| //24-11-2009 |
Hartford Healthcare and Aetna (NYSE: AET) today announced they have reached agreement on a new contract. The new agreement covers every element of the Hartford Healthcare organization – Hartford Hospital, MidState Medical Center, Windham Hospital, Hartford physicians and other outpatient and ancillary service facilities.
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| //24-11-2009 |
Scottish Life, the pensions specialist arm of the Royal London Group, has received two prestigious awards at the annual Financial Adviser Service Awards ceremony. The awards for "5 Star Service" and "Most Improved Life and Pensions Company" were presented at a dinner held at the National History Museum in London last night.
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| //23-11-2009 |
State Insurance Commissioner Jim Donelon said Monday his office will go after insurance companies that cancel homeowner policies because of tainted drywall.
Policyholders who have been covered for more than three years by their insurer have the right to continue their coverage while vacating and ridding their home of defective drywall, as long as the homeowner reports the issue to the insurer, Donelon said.
His office will fine or suspend the licenses of any insurance company found breaking this rule, he said.
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| //23-11-2009 |
Aetna (NYSE: AET) today announced that it is reducing its workforce by approximately 625 positions. This action is consistent with our goal of aligning our cost structure with the company’s membership outlook for 2010. Aetna currently has approximately 35,500 employees. The company expects to incur a restructuring charge of approximately $40 million, after tax, as a result of today’s workforce reductions and ongoing real estate consolidation.1 In addition, Aetna anticipates making a similar number of workforce reductions by the end of the first quarter 2010, and expects to disclose the financial impact of that action once decisions are finalized.
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| //20-11-2009 |
MIDDLETOWN — Aetna gave pink slips to 1.75 percent of its workforce and plans another round of layoffs before the end of the first quarter on March 31, the company announced Wednesday.
The potential impact of health care reform, coupled with the economic downturn, prompted the workforce reductions, Aetna Inc. CEO Ronald A. Williams said in a statement. A total of 625 company employees will be laid off.
The health insurance company already informed the 160 employees in the state who will be losing their jobs in the first round of layoffs, Aetna spokesman Fred Laberge said. He said the layoffs were spread across different departments, and he did not know the number of layoffs from the Middletown office of Aetna on Middle Street, which is in the process of relocating to the company’s Hartford campus.
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| //20-11-2009 |
Insurance companies thrive while poor die
The insurance companies are paying their CEOs huge bonuses with "blood money"--record-breaking earnings, garnered at the expense of the poor, the elderly, the sick, and the dying.
What have we come to as a nation? Greed seems to rule the Republicans in this nation, which was once a haven for those willing to work hard for a better life.
Now the "wing-nut" right-wingers are selling hatred, violence, and greed, using health care as an excuse to do and say unthinkable things.
People who are sick and dying can't work because they don't have health care. Health care has to be one of the building blocks for economic well-being. Jobs, health, and opportunity are interwoven.
Please, put a little human kindness before your aimless re-election desires.
Patricia Smith
Fauquier
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| //20-11-2009 |
With premium income of CHF 3.2 billion in the third quarter of 2009, the Swiss Life Group achieved 5% growth over the previous year. At the same time, operating costs were reduced by 3% over the same period. The Group solvency ratio increased to 168% by the end of September. AWD has returned to operational profitability in the third quarter. Its results for 2009 will be significantly impacted by one-off charges and restructuring costs.
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| //20-11-2009 |
After today’s decision by the Federal Reserve to maintain the target fed funds rate at zero to 25 basis points, Swiss Re’s chief US Economist, Kurt Karl, commented, “There was no surprise, as expected, with the target policy rate today.”
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| //20-11-2009 |
With premium income of CHF 3.2 billion in the third quarter of 2009, the Swiss Life Group achieved 5% growth over the previous year. At the same time, operating costs were reduced by 3% over the same period. The Group solvency ratio increased to 168% by the end of September. AWD has returned to operational profitability in the third quarter. Its results for 2009 will be significantly impacted by one-off charges and restructuring costs.
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| //20-11-2009 |
WASHINGTON (Legal Newsline)-Senate Majority Leader Harry Reid's plan to overhaul the nation's health care system received a chilly reception from Republicans who decried the proposal as a bundle of tax increases and new responsibilities for cash-strapped states without enacting legal reforms.
The Senate Democratic leadership is aiming for a vote Saturday on whether to take up the legislation, which would expand insurance coverage to some-31 million uninsured Americans and bar insurance companies from denying coverage on the basis of pre-existing medical conditions, among other things.
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| //20-11-2009 |
Dear U.S. Rep. Peter Roskam, I am very upset to learn you voted against the Affordable Health Care Act for America. I fear you have aligned yourself with the insurance companies rather than the people in your district.
The way that health care is run today is abusive and unethical. Health insurance companies are currently focused on how not to pay for peoples health issue, rather than innovations to make the industry better. I believe that HR 3962 will create an innovative new generation of health care for all Americans.
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| //13-11-2009 |
American International Group, Inc. (AIG) today reported a profit in the third quarter of 2009, as certain of its businesses continue to stabilize and the company’s results reflected positive market valuation changes.
For the third quarter ended September 30, 2009, AIG reported net income attributable to AIG of $455 million, including net income attributable to AIG common shareholders of $92 million, or $0.68 per diluted common share, compared with a net loss of $24.5 billion or $181.02 per diluted share in the third quarter of 2008. Third quarter 2009 adjusted net income was $1.9 billion, compared with an adjusted net loss of $9.2 billion in the third quarter of 2008
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| //13-11-2009 |
After today’s decision by the Federal Reserve to maintain the target fed funds rate at zero to 25 basis points, Swiss Re’s chief US Economist, Kurt Karl, commented, “There was no surprise, as expected, with the target policy rate today.”
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| //10-11-2009 |
American International Group, Inc. (AIG) today reported a profit in the third quarter of 2009, as certain of its businesses continue to stabilize and the company’s results reflected positive market valuation changes.
For the third quarter ended September 30, 2009, AIG reported net income attributable to AIG of $455 million, including net income attributable to AIG common shareholders of $92 million, or $0.68 per diluted common share, compared with a net loss of $24.5 billion or $181.02 per diluted share in the third quarter of 2008. Third quarter 2009 adjusted net income was $1.9 billion, compared with an adjusted net loss of $9.2 billion in the third quarter of 2008.
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| //10-11-2009 |
Momentum, a wholly-owned subsidiary of the FirstRand group, released its 2009 Sustainability Report on Friday 6 November 2009, cementing an approach to business which views sustainability issues as inseparable from business as usual.
“Companies release financial results periodically to measure the profitability of their businesses. Tracking non-financial indicators is however becoming more important,” says Nicolaas Kruger, Chief Executive Officer of the Momentum Group.
The report shows that Momentum is on track in its efforts to provide access to financial services, and to interact transparently, responsibly and fairly with customers, employees, suppliers, communities and the environment.
In less than two years, Momentum has written more than 63,000 Zimele compliant policies. Zimele is a set of standards put in place by the industry body ASISA in partnership with Government, Community and Labour, for long-term insurance policies. The standards provide minimum product requirements of fair charges, easy access and decent terms, specifically for South Africa’s low-income earners.
Kruger says, “We believe providing access to financial services is one of the key and unique ways that financial institutions can contribute to the upliftment of disadvantaged communities. More than that, it also opens up prospective markets that have great growth potential for financial institutions. Our partnership with FNB has helped us establish a footprint into this very important market and our plan is to extend this even further through innovative distribution models”.
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| //09-11-2009 |
Swiss Re reported net income of CHF 334 million for the third quarter of 2009. The estimated excess capital position at the AA level increased to more than CHF 6 billion. Swiss Re’s core business continued to deliver very strong results, and the company achieved further significant progress in de-risking its Legacy portfolio.
Stefan Lippe, Swiss Re’s Chief Executive Officer, said: “During the third quarter of 2009, we continued to improve Swiss Re’s financial flexibility through a combination of strong underlying performance in our core business and continued de-risking of the Legacy activities. During the first nine months of 2009, our excess capital at the AA level improved to over CHF 6 billion. Our excess capital is substantial and allows us to support our clients when they need us most.”
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| //09-11-2009 |
Scottish Life, the pensions specialist arm of the Royal London Group, has introduced ten new funds to its core fund range. The funds have been introduced in response to feedback from IFAs (Independent Financial Advisers) and market analysis.
The new funds give access to five new investment sectors (Commodities, US Mid Cap, Total Return, Global Property and Global Bonds) and increase the choice in existing sectors. Nine of the funds are actively managed, all of which are OBSR (Old Broad Street Research) rated – two are A-rated; three AA-rated; and four AAA-rated.
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| //09-11-2009 |
Swiss Life achieved a profit of CHF 172 million from continuing operations in the first six months of 2009 (+13%; HY 2008: CHF 152 million); the net profit stood at CHF 139 million.
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| //09-11-2009 |
American International Group, Inc. (AIG) will report its third quarter 2009 results before the market opens on Friday, November 6, 2009. AIG’s Quarterly Report on Form 10-Q, earnings release and financial supplement will be available in the Investor Information section of www.aig.com after the results are reported.
It should be noted that the earnings release and financial supplement may include projections and statements which may constitute “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995. These projections and statements are not historical facts but instead represent only AIG’s belief regarding future events, many of which, by their nature, are inherently uncertain and outside AIG’s control. These projections and statements may address, among other things, the outcome of the completed and proposed transactions with the Federal Reserve Bank of New York (FRBNY) and the United States Department of the Treasury (Department of the Treasury); the number, size, terms, cost, proceeds and timing of dispositions and their potential effect on AIG’s businesses, financial condition, results of operations, cash flows and liquidity (and AIG at any time and from time to time may change its plans with respect to the sale of one or more businesses); AIG’s exposures to subprime mortgages, monoline insurers and the residential and commercial real estate markets; the separation of AIG’s businesses from AIG parent company, AIG’s ability to retain and motivate its employees and AIG’s strategy for customer retention, growth, product development, market position, financial results and reserves. It is possible that AIG's actual results and financial condition will differ, possibly materially, from the anticipated results and financial condition indicated in these projections and statements. Factors that could cause AIG's actual results to differ, possibly materially, from those in the specific projections and statements include a failure of the completed transactions with the FRBNY or the Department of the Treasury to achieve their desired objectives or a failure to complete the proposed transactions with the FRBNY; developments in global credit markets and such other factors as discussed throughout Part I, Item 2. Management’s Discussion and Analysis of Financial Condition and Results of Operations, and in Part II, Item 1A. Risk Factors of, AIG’s Quarterly Report on Form 10-Q for the quarterly period ended September 30, 2009, in Part I, Item 1A. Risk Factors of AIG’s Annual Report on Form 10-K for the year ended December 31, 2008 (including Amendment No. 1 on Form 10-K/A filed on April 30, 2009). AIG is not under any obligation (and expressly disclaims any obligation) to update or alter any projection or other statement, whether written or oral, that may be made from time to time, whether as a result of new information, future events or otherwise.
American International Group, Inc. (AIG), a world leader in insurance and financial services, is the leading international insurance organization with operations in more than 130 countries and jurisdictions. AIG companies serve commercial, institutional and individual customers through the most extensive worldwide property-casualty and life insurance networks of any insurer. In addition, AIG companies are leading providers of retirement services, financial services and asset management around the world. AIG's common stock is listed on the New York Stock Exchange, as well as the stock exchanges in Ireland and Tokyo.
Source: American International Group, Inc.
American International Group, Inc.
News Media
Christina Pretto, 212-770-7083
OR
Investment Community
Teri Watson, 212-770-7074
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| //03-11-2009 |
Location: Zurich
Date: 03 November 2009, 10:30 AM
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