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Molina Healthcare Reports First Quarter 2020 Financial Results

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Molina Healthcare, Inc. today reported net income for the first quarter of 2020 of $178 million, or $2.92 per diluted share, compared to net income of $198 million, or $2.99 per diluted share, for the first quarter of 2019. Premium revenue was $4.3 billion for the first quarter of 2020, an 8.9% increase compared to the first quarter of 2019. Medical care ratio was…

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–EverQuote, Inc., a leading online insurance marketplace, is pleased to announce that Maya Gumennik has joined as SVP of Performance Marketing. In this role, Ms. Gumennik will drive growth across EverQuote’s marketing channels. “EverQuote is a rare gem on the Boston tech scene,” said Gumennik. “

For the quarter ended March 31, 2020, The Bancorp earned net income of $13.2 million from continuing operations, and $0.22 diluted earnings per share from combined continuing and discontinued operations. Net interest margin increased to 3.34% for the quarter ended March 31, 2020, compared to 3.12% for the quarter ended December 31, 2019. Net interest income…

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Lieff Cabraser Heimann& Bernstein, LLP, has filed a lawsuit in San Francisco Superior Court against Farmers’ Group and Mid-Century Insurance Company on behalf of Michelin-starred Coi Restaurant of San Francisco and Alta Adams of Los Angeles for claims including breach of contract, bad faith denial of insurance claims, and fraud. While this is the first such…

“Guardian is committed to helping dentists manage through the coronavirus crisis,” said Chris Smith, Head of Group Benefits at Guardian Life. It is available for qualifying dentists with $26,000 or more in paid claims from Guardian in 2019. Access to Resources and Behavioral Health, Financial and Legal Specialists To help navigate the impact of COVID-19,…

AM Best has affirmed the Financial Strength Rating of A and the Long-Term Issuer Credit Rating of“ a” of Protective Property& Casualty Insurance Company. The ratings also reflect the rating lift from its parent, Protective Life Insurance Company. Given the company’ s successful operations throughout the United States, AM Best considers its emerging ERM program…

AM Best has maintained its negative outlook on the U.K. non-life sector reflecting the expectation of lower premium volumes due to a COVID-19-driven economic slowdown, as well as persistent pressure on underwriting performance from strong competition and claims inflation. In the London market, an improving pricing environment and better underwriting…

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Today, Grange Insurance Company announced its Businessowner Policy payback, which will return 20% of April and May premiums to its BOP customers. “Now more than ever, small brick-and-mortar businesses need our support,” said John Ammendola, Grange Insurance President and CEO.“ Grange is taking this and other important actions because it’ s the right thing to do…

AM Best continues to hold a negative market segment outlook on Brazil’ s reinsurance sector, citing the country’ s vulnerability to the COVID-19 pandemic and the macroeconomic stresses that were present before the outbreak. A new Best’ s Market Segment Report, titled,“ Market Segment Outlook: Brazil Reinsurance,” states that the COVID-19 pandemic is translating…

Recognizing the financial strain caused by the COVID-19 pandemic, Church Mutual Insurance Company, S.I., 1 has announced it will provide financial relief to its customers. “We serve customers who are vital to the health and stability of this nation, including houses of worship, schools, senior living communities, camps and human service organizations,” said Rich…

More than 430,000 people in the state have already filed for unemployment benefits, according to the state Department of Labor and many more are expected. It similarly took weeks to allow people access to an additional $600 weekly benefit because of a computer system issue. That is now being paid out, with retroactive payments from the added $600 set to be…

AM Best has affirmed the Financial Strength Rating of B and the Long-Term Issuer Credit Rating of“ bb+” of Quest Insurance Group Limited. The outlook of these Credit Ratings is stable. The ratings also factor in a neutral impact from the company’ s ultimate majority ownership by Federal Pacific Group Limited.

The tornado that struck Haileyville on April 30, 2019, severely damaged several businesses in the city, including The Twins Cafe, which shut down for more than a month. Kevin Stitt is easing statewide COVID-19 restrictions to allow dining-in at restaurants again as the economy begins to reopen. It caused major damage to the cafe she owns with her husband, Tracey…

AM Best has revised the outlook to negative from stable for the Long-Term Issuer Credit Rating and affirmed the Financial Strength Rating of B++ and the Long-Term ICR of“ bbb+” of Protector Forsikring ASA. The outlook of the FSR remains stable. However, performance was weak in 2019, reflected by a reported loss of NOK 400,000 that was driven by poorly performing…