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TAIPEI, Taiwan (Reuters)?Prudential Financial, one of the largest U.S. life insurers, is overweight on U.S. stocks believing widely expected U.S. interest rate cuts would keep any recession short and boost stocks, an executive said on Monday. "There could be a recession, but it's going to be short,"
LONDON (Reuters)?U.S. private equity firm JC Flowers & Co. L.L.C. said on Monday it was considering making an offer for Britain's Friends Provident, boosting the shares of the stricken insurer. JC Flowers, which also said an entity that it advises had acquired a stake of around 2.7% in Friends,...
NEW YORK (Reuters)?A Florida court stayed an order on Friday from the state's insurance commissioner, clearing the way for Allstate Corp. to once again write new auto and other policies in the state. Insurance Commissioner Kevin McCarty had suspended Allstate on Wednesday from writing new policies...
PHOENIX?Rod Morris, captive administrator for the Arizona Department of Insurance, announced Friday that he will be leaving in February. Mr. Morris will return to his former executive position with the Overseas Private Investment Corp., an agency that provides specialized political risk insurance...
NEW YORK (Reuters)?Schering-Plough Corp.'s chief executive officer said Friday he has seen no signs of insurers aiming to tighten reimbursement for its Vytorin cholesterol drug, following mixed results from a closely watched trial of the blockbuster pill. "I'm not aware of any pullback" by...
NEW ORLEANS?The 5th U.S. Circuit Court of Appeals has ruled that the Employee Retirement Income Security Act does not pre-empt state law claims regarding unsafe workplaces. Le Ann McAteer, a former employee for Silverleaf Resorts Inc., worked as a landscaper at the Holly Lake Ranch in Texas, about...
HAMILTON, Bermuda?Everest Re Group Ltd. said it expects to report a $311 million net pretax charge for the year ended Dec. 31, 2007, as a result of asbestos reserve strengthening. The Bermuda-based reinsurer said Thursday that it expects to report fourth-quarter 2007 net income of between $4...
MILAN, Italy (Reuters)? Three of Italy's main unions called for a nationwide ports strike to start on Friday after two workers died overnight in a port near Venice. The call for a strike which could paralyze the country comes as Italy debates workplace safety following a fire last month at a...
LONDON?London-based brokerage, THB Group P.L.C., is to launch a general managing agency and will continue to look for acquisitions, in spite of disappointing results for the six months to Oct. 31, 2007. Earlier this month, THB withdrew its offer to acquire the Lloyd?s broking and overseas...
HARTFORD, Conn.?Former General Re. Corp. Senior Vp Richard Napier told a jury Thursday that an allegedly fraudulent 2000 reinsurance deal with American International Group Inc. ?had a stench to it,? but he acknowledged that through much of the deal?s development he did not believe he was committing...
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