NEW YORK, January 27, 2017 /PRNewswire/ --
Stock-Callers.com has issued research reports on these Property and Casualty Insurance companies: American International Group Inc. (NYSE: AIG), MGIC Investment Corp. (NYSE: MTG), Berkshire Hathaway Inc. (NYSE: BRK-B), and The Progressive Corp. (NYSE: PGR). According to Deloitte's 2017 P&C sector outlook, insurers are starting the year with a strong financial base with average capital and surplus at its highest levels in ten years. However, excess capacity is undermining profitability, as seen by falling net income and return on average equity. Learn more about these stocks by accessing their free research reports at:
On Thursday, shares in New York-based American International Group Inc. recorded a trading volume of 4.86 million shares. The stock ended the session 0.46% higher at $66.02. The Company's shares have gained 9.58% in the previous three months and 1.09% on an YTD basis. The stock is trading 1.14% above its 50-day moving average and 12.52% above its 200-day moving average. Moreover, shares of American International Group, which provides insurance products and services for commercial, institutional, and individual customers in the Americas, the Asia/Pacific, Europe, the Middle East, and Africa, have a Relative Strength Index (RSI) of 51.60.
On January 06th, 2017, research firm Credit Suisse upgraded the Company's stock rating from 'Neutral' to 'Outperform'.
On January 20th, 2017, the Company announced that it has entered into a binding term sheet for an adverse development reinsurance agreement, effective January 01st, 2016, with National Indemnity Company, a subsidiary of Berkshire Hathaway Inc. The agreement covers 80% of substantially all of American International Group's US Commercial long-tail exposures for accident years 2015 and prior, which includes the largest part of AIG's US casualty exposures during that period. The consideration for this agreement is $9.8 billion payable in full by June 30th, 2017, with interest at 4% per annum from January 01st, 2016 to date of payment. Free research report on AIG is available at:
Milwaukee, Wisconsin headquartered MGIC Investment Corp.'s stock closed the day 0.95% lower at $10.38 with a total trading volume of 4.58 million shares. The Company's shares have advanced 21.69% in the previous three months and 1.86% since the start of this year. The stock is trading 4.76% and 30.19% above its 50-day and 200-day moving averages, respectively. Additionally, shares of MGIC Investment, which through its subsidiaries, provides private mortgage insurance and ancillary services to lenders and government sponsored entities in the US, have an RSI of 55.46.
On January 24th, 2017, Mortgage Guaranty Insurance Corporation, the principal subsidiary of MGIC Investment, announced the promotion of James Hughes to Executive Vice President - Sales and Business Development, and Salvatore Miosi to Executive Vice President - Business Strategy and Operations. The complimentary research report on MTG can be downloaded at:
Shares in Omaha, Nebraska-based Berkshire Hathaway Inc. recorded a trading volume of 3.13 million shares. The stock ended yesterday's trading session 0.41% higher at $164.92. The Company's shares have advanced 14.99% in the previous three months and 1.19% on an YTD basis. The stock is trading above its 50-day and 200-day moving averages by 1.99% and 10.67%, respectively. Furthermore, shares of Berkshire Hathaway, which through its subsidiaries, primarily engages in the insurance and reinsurance of property and casualty risks business, have an RSI of 60.64.
On January 16th, 2017, Berkshire Hathaway Specialty Insurance Company, a unit of Berkshire Hathaway, announced that it has received a license from Labuan FSA to provide non-life reinsurance to the Malaysian market. The Company also established a new office in Kuala Lumpur and named Gaithrie Nandrajog as Branch Manager and Koo Kang Wuu as Executive & Professional Lines and Business Development Manager in Malaysia. Visit us today and access our complete research report on BRK-B at:
Mayfield Village, Ohio headquartered The Progressive Corp.'s stock finished Thursday's session 0.71% higher at $38.04 with a total trading volume of 2.77 million shares. The Company's shares have advanced 6.85% in the last one month, 19.36% over the previous three months, and 7.15% on an YTD basis. The stock is trading above its 50-day and 200-day moving averages by 9.06% and 14.90%, respectively. Additionally, shares of Progressive, which through its subsidiaries, provides personal and commercial property-casualty insurance, and other specialty property-casualty insurance and related services primarily in the US, have an RSI of 80.24.
On January 10th, 2017, research firm Goldman upgraded the Company's stock rating from 'Sell' to 'Neutral'.
On January 25th, 2017, Progressive reported net income of $383.2 million, or 0.66 per share, for Q4 2016. The Company recorded net premiums written of $5.55 billion in Q4 2016, up 15% from $4.84 billion in Q4 2015. Net premiums earned were approximately $5.87 billion, up 14% on a y-o-y basis from $5.17 billion in Q4 2015. Get free access to your research report on PGR at:
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