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Lemonade Shares Fall After Q2 Results
2024 Jul 30, 5:03pm | 319Lemonade Inc (NYSE:LMND) shares are falling after the company reported its second-quarter financial results Tuesday. Here's a look at the details from the report. The Details: Lemonade reported quarterly losses of 81 cents per share which beat the analyst consensus estimate of losses of 86...
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Electric Vehicles Are Bleeding Insurers Money In This Key Market For Tesla And Other Auto Giants: Here's Why
2024 Jul 28, 9:56pm | 858The rapid increase in the number of new energy vehicles in China has led to a financial conundrum for the country’s insurers. The insurers are finding it challenging to make a profit from insuring these vehicles, despite charging higher premiums. What Happened: The surge in NEV ownership in...
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Travelers' Q2 Earnings Beat Expectations With Strong Core Income
2024 Jul 19, 9:34am | 490The Travelers Companies (NYSE:TRV) shares are trading higher on Friday after the company reported Q2 revenue growth of 12% Y/Y to $11.283 billion, missing the consensus of $11.341 billion. Core income per share reached $2.51, up from 6 cents a year ago, beating the $1.98 consensus forecast. Core...
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Rental Car Companies Back Away From Hard-To-Resell Electric Vehicles
2024 Jul 15, 7:25pm | 647Rental car companies are not as energized as they used to be about electric vehicles (EVs), having found out that they are hard to resell at a decent price. In January, rental car giant Hertz Global Holdings, Inc. (NASDAQ:HTZ) scaled back plans to buy 100,000 EVs after seeing that their resale...
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Insurance Underwriting Stock Will Benefit From Favorable Industry Trends, Says Bullish Analyst
2024 Jul 11, 12:22pm | 236Unum Group (NYSE:UNM) shares remained volatile in early trading on Thursday. In the insurance industry, underwriting stocks represent "the greatest growth, least reliance on variable investment income and also greatest amount of moats," according to Piper Sandler. The Unum Analyst: John Barnidge...
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Humana Has A 'Positive 6-Month Catalyst Path,' Says Bullish Analyst
2024 Jun 26, 12:19pm | 313Humana Inc (NYSE:HUM) recently inked an in-network deal with the University of Alabama at Birmingham's (UAB) Health System to provide Medicare Advantage members in the state greater access to care. The leadership of the new CEO, Jim Rechtin, who is joining on July 1, could accelerate the company's...
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Zurich Insurance Announces $600M Acquisition Of AIG's Global Personal Travel Insurance Business To Bolster US Presence
2024 Jun 26, 3:23am | 505In a strategic move to bolster its travel insurance arm, Zurich Insurance (OTC:ZURVY) announced a $600 million deal to acquire the global personal travel insurance and assistance business of American International Group Inc. (NYSE:AIG). What Happened: The acquisition, which is expected to be...
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Supreme Court Rejects Home Depot's Objection, Upholds $2.7B Blue Cross Settlement
2024 Jun 25, 2:17pm | 375The U.S. Supreme Court has declined to hear a challenge to a $2.7 billion nationwide class action settlement against Blue Cross Blue Shield. The settlement addressed allegations that the insurer overcharged commercial and individual subscribers for years. This decision effectively upholds the...
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South Florida Grapples With Rising Flood Waters: What Are The Implications For Insurance Sector?
2024 Jun 13, 5:16pm | 523Flood waters in South Florida may continue to rise due to persistent torrential rains this week, while the impact on shares of major insurance providers is yet to be determined, with stocks showing little change as of Thursday. Miami and Miami Beach received about 6 inches of rain on Tuesday, while...
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UnitedHealth's OptumRx Unveils New Transparent Drug Pricing Initiative for 2024
2024 May 21, 10:54am | 435UnitedHealth Group‘s (NYSE:UNH) OptumRx unit has a new pricing model to help manage drug costs for insurers. Starting next year, the OptumRx Clear Trend Guarantee will offer value-based pricing for drugs. It will integrate costs from various sources such as retail pharmacies, home delivery,...
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AIG Reduces Corebridge Stake, Sells 120M Shares To Nippon Life
2024 May 16, 10:18am | 279American International Group, Inc. (NYSE:AIG) sold 120 million shares in Corebridge Financial Inc (NYSE:CRBG) to Nippon Life for $3.8 billion. That’s $31.47 per share. The stake represents 20% of Corebridge’s outstanding shares. AIG retains a 9.9% stake for two years post-closing. AIG...
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Warren Buffett's Berkshire Buys Up Chubb As Insurance Market Faces 'Trouble': A Bold Contrarian Bet?
2024 May 16, 8:33am | 639Warren Buffett‘s investment moves are always closely watched, and his recent reveal of Berkshire Hathaway Inc‘s (NYSE:BRK) (NYSE:BRK) acquisition of nearly 26 million shares of Chubb Ltd (NYSE:CB), has sparked interest and speculation in the market. Chubb Stock Soaring On Warren Buffett...
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Chubb Stock Climbs After Berkshire Hathaway Purchases Shares
2024 May 15, 5:09pm | 365Chubb Limited (NYSE:CB) shares are trading higher after the bell Wednesday following an SEC filing showed Berkshire Hathaway purchased shares of the stock. The Details The 13F filing revealed Berkshire Hathaway had purchased 25.92 million Chubb shares valued at over $6.717 billion. Chubb is...
Coverage of Insurance.