Holdings, Inc. (NYSE: UVE) announced today that it filed a Form S-8 registration statement with the Securities and Exchange Commission under which its President and Chief Executive Officer, Bradley I. Meier, may from time to time sell up to 6,050,000 shares of common stock, and...

Universal Insurance Holdings (NYSE: UVE) announced today that it filed a Form S-8 registration statement with the Securities and Exchange Commission under which its President and Chief Executive Officer, Bradley I. Meier, may from time to time sell up to 6,050,000 shares of common stock, and the...

CNA Financial Corporation (NYSE: CNA) and CNA Surety Corporation (NYSE: SUR) announced today that an indirect wholly-owned subsidiary of CNA Financial, Surety Acquisition Corporation, has commenced the previously announced tender offer to acquire all of the outstanding shares of CNA Surety common...

KBW reduced its price target on EMC Insurance Group (NASDAQ: EMCI) to $23. At the same time, KBW left its rating unchanged at Market Perform, in spite of lowering its earnings per share estimates for 2011 and 2012. In a research report published today, KBW states, "EMCI's 1Q operating loss was...

KBW reduced its price target on Hallmark Financial Services (NASDAQ: HALL) to $8. At the same time, KBW left its rating unchanged at Market Perform, in spite of weaker than expected Q1 results. In a research report published today, KBW states, "Hallmark reported a 1Q operating loss on weaker...

According to Wunderlich, Markel (NYSE: MKL) announced 1Q11 operating EPS were $0.26 compared to $3.36. Wunderlich said that its $2.91 1Q11 estimate excluded catastrophes and reserve development. "The company experienced $68 million, or $5.28, in catastrophe losses during 1Q11. Excluding...

Aetna (NYSE: AET) and The Allstate Corporation (NYSE: ALL) today announced a strategic alliance that will provide Aetna clients and members with greater access to financial protection plans. Through this agreement, Aetna expects to offer Allstate Benefits' voluntary Critical Illness Plans and...

Piper jaffray is maintaining its Overweight rating and its $25 price target on Assured Guaranty (NYSE: AGO) following strong 1Q11 results. Says Piper Jaffray, in its report, “AGO reported 1Q11 operating EPS of $1.33 compared to our estimate of $0.87. The upside relative to our estimate resulted...

In a recent report, Keefe, Bruyette & Woods have lowered price target to $17.00 and EPS estimate from $1.25 to $0.40 on Employers Holdings (NYSE: EIG) due to deteriorating loss trends. In the report, KBW said, "EIG reported a 1Q11 miss on weaker underwriting results primarily due to...

Piper Jaffray has a Neutral rating and a $26 price target on shares of Tower Group (NASDAQ: TWGP). In a note to investors, Piper Jaffray writes, "Tower reported operating EPS of $0.49 in 1Q11, ahead of consensus and PJC's estimate of $0.46. Higher net premiums earned and a slightly better loss...

In a recent report, Keefe, Bruyette & Woods has raised the EPS estimate from $2.45 to $2.50 and the price target to $23.00 on Amtrust Financial Services (NASDAQ: AFSI). KBW has also reiterated their outperform rating due to their belief that stocks of AFSI represent an excellent value for...

Keefe, Bruyette & Woods reported on Navigators Group (NASDAQ: NAVG) this morning. In the report, Keefe was neutral. Keefe writes, “Results missed driven by several items, including sizeable marine & energy losses and resulting commission adjustments and reinstatements, as well as modest...