Business - Insurance Industry

NEW YORK - MBIA Inc. said Monday that it incurred heavier losses in its insurance business than expected, saddling the bond insurer with a third-quarter loss after two straight quarters of profits. Full Story »

SYDNEY/HONG KONG (Reuters) - French insurer AXA sought full control of its majority-owned Asian arm to get a tighter grip on the region's booming markets, and stuck with plans to grow in China in spite of regulatory obstacles there. Full Story »

FRANKFURT - German insurer Allianz SE said Monday it posted a net profit in the third quarter from a loss a year ago due to improved revenue in life and health insurance and financial services. Full Story »

WASHINGTON - The glow from a health care triumph faded quickly for President Barack Obama on Sunday as Democrats realized the bill they fought so hard to pass in the House has nowhere to go in the Senate. Full Story »

NEW YORK (Reuters) - AIG, the giant insurer bailed out by the U.S. government, posted its second straight quarterly profit, helped by recovery in the value of its investments, but its underlying business remained weak and its shares fell. Full Story »

INDIANAPOLIS - Managed care company Cigna Corp.'s third-quarter profit soared 92 percent, as improving equity markets spurred a big turnaround in a discontinued business that hurt the insurer last year. Full Story »

Health insurer WellPoint Inc. announced plans last spring to sell its pharmacy benefits management business to Express Scripts Inc. for about $4.68 billion. Analysts have wondered whether other managed care companies would consider a similar sale. Full Story »

NEW YORK (Reuters) - Health insurer Cigna Corp posted higher third-quarter profit on Thursday as strength in stock market investments boosted the value of variable annuity products in its reinsurance business. Full Story »

ZURICH (AFP) - Swiss insurance group Zurich Financial Services said Thursday its net profit had declined by 24 percent in the first nine months of the year despite a sharp revival in its third quarter fortunes. Full Story »

RICHMOND, Va. - Specialty insurer Markel Corp. on Wednesday posted a third-quarter profit, reversing a year ago loss, as the company benefited from market gains, a mild hurricane season and strong international operations. Full Story »

NEW YORK (Reuters) - Prudential Financial Inc , the No. 2 U.S. life insurer, said on Wednesday it had a third-quarter profit, reversing a year earlier loss, on record annuity sales and better performance in its investment portfolios. Full Story »

NEW YORK (Reuters) - Allstate Corp , the largest publicly traded U.S. home and auto insurer, swung to a profit on Wednesday from a year ago loss, helped by lower catastrophe and investment losses. Full Story »

RALEIGH, N.C. - North Carolina businesses will pay nearly 10 percent less next year for workers' compensation insurance under an agreement between the insurance industry and state regulators. Full Story »

The Senate health care committee chairman said Tuesday the panel is investigating how health insurers price the coverage they sell to small businesses, which have struggled for years with soaring premiums. Full Story »

INDIANAPOLIS - Managed care company Aetna Inc. said Tuesday it has completed a $70 million acquisition of employee assistance program provider Horizon Behavioral Services LLC. Full Story »

LOUISVILLE, Ky. - Health insurer Humana Inc. rode its strong government business in posting a 65 percent jump in third-quarter profit Monday, as bulging membership and premiums from Medicare Advantage overcame a lackluster commercial segment hampered by the weak economy. Full Story »

LOS ANGELES - Auto and home insurer Mercury General Corp. on Monday posted a third-quarter profit in contrast to a year-ago loss, reflecting better investment performance and lower claims paid this year. Full Story »

NEW YORK (Reuters) - Health insurer Humana Inc forecast profit to fall next year due in part to pressure on margins as it sees lower government reimbursement for its Medicare plans for the elderly. Full Story »