Latest Insurance News

Your MONEY: Paying Insurance Monthly is Worst Policy ; CASHPOINT

By John Husband FIRMS are fleecing customers who pay car and home insurance policies monthly out of pounds 2billion a year. The car insurer charges an average of 22.7 per cent interest, a survey by MoneyExpert.com reveals. That adds more than pounds 90 to the typical pounds 806 motor policy. The survey found that 11 out of 12 car insurers are charging interest for monthly payment. Another report by Abbey shows that nearly half its rival home insurers charge an average 19 per cent for mo...

Geico to Hire 230 at Call Center

By SHELLEY SHELTON, ARIZONA DAILY STAR Insurance giant Geico said Thursday it is planning to hire about 230 policy-service and claim-service representatives at its Tucson office by the end of the year. The jobs start at $14 an hour, potentially more for candidates who can work evenings. Geico opened its customer- service operations center at 930 N. Finance Center Drive in 2003, and it has grown to more than 600 employees. In September, the company announced plans to add 600 Tucson jobs ...

Admiral Record

By Sion Barry Motor insurance group Admiral yesterday reported record end-of- year profits of pounds 147.3m. The Cardiff and Swansea-based London Stock Exchange-listed company also confirmed a move into the lucrative German car insurance market, after successfully launching in Spain last year.: FROM BUSINESS IN WALES: Admiral overtakes rivals on profits super-highway:Motor insurance group Admiral yesterday confirmed its place in the fast lane of business after reporting record end-of-year p...

State Farm Plans Dividends for Okla. Policyholders

State Farm Mutual Automobile Insurance plans to issue dividends totaling $21.4 million to policyholders in Oklahoma.State Farm Mutual policyholders in 46 states, the District of Columbia and the Canadian province of New Brunswick will receive a total of $1.25 billion in the company's latest policyholder dividend declaration.Although the amounts will vary significantly, the average dividend per vehicle in Oklahoma is $38.....We are unable to display this entire news item because this article's...

Admiral Sets Sail for Foreign Waters As Profits Soar 23pc

By LUCY FARNDON NOT only has car insurer Admiral been an incredible investment for shareholders, but is good fortune is being spread far and wide. Chief operating officer David Stevens, and his wife Heather, have donated Pounds 100m worth of shares to The Waterloo Foundation, a charitable organisation that they recently set up. Their generosity is startling, though they will still be sitting on a share pile worth Pounds 100m. Admiral's staff are also in the money. Since they were give...

Promina Shareholders Endorse Takeover By Suncorp BUSINESS ASIA By Bloomberg

By Kevin Foley and Joyce Moullakis John Mulcahy, chief executive officer of Suncorp-Metway, will choose an executive team and proceed with a share sale after Promina Group investors Monday approved a 7.5 billion Australian dollar, or $5.9 billion, takeover bid. Promina shareholders voted in favor of the offer at a meeting in Sydney. The acquisition by the Brisbane-based Suncorp, which will become Australia's second-largest car and home insurer, is the biggest takeover in the nation's fina...

Morning Briefs

ST. JOE ADJUSTS EARNINGS IN FOURTH QUARTER The St. Joe Co. revised down its fourth quarter 2006 earnings by about $1.5 million after an unfavorable judicial decision late last month in a decade-old sales commission dispute. The company is modifying its litigation reserves as a result of the decision. The company's fourth quarter earnings now stand at $22.3 million, a 6 percent decline from the previous statement. Its new 2006 earnings are $51 million. Joe Light/The Times-Union STATE F...

[ Big Picture ]

State Farm offers $60 million boost BLOOMINGTON - State Farm Mutual Automobile Insurance Co. said Thursday its auto insurance policyholders in Illinois will receive dividends totaling $60 million. Policyholders in 46 states, the District of Columbia and the Canadian province of New Brunswick will receive a total of $1.25 billion. Illinois policyholders will receive 7.5 percent of their semi-annual premium. Although the amounts will vary, the average dividend per vehicle in Illinois is $25. ...

[ Local Focus ]

Methode stock soars on strong earnings CHICAGO - Methode Electronics Inc.' s stock skyrocketed in Friday trading on the Nasdaq after it said fiscal 2007 third quarter profit surged 67 percent. Shares were up as much as 26 percent before closing at $11.87, up 12 percent. In the three-month period, the electronics parts maker earned $4.7 million, or 13 cents a share, vs. $2.8 million, or 8 cents, a year ago. Sales rose 11 percent to $105.4 million, boosted by the company's power distribution ...

Senators Rebuff Auto Insurance Criteria Change ; Foes Say Plan Would Increase Rates

By TOM HESTER Jr., THE ASSOCIATED PRESS TRENTON A bid to make it illegal for New Jersey auto insurers to use a driver's job and education to decide rates failed Monday. The Senate Commerce Committee voted against releasing a proposal to ban car insurers from weighing such factors. The defeat came after a member of Governor Corzine's administration and insurers argued the bill would impair competition and drive up rates after recent changes have helped bring more insurers to the state, w...