An early rebound for U.S. stocks petered out by the end of the day, leaving indexes close to flat. The S&P 500 edged down by 0.1% Thursday, coming off one of its worst days of the year after the Federal Reserve said it may deliver fewer cuts to interest rates in 2025 than earlier thought. Treasury yields were mixed in the bond market following reports showing the U.S….
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Luigi Mangione was hit with new federal charges that carry the potential death penalty after arriving in New York Thursday stemming from the fatal shooting of UnitedHealthcare CEO Brian Thompson, with authorities saying he counted down his plan for months. FBI special agent Gary Cobb referenced writings of Mangione "s laying out a months long plan to kill…
Luigi Mangione was hit with new federal charges that carry a potential death penalty after arriving in New York Thursday stemming from the fatal shooting of UnitedHealthcare CEO Brian Thompson, with authorities saying he counted down his plan for months. After appearing earlier Thursday in Pennsylvania, Mangione was transferred to New York authorities "…
Luigi Mangione was hit with new federal charges after arriving in New York Thursday stemming from the fatal shooting of UnitedHealthcare CEO Brian Thompson, with authorities saying he counted down his plan for months. After appearing earlier Thursday in Pennsylvania, Mangione was transferred to New York authorities "custody and flown to Long Island" s…
The Federal Reserve cut its key interest rate Wednesday, providing some help for consumers. In California, sales of existing homes in October were up from September. The median price was $888,740, up 2.4% from September.
The average rate on a 30- year mortgage in the U.S. rose this week to its highest level since late November, reflecting a recent uptick in the bond yields that lenders use as a guide to price home loans. The rate rose to 6.72% from 6.6% last week, mortgage buyer Freddie Mac said Thursday. Mortgage rates are influenced by several factors, including the moves in the yield…
AM Best has maintained the under review with negative implications status for the Financial Strength Rating of B++ and the Long-Term Issuer Credit Rating of“ bbb+” of Cowen Reinsurance S.A.. Cowen Re’ s ratings were initially placed under review on June 15, 2023. Additionally, the negative implications status also reflects the negative trend on the company’ s…
AM Best has affirmed the Financial Strength Rating of A and the Long-Term Issuer Credit Rating of“ a” of RoyalStar Assurance Ltd.. The outlook of these Credit Ratings is stable. However, the company has a high dependence on reinsurance to manage capital exposure to catastrophic events, as is typical of Caribbean insurers.
The ratings actions follow the recent announcement by Priority Health that it has completed its acquisition of PHP. The upgrade to PHP’ s Long-Term ICR and positive outlook reflect enhancement from the financial and operational support implicitly provided by its new intermediate parent, Priority Health. Priority Health is a Grand Rapids, MI- based health…
Canadian Imperial Bank of Commerce. $Capped Leveraged Buffered Notes Linked to the Worst Performing of the SPDR ® Dow Jones ® Industrial Average SM ETF Trust and the SPDR ® S&P 500 ® ETF Trust due December 23, 2027. The notes will not constitute deposits insured by the Canada Deposit Insurance Corporation, the U.S. Federal Deposit Insurance Corporation, or…
On behalf of the Board of Directors and management of Capitol Federal Financial, Inc. ®, we cordially invite you to attend our annual meeting of stockholders. The meeting will be held at 10:00 a.m. local time on Tuesday, January 28, 2025, at the Bradbury Thompson Alumni Center on the WashbuUniversity campus, 1701 S.W. Jewell Avenue, Topeka, Kansas.
PHOENIX– Native Americans in Arizona and three other states could now see government health coverage for some traditional healing practices. On Oct. 16, the Biden administration announced it had expanded both Medicaid coverage and the Children’ s Health Insurance Program in Arizona, California, New Mexico and Oregon to cover traditional Native American…
Viewers can now access highlights from the AM Best- hosted webinar“ Loss Trends in Cyber Liability Insurance,” sponsored by Munich Re US. Rob Barlow, Cyber Underwriter, Munich Re US Maria Long, Vice President, Cyber Underwriter and Risk Management Portfolio Leader, Munich Re Specialty– Global Markets Carolyn Purwin Ryan, Partner, Data Privacy and Cybersecurity,…
DECEMBER 19, 2024| CHICAGO, IL- Ryan Specialty, a leading international specialty insurance firm, is pleased to announce that Shawn Yingling has joined its specialty underwriting segment, Ryan Specialty Underwriting Managers. Shawn will serve as Chief Retail Distribution Officer, bringing with him thirty-five years of diverse insurance experience from…
Prudential Financial, Inc. announced today that it has successfully closed a reinsurance transaction for a portion of its guaranteed universal life block with Wilton Re. Prudential Financial, Inc., a global financial services leader and premier active global investment manager with approximately $1.6 trillion in assets under management as of September…
Luigi Mangione agreed to return to New York to face a state murder charge Thursday at a morning court appearance in Pennsylvania where he was arrested after five days on the run. An entry from Aug. 15 said“ the target is insurance” because“ it checks every box,” according to the filing, while an Oct. 22 entry“ describes an intent to‘ wack’ the CEO of one of the insurance…
Continued Softness in Industrial Macro Environment. Source: S&P Global, Haver Analytics, Goldman Sachs Global Investment Research. Source: Board of Governors of the Federal Reserve System.
WASHINGTON- Americans hoping for lower borrowing costs for homes, credit cards and cars may be disappointed after this week's Federal Reserve meeting. The Fed's policymakers are likely to signal fewer interest rate cuts next year than were previously expected. "We're on the cusp of a transition to them not cutting every meeting," said David Wilcox, a former…
WASHINGTON– The Federal Reserve lowered its key interest rate by another quarter percentage point Wednesday but forecast a significantly slower pace of rate cuts next year following a recent inflation pickup and strong economic growth. Beth Hammack, head of the Federal Reserve Bank of Cleveland, dissented to Wednesday's decision, preferring to keep rates…
