M&A Deals, Workforce Reductions, Divestures, and Licensing Agreements - Research Report on American International Group, Allstate, The Hartford Financial Services Group, Progressive and ING U.S. Editor Note: For more information about this release, please scroll to bottom. PR Newswire NEW YORK, July 5, 2013 NEW YORK, July 5, 2013 /PRNewswire/ -- Today, Wall Street Reports announced new research reports highlighting American International Group, Inc. (NYSE:AIG), The Allstate Corporation (NYSE:ALL), The Hartford Financial Services Group, Inc. (NYSE:HIG), The Progressive Corporation (NYSE:PGR) and ING U.S. Inc. (NYSE:VOYA). 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 July 2, 2013, American International Group, Inc. (AIG) announced that it has retired the Chartis brand in Canada effective July 1, 2013, and informed that the AIG Property Casualty insurance business in Canada will operate as AIG Insurance Company of Canada (AIG Canada) going forward. On the same day, AIG Canada also announced the launch of a new bilingual website tailored to inform and meet the needs of the Canadian market. Robert H. Benmosche, President and CEO of AIG said, "The re-launch of the AIG name marks a significant achievement for our company. AIG's new brand promise, 'Bring on tomorrow' underscores AIG's tenacity and ambition - to solve problems, to innovate for the benefit of our clients, and to act as a powerful, global team." AIG claimed that the policyholders of AIG Canada will continue to benefit from the same underwriting and claims expertise, as well as the same financial strength - as shown by the S&P "A+" stable rating, Moody's "A1" stable rating and AM Best "A" stable rating that are currently assigned to the company. 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 July 3, 2013, Bloomberg reported that home and auto insurer, Allstate Corporation (Allstate) plans to cut about 379 employees or about 1% of its workforce, by closing a call center in Woodridge, Illinois. Company spokesperson, Chris Bauer told Bloomberg that the call center is scheduled to close on August 11, 2013. "More of our calls are now being sent directly to our agencies," Bauer said. "This has resulted in lower call volumes to our call centers, so the difficult decision was made." According to Bloomberg, the Illinois Department of Commerce and Economic Opportunity reported that Allstate had notified the state in June 2013 that it will cut 348 jobs in Woodridge next month and 31 in Northbrook. 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] -- The Hartford Financial Services Group, Inc. Research Report On June 27, 2013, The Hartford Financial Services Group, Inc. (Hartford) announced that it has sold its subsidiary, Hartford Life International Limited (HLIL) to Columbia Insurance Company, for c.$285 million in cash. At the close of the sale, Hartford stated that HLIL's only asset will be its subsidiary, Hartford Life Limited (HLL), a Dublin-based company. Further, the Company informed that the transaction is expected to result in a net loss of approximately $110 million, after-tax (calculated under U.S. GAAP), in Q2 2013. "The Hartford has made significant progress reducing the size and risk of Talcott Resolution's legacy variable annuity blocks and the business unit is now self-sufficient from a capital perspective," said Hartford EVP and CFO Christopher J. Swift. "We are pleased with the outcome of the competitive bidding process, which reflects our criteria of executing transactions on terms that are attractive to The Hartford." The Full Research Report on The Hartford Financial Services 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/eb10_HIG] -- The Progressive Corporation Research Report On June 28, 2013, The Progressive Corporation (Progressive) announced that it is entering into a licensing agreement with United Services Automobile Association (USAA) for intellectual property related to usage-based car insurance programs. "We have found that key driving behaviors predict the likelihood of a claim far better than traditional insurance rating variables alone," said John Sauerland, Progressive Personal Lines Group President. "As insurers realize the benefits UBI offers consumers, it's critical they deliver programs that reflect responsible intellectual property practices, which includes licensing the appropriate IP." According to a Bloomberg report dated June 29, 2013, Progressive has patented a device that collects driving data and calculates coverage based on a motorist's habits. The technology accounts for more than $1 billion in Progressive's premiums and as per the report, USAA can begin using Progressive's technology in April 2015. The Full Research Report on The Progressive 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/1a43_PGR] -- ING U.S. Inc. Research Report On July 1, 2013, ING U.S. Inc. (ING U.S.) announced that it has been added to the Russell 1000 and Russell Global Indexes, following Russell Investments' annual reconstitution of its comprehensive set of U.S. and global equity indexes after the close of equity markets on June 28, 2013. "Following our initial public offering in May, we're pleased to now be a part of both the Russell 1000 and Russell Global Indexes," said Chairman and CEO Rodney O. Martin, Jr. "We're excited about the future as we pursue our vision to be America's Retirement Company, and we look forward to the broader representation ING U.S. will have by being a part of these two indexes." The Full Research Report on ING U.S. 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/9132_VOYA] ---- EDITOR NOTES: 1.This is not company news. We are an independent source and our views do not reflect the companies mentioned. 2.Information in this release is fact checked and produced on a best efforts basis and reviewed by a CFA. However, we are only human and are prone to make mistakes. 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M&A Deals, Workforce Reductions, Divestures, and Licensing Agreements - Research Report on American International Group,
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