Banks Face $1 Billion Bill For Online Bill Pay
Wednesday, August 27, 2008 (317 reads)
As the popularity of online bill payments grows, a new study by Mass.-based TowerGroup finds that banks may have to pay upwards of $1 billion by 2010 in online bill pay-related costs and services.
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Q2 Worst In 6 Years For Property/Casualty Insurers
Wednesday, August 27, 2008 (134 reads)
In the second quarter, 22 individual property and casualty companies nationwide reported underwriting losses of more than $100 million, the worst second quarter for property/casualty companies since 2002, according to new data from SNL Financial.
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Opposition To SEC Annuities Rule Builds
Wednesday, August 27, 2008 (117 reads)
The largest trade group of life insurance producers is objecting to a proposed U.S. Securities and Exchange Commission rule that would grant it oversight of certain indexed annuities, while state regulators and legislators are seeking more time to study the proposal, according to InsuranceNewsNet.
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Solid Dividends Declared By OdysseyRe
Wednesday, August 27, 2008 (126 reads)
Stamford reinsurance, specialty and property/casualty insurer OdysseyRe Holdings Corp. has declared $.57 and $.38 cent dividends on two of its outstanding share classes.
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Greater Hartford Retail Market Struggling
Tuesday, August 26, 2008 (248 reads)
Total retail space available in the Greater Hartford area for the 20 month period ended in June was down slightly compared to the previous 20 months, which helped contribute to a slightly higher occupancy rate, according to a new report by KeyPoint Partners.
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R.V.I. Under Review
Tuesday, August 26, 2008 (125 reads)
The strong ratings of R.V.I. America Insurance Co. and R.V.I. National Insurance Co., both Connecticut-based subsidiaries of Bermuda insurer R.V.I. Guaranty Co., have been put under review by A.M. Best Co.
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National New Home Sales Up In July
Tuesday, August 26, 2008 (259 reads)
Sales of newly constructed U.S. single-family homes in July were lower than economists expected but rose from a June pace that was the slowest in nearly 17 years, a government report showed on Tuesday.
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Citi: Fannie, Freddie Can Absorb Losses
Tuesday, August 26, 2008 (182 reads)
Fannie Mae and Freddie Mac, the two biggest U.S. mortgage finance giants, have enough capital to absorb probable losses through the end of the year, according to Citigroup equity research.
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