CNA Financial Announces Fourth Quarter 2011 Results: Net Operating Income of $191 Million, Net Income of $190 Million, P&C Combined Ratio of 87.2%
CHICAGO–(BUSINESS WIRE)–CNA Financial Corporation (NYSE: CNA) today announced fourth quarter 2011 results, which included net operating income of $191 million, or $0.71 per common share, and net income of $190 million, or $0.70 per common share. Full year 2011 net operating income and net income were $614 million, or $2.28 per common share. Property & Casualty Operations combined ratio for the fourth quarter and full year 2011 were 87.2% and 98.4% respectively. Book value per common share
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CNA Financial Announces Fourth Quarter 2011 Results: Net Operating Income of $191 Million, Net Income of $190 Million, P&C Combined Ratio of 87.2%
CNA Financial Announces Fourth Quarter 2011 Results: Net Operating Income of $191 Million, Net Income of $190 Million, P&C Combined Ratio of 87.2%
CHICAGO–(BUSINESS WIRE)–CNA Financial Corporation (NYSE: CNA) today announced fourth quarter 2011 results, which included net operating income of $191 million, or $0.71 per common share, and net income of $190 million, or $0.70 per common share. Full year 2011 net operating income and net income were $614 million, or $2.28 per common share. Property & Casualty Operations combined ratio for the fourth quarter and full year 2011 were 87.2% and 98.4% respectively. Book value per common share
Fitch Upgrades CNO Financial’s Ratings
CHICAGO–(BUSINESS WIRE)–Fitch Ratings has upgraded the ratings assigned to CNO Financial Group, Inc. (CNO Financial) and its core insurance subsidiaries. The ratings on CNO Financial’s senior secured debt issue and Conseco Life Insurance Company remain unchanged. The Rating Outlook is Stable. See the full ratings list at the end of this release. Today’s rating action reflects CNO Financial’s improved capital position, earnings profile, and financial flexibility. Statutory capitalization at the
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Fitch Upgrades CNO Financial’s Ratings
Discover Financial Services to Present at Keefe, Bruyette & Woods Cards, Payments and Financial Technology Symposium
RIVERWOODS, Ill.–(BUSINESS WIRE)–Roger Hochschild, president and chief operating officer of Discover, will present at the Keefe, Bruyette & Woods Cards, Payments and Financial Technology Symposium in New York on Thursday, Feb. 16, 2012, at 8:45 a.m. Eastern time. A listen-only audio webcast will be posted on the day of the conference to http://investorrelations.discoverfinancial.com/. An archived replay will be available for 60 days after the conference at the same website address. About D
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Discover Financial Services to Present at Keefe, Bruyette & Woods Cards, Payments and Financial Technology Symposium
A.M. Best Affirms Ratings of American Service Pool
OLDWICK, N.J.–(BUSINESS WIRE)–A.M. Best Co. has affirmed the financial strength rating of B (Fair) and issuer credit ratings (ICR) of “bb” of American Country Insurance Company (American Country) and American Service Insurance Company, Inc. (American Service) (both domiciled in Elk Grove, IL). Both companies are members of the American Service Pool (ASI Pool). Concurrently, A.M. Best has affirmed the ICR of “b-” of Atlas Financial Holdings, Inc. (Atlas) (Cayman Islands) [TSXV: AFH], the ASI Po
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A.M. Best Affirms Ratings of American Service Pool
Fitch Places First Commonwealth Financial Corp’s IDRs on Negative Watch
CHICAGO–(BUSINESS WIRE)–Fitch Ratings has placed the Issuer Default Ratings (IDRs) of ‘BBB/F2′ for First Commonwealth Financial Corp. (FCF) and its lead bank subsidiary, First Commonwealth Financial Bank, on Rating Watch Negative. A complete list of ratings follows this release. The Rating Watch reflects both the increased asset quality stress reported in fourth quarter 2011 (4Q’11) as well as uncertainties regarding FCF’s strategic direction and capital management in view of recent and potent
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Fitch Places First Commonwealth Financial Corp’s IDRs on Negative Watch
Fitch Downgrades Ratings of Sun Life Financial Inc.’s U.S. Subsidiaries; Outlook Negative
CHICAGO–(BUSINESS WIRE)–Fitch Ratings has downgraded the Insurer Financial Strength (IFS) ratings of Sun Life Financial Inc.’s (TSE, NYSE: SLF) U.S. life insurance subsidiaries to ‘A-’ from ‘AA-’. At the same time, Fitch has affirmed the ratings of SLF including all outstanding issues, as well as the IFS ratings of SLF’s primary Canadian life insurance subsidiary at ‘AA-’. The Rating Outlook is Negative. A complete list of ratings follows at the end of this release. The downgrade of the U.S. l
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Fitch Downgrades Ratings of Sun Life Financial Inc.’s U.S. Subsidiaries; Outlook Negative
TCF Inventory Finance Announces Further Expansion into Recreation Vehicle Industry
SCHAUMBURG, Ill.–(BUSINESS WIRE)–TCF Inventory Finance, Inc. (“TCFIF”), a subsidiary of TCF National Bank and an indirect subsidiary of TCF Financial Corporation (“TCF”) (NYSE: TCB), today announced plans to further expand its floorplan finance offerings into the recreation vehicle (“RV”) industry within the U.S. and Canada. Established in 2008, TCFIF has gained significant market share in the electronics and appliances industry as well as the lawn and garden industry. In the powersports indus
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TCF Inventory Finance Announces Further Expansion into Recreation Vehicle Industry
Fitch: PNC’s 4Q’11 Results Surprising but Still Good
CHICAGO–(BUSINESS WIRE)–PNC Financial Services Group, Inc. (PNC) reported a surprising 40% drop in net income on a sequential basis, mainly driven by large one-time items related to mortgage foreclosure-related expenses and the redemption of trust preferred securities (TRUPS). Excluding the $129 million after-tax charge related to the redemption of the TRUPS, PNC’s pro forma return on assets (ROA) would have been approximately 0.92% for the quarter, down from 1.24% earned in third quarter 2011
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Fitch: PNC’s 4Q’11 Results Surprising but Still Good
CNA Financial to Report Fourth Quarter and Full-Year 2011 Results and Host Conference Call on February 6
CHICAGO–(BUSINESS WIRE)–CNA Financial Corporation (NYSE: CNA) will report fourth quarter and full-year 2011 results on Monday, February 6, 2012. The news release will be available on CNA’s website at www.cna.com. A conference call for investors and analysts is scheduled for 10:00 a.m. (ET) and will be hosted by Thomas F. Motamed, chairman and chief executive officer of CNA Financial Corporation. A live webcast will be available at http://investor.cna.com. Those interested in participating in t
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CNA Financial to Report Fourth Quarter and Full-Year 2011 Results and Host Conference Call on February 6
