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insurers posts

Annual Ritual: Speculating on Florida Insurance Market's Strength

Posted Mar 9th 2010 2:40PM by Tom Johansmeyer (RSS feed)
Filed under: Bank of America (BAC), Amer Intl Group (AIG)

It's not an unusual problem at this time of year. We're a few months from June 1, the official start of hurricane season, at least as far as the insurance industry is concerned. Through April and May, the Florida legislature will rush to nail down details pertaining to Citizens Property Insurance Corporation, the state entity that provides insurance to some homeowners (usually when risk is too high for private insurers to accept), and the Florida Hurricane Catastrophe Fund, which provides some reinsurance protection to carriers writing property-catastrophe risk in Florida.

And even earlier, the editorials start to fly. There are concerns over whether homeowners will get sufficient coverage. There are questions about thinly capitalized Florida carriers. This is an annual ritual, of sorts, and 2010 is no different. Already, the Sarasota Herald-Tribune is raising the issue of whether some local carriers are sufficiently capitalized. Ultimately, this isn't much of a problem – unless a hurricane hits.

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AIG's Taiwan unit draws interest of private equity firms

Posted Jun 30th 2009 9:00AM by Trey Thoelcke (RSS feed)
Filed under: Industry, Morgan Stanley (MS), Amer Intl Group (AIG)

American International Group (NYSE: AIG), once the world's largest insurer, is selling assets outside the U.S. to repay a government bailout. The Carlyle Group, KKR, JC Flowers, and other U.S. private equity firms and Asian financial groups are reported to be interested in AIG's Taiwanese unit Nan Shan Life Insurance Co.

"Everyone hopes this is going to be a fire sale as AIG is in a difficult situation," said a local partner of Standard & Poor's.

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Cramer on BloggingStocks: The next run is on the insurers

Posted Oct 2nd 2008 9:35AM by Jim Cramer (RSS feed)
Filed under: Market Matters, SLM Corp (SLM), Cramer on BloggingStocks, Financial Crisis

TheStreet.com's Jim Cramer says he doesn't want to make a move until he sees the action.

We aren't oversold enough anymore, and we are up too much. Meanwhile, the next run is on the insurers, as we can tell from the erratic nature of the way that group is trading.

Oh, and what's the deal with Sallie Mae (NYSE: SLM) (Cramer's Take)?

There's not a lot of respite here in part, again, because of Lehman and the default of so much Washington Mutual paper.

We just aren't ready for what is happening yet, and we keep getting surprised about where the paper is. The rescue bill will help, but the pork attachments are so horrible that I believe, ex-FDIC, they have made it tougher to pass, not easier.

Continue reading Cramer on BloggingStocks: The next run is on the insurers