Tag: american insurance

Insurance news from Swiss Re reveals Sandy and extreme weather loss estimates

insurance news - atlantic hurricane season

The Superstorm and other disasters were found to have caused $77 billion in insured losses. The second largest reinsurer on the globe has issued its insurance news data regarding natural catastrophes as well as manmade disasters last year accumulated a cost to the industry of $77 billion. This makes 2012 the third most costly year that the industry has ever recorded. According to the Swiss Re insurance news report, there were over 300 different disasters and catastrophes last year. Together, they led to the loss of more than 14,000 lives.…

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Healthcare reforms from White House encouraging Medicaid expansion

G. Turner
Health insurance care reform confusion debate

The states are being persuaded to broaden their programs for providing coverage to the poor. The federal government is reissuing its encouragement to the states – particularly those where officials are skeptical about Medicaid expansion – to broaden that program through the use of federal healthcare reforms money to subsidize private insurance coverage purchase for individuals within the low incomes. This offer being proposed by the federal government was not a model that was originally part of the new law. At the same time, Kathleen Sebelius, the Health and Human…

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Insurance news brings Permanent General into the American Family fold

property insurance news

The large insurer has now completed the acquisition that it had previously announced. American Family has made insurance news by completing the acquisition of Permanent General Companies, as well as other PGC Holdings Corp. subsidiaries. The purchase of the Tennessee based company had been previously announced and have now been completed. The transaction was for a reported $239 million, which was paid to Capital Z Partners, the previous majority owner. It had been awaiting its final step in order to close the insurance news deal, which was the approval from…

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Insurance industry news made when Treasury sold remaining AIG shares

AIG Insurance Industry Marketing

There were 234.2 million shares left of the massive insurer, and their price was $32.50 each. The Treasury Department has just announced its latest insurance industry move with the sale of all of its remaining shares of American International Group (AIG), which brings to a close the largest bailout from the U.S. government in the 2008 financial crisis. The Treasury stated that it received $32.50 for each of the 234.2 million shares it continued to hold. That represented the last of the sales of the 16 percent ownership that the…

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