M&As, Legal Settlements and Quarterly Results for Insurers - Research Report on American International Group, Allstate,

 M&As, Legal Settlements and Quarterly Results for Insurers - Research Report
on American International Group, Allstate, RenaissanceRe, American Financial,
                        and AmTrust Financial Services

Editor Note: For more information about this release, please scroll to bottom

  PR Newswire

  NEW YORK, June 3, 2013

NEW YORK, June 3, 2013 /PRNewswire/ --

Today, Wall Street Reports announced new research reports highlighting
American International Group, Inc. (NYSE: AIG), The Allstate Corporation
(NYSE: ALL), RenaissanceRe Holdings Ltd. (NYSE: RNR), American Financial Group
Inc. (NYSE: AFG), and AmTrust Financial Services, Inc. (NASDAQ: AFSI). Today's
readers may access these reports free of charge - including full price
targets, industry analysis and analyst ratings - via the links below.

American International Group, Inc. Research Report

On May 29, 2013, American International Group, Inc. (AIG), People's Insurance
Company Group of China Ltd. (PICC), and PICC Life Insurance Company Limited
(PICC Life), announced that they have entered into a joint venture to form an
agency distribution company in China. As per the agreement, AIG will own 24.9%
of the distribution company, with PICC Life holding the remaining 75.1%. Board
seats as well as management assignments will be based upon the share holdings.
"We are delighted to enter into this joint venture with PICC Life to provide
Chinese consumers life insurance and other financial products to enhance and
protect their overall quality of life," said Robert H. Benmosche, President
and CEO of AIG. AIG and PICC Life plan to commence operations of the joint
venture by Q1 2014. The exact timeline is subject to regulatory approval.
"Chinese consumers are changing the way they want to purchase and utilize
insurance products throughout their lifetimes, and we are confident that this
joint venture will be a leader in helping these consumers achieve this goal,"
said Wu Yan, Chairman of PICC. The Full Research Report on American
International Group, Inc. - including full detailed breakdown, analyst ratings
and price targets - is available to download free of charge at: [
http://www.wsreports.com/r/full_research_report/9060_AIG ]

--

The Allstate Corporation Research Report

On May 30, 2013, Bloomberg reported that The Allstate Corporation (Allstate)
and Citigroup Inc. (Citigroup) have agreed to settle a lawsuit filed by the
insurer accusing the bank of fraudulently selling hundreds of millions of
dollars of mortgage-backed securities. Allstate sued Citigroup in State
Supreme Court in Manhattan in 2011, along with other banks including Deutsche
Bank AG, Bank of America Corp. and Morgan Stanley. Allstate and Citigroup
settled the case on "mutually agreeable terms," Daniel L. Brockett, an
attorney with Quinn Emanuel Urquhart & Sullivan LLP representing Allstate,
said in an e-mail as per Bloomberg. The report also stated that in March 2013,
Justice Eileen Bransten denied bids by Morgan Stanley, Deutsche Bank and Bank
of America to dismiss Allstate's suits. In the case against Morgan Stanley,
Bransten rejected an argument that the lender is shielded from liability
because offering materials disclosed that representations about the loans were
based on information from the originators. The Full Research Report on The
Allstate Corporation - including full detailed breakdown, analyst ratings and
price targets - is available to download free of charge at: [
http://www.wsreports.com/r/full_research_report/551f_ALL ]

--

RenaissanceRe Holdings Ltd. Research Report

On May 1, 2013, RenaissanceRe Holdings Ltd. (RenaissanceRe) released its Q1
2013 results, posting net income of $190.5 million (or $4.23 per diluted
share), down from $201.4 million (or $3.88 per diluted share) in Q1 2012. The
Company registered revenue of $343.3 million, down from $356.5 million in Q1
2012. "We enjoyed strong first quarter results, with an annualized operating
ROE of 22.5% and 4.8% growth in tangible book value per share plus dividends
for the quarter," said CEO Neill A. Currie. "Our results reflect strong
underwriting profits, principally driven by our high-quality portfolio, the
absence of significant catastrophe losses in the quarter, and solid total
returns in our investment portfolio," added Currie. Gross premiums written in
the Reinsurance segment were $561.1 million, down $48.6 million or 8% YoY, due
to a $30.4 million decrease in the Company's catastrophe unit reflecting the
non-renewal or renewal at lower rates for a number of contracts during the
January 2013 renewals, and a decrease of $18.2 million in the Company's
specialty unit, primarily due to the timing of certain multi-year contracts in
Q1 2012. The Full Research Report on RenaissanceRe Holdings Ltd. - including
full detailed breakdown, analyst ratings and price targets - is available to
download free of charge at: [
http://www.wsreports.com/r/full_research_report/9d1f_RNR ]

--

American Financial Group Inc. Research Report

On May 8, 2013, American Financial Group Inc. (American Financial) released
its Q1 2013 results, posting net income of $120 million or $1.32 per share, up
from $113 million or $1.14 per share in Q1 2012. Core net operating earnings
were $84 million, compared to $85 million in Q1 2012. The Company stated that
the higher profit in the Company's annuity segment was offset by the absence
of earnings from its medicare supplement and critical illness businesses that
were sold in August 2012, an adjustment for certain share-based incentive
plans, and lower investment income in its property and casualty insurance
segment. "The year is off to a great start with record profitability in our
annuity operations and solid underwriting results in our property and casualty
businesses," said Co-CEOs of American Financial, S. Craig Lindner and Carl H.
Lindner III, in a joint statement. They further added, "We are pleased to see
the positive impact of maintaining spreads in our annuity business as well as
market firming in selected P&C markets, which has created opportunities for
higher growth and improved results in some of our P&C operations." The Full
Research Report on American Financial Group Inc. - including full detailed
breakdown, analyst ratings and price targets - is available to download free
of charge at: [ http://www.wsreports.com/r/full_research_report/a429_AFG ]

--

AmTrust Financial Services, Inc. Research Report

On May 14, 2013, AmTrust Financial Services, Inc. (AmTrust) announced that it
has completed the acquisition of Mutual Insurers Holding Company (MIHC) and
MIHC's subsidiary, First Nonprofit Insurance Company (FNIC), for an
undisclosed amount. "We are proud to announce the acquisition of FNIC, a
leading provider of insurance products and services to non-profit
organizations," said Barry Zyskind, President and CEO of AmTrust. Zyskind
added, "Backing FNIC's established non-profit customer relationships with our
Company's resources provides considerable opportunity to expand in the
attractive niche insurance market for non-profits. The acquisition of FNIC
supports our strategy of building our business and shareholder value." FNIC
offers low hazard insurance products to small, non-profit and government
entities, and is the third largest provider of property and casualty insurance
products to non-profit organizations in the US. In 2012, FNIC wrote $70
million of premiums in 27 states. The Full Research Report on AmTrust
Financial Services, Inc. - including full detailed breakdown, analyst ratings
and price targets - is available to download free of charge at: [
http://www.wsreports.com/r/full_research_report/e57c_AFSI ]

----

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