Financial
Progressive in $80m reinsurance recovery for August cat losses
Auto and property insurance focused Progressive Corporation recovered $80 million from its reinsurance in August, after the impacts of catastrophe losses during the month, in particular hurricane Laura and Isaias, triggered both its aggregate and per-occurrence protection. Progressive said that its property line of business combined ratio elevated to 147.1% for August 2020, driven by…
Read MoreFEMA begins 2021 flood reinsurance renewal process, may upsize program
The U.S. Federal Emergency Management Agency (FEMA) is back in the reinsurance market and seeking expressions of interest to participate in a January 2021 renewal of the National Flood Insurance Program’s (NFIP) traditional reinsurance program. Our sources suggest that for 2021 FEMA may look to increase the size of the traditional flood reinsurance program a…
Read MorePaskin and Butt named CEO’s of Convex Re (Bermuda) & Convex Insurance UK
Convex Group, the specialty insurance and reinsurance company founded by Stephen Catlin, has named two new CEO’s of its core underwriting entities, with Matt Paskin appointed CEO of Convex Re Limited (Bermuda) and Theo Butt CEO of Convex Insurance UK Limited. Both of these roles were previously held by Convex Group Co-Founder & Group Deputy…
Read MoreAllstate’s cat losses hit $985m in August on hurricanes Laura & Isaias
U.S. primary insurance giant Allstate has reported the highest monthly total of catastrophe losses it has suffered for some time, as hurricanes Laura and Isaias helped to drive the total to $985 million for August 2020. 11 catastrophe events in August drove $969 million of pre-tax catastrophe losses, while adverse reserve development on events from…
Read MoreDogs of The Dow: The 10 Highest Yielding Dow 30 Stocks Now
Updated on September 17th, 2020 by Nate Parsh The “Dogs of the Dow” investing strategy is a very simple way for investors to achieve diversification and income in their portfolios while remaining in the sphere of more conservative blue chip stocks. The strategy consists of investing in the 10 highest yielding stocks in the Dow…
Read MoreFannie Mae common shares may be a good long-term play
The debate over Fannie Mae‘s and Freddie Mac’s common shares continues with analyst Dick Bove of Odeon Capital downgrading them to Sell. Meanwhile, Tim Pagliara of CapWealth Advisors said Fannie Mae and Freddie Mac common shares should do “very, very well” in the long term. Q2 2020 hedge fund letters, conferences and more Bove’s problem […]
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Read MoreWFH Negatively Impacting Career Progression For Tech Industry Workers
53% Of Professionals Say Their Career Progression Has Been Negatively Impacted Due To WFH Q2 2020 hedge fund letters, conferences and more Is the Covid-19 pandemic messing up your career plans? On Blind, an anonymous professional network, with 3.6M verified users, 53% of professionals claim it is. The platform ran a survey from 9/14- 9/17 […]
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Read MoreSmart Financial Tips For Dealing With An Accident-Damaged Car
A car accident can cause irreparable damage to your vehicle. Besides the stress of no longer having a working automobile, the financial cost of an accident can be overwhelming, even with insurance. Moreover, the decision to get rid of a car after an accident, instead of repairing it, can be a difficult one. Q2 2020 […]
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Read MorePhilly Fed Index Showing Continued Growth
Commenting on the key economic releases, th Philly Fed Index and today’s trading Gorilla Trades strategist Ken Berman said: Q2 2020 hedge fund letters, conferences and more The major indices are all trading in the red at midday following a bearish overnight session and an encouraging morning bounce on Wall Street. The technically weak tech […]
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