With only two days left before the Treasury runs out of authority to borrow money, White House Press Secretary Jay Carney said Tuesday afternoon that a deal to raise the debt ceiling and end the government shutdown was “still far off.”
Carney said during his daily briefing that while the administration was “encouraged by the progress we’ve seen in the Senate … we’re far from a deal at this point.”
House Republican leaders pulled the plug Tuesday afternoon on their own plan that they had announced only hours before. House GOP leaders said the plan they floated, which would deprive members of Congress, the president, the vice president and White House political appointees of government contributions when they buy health insurance under the Affordable Care Act’s new exchanges, would likely fail to muster enough votes.
House Speaker John Boehner, R-Ohio, said that House Republicans had made “no decisions about what exactly we will do." Said Boehner: “We’re trying to find a way forward in a bipartisan way that would continue to provide fairness to the American people under Obamacare.”
Hot Chemical Companies To Buy For 2015: ING Groep NV (ISP)
ING Groep N.V. (ING) is a global financial institution offering banking, investments, life insurance and retirement services to meet the needs of the customers. The Company�� segments include banking and insurance. Banking segment includes retail Netherlands, retail Belgium, ING direct, retail central Europe (CE), retail Asia, commercial banking (excluding real estate), ING real estate and corporate line banking. Insurance segment includes insurance Benelux, insurance central and rest of Europe (CRE), insurance United States (US), Insurance US closed block VA, insurance Asia/Pacific, ING investment management (IM) and corporate line insurance. In November 2013, the Company completed the sale of ING Hipotecaria to Banco Santander (Mexico), S.A. In December 2013, the Company completed the sale of its 33.3% interest in China Merchants Fund to its joint venture partners China Merchants Bank Co Ltd and China Merchants Securities Co Ltd, and divested ING Life Korea to MBK Partners. Advisors' Opinion:- [By Tom Stoukas]
UniCredit SpA and Intesa Sanpaolo SpA (ISP), Italy�� biggest banks, dropped more than 1 percent as the nation�� benchmark FTSE MIB Index slid 1.2 percent. Rio Tinto Group led mining companies lower after a measure of Chinese manufacturing missed a preliminary estimate. Aryzta AG rallied the most in six months as the Swiss supplier of bakery products reported results that topped projections.
Hot Insurance Stocks To Watch Right Now: National Health Partners Inc (NHPR)
National Health Partners, Inc., incorporated on March 10, 1989, is a national healthcare membership organization that was formed to address the need for affordable healthcare nationwide. The Company creates, markets and sells membership programs targeted toward underserved markets in the healthcare industry through a national healthcare savings network called CARExpress. CARExpress is a network of over 1,000,000 participating hospitals, doctors, dentists, pharmacists and other healthcare providers that have agreed to render their services and products to the Company's members at discounted prices. CARExpress enables the Company's members to engage in point-of-service transactions directly with participating healthcare providers and pay discounted prices.
The Company has designed membership programs that range from its traditional health discount programs that provide access to networks of providers that have agreed to provide its members with a reduced rate for services, to membership programs that include limited liability insurance benefits. The Company offers two families of CARExpress membership programs to its members, its CARExpress health discount programs, and its CARExpress Plus membership programs.
The Company's CARExpress health discount programs consists of healthcare, including physicians, hospitals, ancillary services, dentists, prescription drugs, vision care, hearing aids, chiropractic services, alternative care, 24-hour nurseline, medical supplies and equipment, and long-term care facilities, which include skilled nursing facilities, assisted living facilities, respite care and home health care. The Company provides its members with access to over 1,000,000 healthcare providers through its agreements with CareMark, Aetna, Optum, Outlook Vision, Integrated Health, Three Rivers, International Med-Care and HealthFi International.
The Company's CARExpress Plus programs are membership programs consists of the Company's CARExpress health discount progr! ams and limited liability insurance benefits underwritten by United States.The limited liability insurance benefits included in these programs are accidental death and dismemberment coverage (AD&D), accident medical expense coverage (AME), accident disability coverage, a daily hospital and intensive care unit (ICU) benefit, doctor visit benefits, inpatient/outpatient surgical visit benefits, as well as emergency room and ambulance benefits. With CARExpress Plus, the Company's health discount programs provide its members with a point of service discount on their healthcare expenses at the time of service. The Company offers three standard CARExpress Plus programs, which include CARExpress Plus Platinum Program, CARExpress Plus Gold Program and CARExpress Plus Silver Program.
The Company competes with Alliance HealthCard, Inc., AmeriPlan, Best Benefits, Careington International, Family Care, Full Access Medical, International Association of Businesses, New Benefits, Inc. and People's Benefit Services.
Advisors' Opinion:- [By Peter Graham]
Last Friday, small cap stocks National Health Partners, Inc (OTCMKTS: NHPR) surged 816.7% while Timios National Corp (OTCMKTS: HOMS) and Medical Care Technologies Inc (OTCMKTS: MDCE) sank 32.28% and 25%, respectively. So what will these three small caps do for investors and traders this week? Here is a closer look to help you decide on a trading strategy:
National Health Partners, Inc (OTCMKTS: NHPR) Surged 816.7% On FridaySmall cap National Health Partners is a national healthcare savings organization that provides discount healthcare membership programs to uninsured and underinsured people through a national healthcare savings network called "CARExpress." On Friday, National Health Partners surged 816.7% to $0.044 for a market cap of $107,933 plus NHPR is down 78% over the past year and up 923.3% since June 2012 according to Google Finance.
Hot Insurance Stocks To Watch Right Now: Genworth Financial Inc (GNW)
Genworth Financial, Inc., a financial security company, provides insurance, wealth management, investment, and financial solutions in the United States and internationally. The company offers various insurance and fixed annuity products, including life and long-term care insurance products; payment protection insurance products for consumers primarily to meet specified payment obligations; and wealth management products, such as managed account programs with advisor support and financial planning services. It also provides mortgage insurance products and related services to insure prime-based, individually underwritten residential mortgage loans or flow mortgage insurance; and mortgage insurance on a structured or bulk basis, as well as offers services, analytical tools, and technology that enable lenders to operate and manage risk. In addition, the company provides institutional products consisting of funding agreements, funding agreements backing notes, and guaranteed in vestment contracts. Genworth Financial, Inc. distributes its products and services through financial intermediaries, advisors, independent distributors, affinity groups, and sales specialists. The company was founded in 2003 and is headquartered in Richmond, Virginia.
Advisors' Opinion:- [By Jon C. Ogg]
The first list of 24/7 Wall St. stocks under book value for the month of August are Apache Corp. (NYSE: APA), Fresh Del Monte Produce Inc. (NYSE: FDP), Genworth Financial Inc. (NYSE: GNW), Ingram Micro Inc. (NYSE: IM) and JetBlue Airways Corp. (NASDAQ: JBLU). We generally have�focused on net asset values and tangible book values, as well as forward price-to-earnings multiples, share price performance, analyst expectations via the Thomson Reuters consensus price target and more.
- [By Ben Levisohn]
Genworth Financial (GNW) has plunged 23% to $10.86 after the insurance company suffered a massive loss due to the rising costs of its long-term care insurance business.
- [By Mani]
[Related -Genworth Financial (GNW): This Hot Financial Stock Still Has 70% Upside]
The company could get additional capital in the following ways, which may be used for dividends and share repurchases.
- [By Sue Chang and Saumya Vaishampayan]
Genworth Financial Inc. (GNW) �shares added 4%. The insurer on Wednesday said it plans to expand and restructure its sales team this year to better work with mortgage originators.
Hot Insurance Stocks To Watch Right Now: Unum Group(UNM)
Unum Group, together with its subsidiaries, provides group and individual disability insurance products primarily in the United States and the United Kingdom. It also provides a portfolio of other insurance products, including employer-and employee-paid group benefits, life insurance, long-term care insurance, and related services. Its products include group long-term and short-term disability; group life and accidental death, and dismemberment; individual disability; group long-term care; voluntary benefits; group life; accident, sickness, and disability; and cancer and critical illness insurance products. The company also provides individual life and corporate-owned life insurance, reinsurance pools and management operations, group pension, health insurance, and individual annuities. Unum Group markets its products primarily to employers interested in providing benefits to their employees. The company sells its products through field sales personnel, independent brokers, consultants, and agency sales force. Unum Group was founded in 1848 and is based in Chattanooga, Tennessee.
Advisors' Opinion:- [By Rich Duprey]
Specialty insurance provider�Unum (NYSE: UNM ) announced yesterday its third-quarter dividend of $0.145 per share, an 11% increase to the payout made last quarter of $0.13 per share.
- [By Ben Levisohn]
Among the biggest losers in the S&P 500: Air Products and Chemicals (APD), which dropped 3.3% to $103.20 as its Bill Ackman bounce fades, Charles Schwab (SCHW), which fell 2.4% to $21.76 as it became the 165th most popular short in the S&P 500, and Unum Group (UNM), which finished off 2.3% at $29.63 after Barron’s Sandra Ward recommended investors take profits on the insurance company.
Hot Insurance Stocks To Watch Right Now: Marsh & McLennan Companies Inc. (MMC)
Marsh & McLennan Companies, Inc., a professional services company, provides advice and solutions in the areas of risk, strategy, and human capital. It operates in two segments, Risk and Insurance Services, and Consulting. The Risk and Insurance Services segment provides risk management and insurance broking, reinsurance broking, and insurance program management services for businesses, public entities, insurance companies, associations, professional services organizations, and private clients. The Consulting segment offers advice and services to the managements of organizations in the area of human resource consulting, comprising retirement and investments, health and benefits, outsourcing and talent; and strategy and risk management consulting, such as management, economic, and brand consulting. The company also provides investment consulting services for endowments and foundations in the United States; health and benefit recordkeeping, and employee enrollment technology; human resource knowledge, data, and solutions for professionals in various industries; and Medicaid policy consulting services. It principally serves customers in the United States, the United Kingdom, the Asia Pacific, and Continental Europe. Marsh & McLennan Companies, Inc. was founded in 1871 and is headquartered in New York, New York.
Advisors' Opinion:- [By Ben Levisohn]
Progressive (PGR) was downgraded from Strong Buy to Market Perform at Raymond James, while Marsh & McLennan (MMC) was cut to Outperform from Strong Buy.
- [By Keith Speights]
Flourishing
While the federal Obamacare exchanges flail, private health insurance exchanges are flourishing. For example,�Mercer, a subsidiary of Marsh & McLennan Companies (NYSE: MMC ) ,�announced in April that several large insurers -- including Aetna, Cigna, Humana, and UnitedHealthcare -- would be part of its Mercer Marketplace private exchange. Mercer Marketplace allows employers to contribute a defined amount for its employees to use on health coverage. Employees use the system to shop around for the insurance plans that best meet their needs. - [By Reuters]
Wendy Maeda/The Boston Globe via Getty Images NEW YORK -- Walgreen is moving 120,000 employees to a private health insurance exchange from coverage provided directly from carriers, the company will announce Wednesday. The pharmacy chain will join 17 other large employers on the Aon Hewitt Corporate Health Exchange as part of a growing movement to offer employees fixed dollar amounts to purchase their own plans on such exchanges. The end-cost to employees depends on the plan chosen, but they typically get more options than under traditional arrangements. Private exchanges mimic the coverage mandated as part of the Affordable Care Act. Enrollment in the public exchanges starts Oct. 1. "What happens to employer contributions over time? Will they put in as much as they put in the past? These are unanswered questions but potential negatives," says Paul Fronstin, a senior research associate with the Employee Benefit Research Institute. The benefit to Walgreen and other employers is unknown at this point, as their cost-savings aren't clear. Of the 180,000 Walgreen (WAG) employees eligible for health care insurance, 120,000 opted for coverage for themselves and 40,000 family members. Another 60,000 employees, many of them working part-time, weren't eligible for health insurance. Aon Hewitt (AON) says other participants in its program include retailer Sears Holding (SHLD) and Darden Restaurants (DRI). These new additions raise enrollment to 330,000 from 100,000 last year, and Aon Hewitt estimates enrollment will jump to 600,000 next year, a fivefold increase from 2012. By 2017, nearly 20 percent of employees nationwide could get their health insurance through a private exchange, according to Accenture Research (ACN). A recent report by the National Business Group on Health said that 30 percent of large employers are considering moving active employees to exchanges by 2015. Other major providers of private exchanges include Mercer, a division of Marsh & Mc
- [By Dan Caplinger]
The real test for Obamacare
In any event, the biggest challenge that Obamacare faces is getting its Health Insurance Marketplace up and running by Oct. 1. Although private exchanges from Marsh & McLennan (NYSE: MMC ) subsidiary Mercer as well as Towers Watson (NYSE: TW ) have done a good job of getting Aetna, UnitedHealth, and other popular insurers to participate in their programs, the reception that public exchanges have gotten has been far less favorable. Without a smooth launch in less than three months, Obamacare could find itself facing much greater criticism than it is today.
Hot Insurance Stocks To Watch Right Now: Kemper Corp (KMPR)
Kemper Corporation (Kemper), formerly Unitrin, Inc., incorporated in 1990, is a diversified insurance holding company, with subsidiaries that provide life, health, automobile, homeowners and other insurance products to individuals and small businesses. The Company is engaged, through its subsidiaries, in the property and casualty insurance, life and health insurance and automobile finance businesses. The Company conducts its operations through four operating segments: Kemper Preferred (Preferred), Unitrin Specialty (Specialty), Unitrin Direct (Direct) and Life and Health Insurance. On September 14, 2011, its subsidiary, Fireside Bank sold its loan portfolio to a subsidiary of Consumer Portfolio Services, Inc.
Property and Casualty Insurance Business
The Company's property and casualty insurance business operations are primarily conducted through the Preferred, Specialty and Direct segments. In addition, the Life and Health Insurance segment�� career agents also sell property insurance to its customers. Its insurance subsidiaries operating in the Preferred, Specialty and Direct segments provide automobile, homeowners, fire, and other types of property and casualty insurance to individuals and commercial automobile insurance to businesses. During the year ended December 31, 2011, automobile insurance in these segments accounted for 54% of its consolidated insurance premiums earned from continuing operations, and 47% of its consolidated revenues from continuing operations. During 2011, homeowners insurance in these segments accounted for 14% of its consolidated insurance premiums earned from continuing operations, and 11% of its consolidated revenues from continuing operations.
Preferred and Specialty segments distribute their products through independent agents who are paid commissions for their services. Direct segment distributes its products directly to consumers and through employer-sponsored voluntary benefit programs and other affinity relationships.! Preferred, based in Jacksonville, Florida, conducts business in 38 states and the District of Columbia. During 2011, the states, which provided over half of the premium revenues in Preferred segment included New York (19%), California (12%), North Carolina (13%) and Texas (10%). Preferred segment primarily sells preferred and standard risk automobile and homeowners insurance. During 2011, Preferred�� insurance products accounted for 53% of the aggregate insurance premium revenues of the Company�� property and casualty insurance business. Its products are marketed by approximately 2,700 independent insurance agents. Specialty, based in Dallas, Texas, conducts business in 21 states, principally in the southwest and western United States. During 2011, the states, which provided more than three-fourths of the premium revenues in Specialty segment included California (42%), Texas (18%), Washington (8%), Louisiana (4%) and Oregon (3%). Specialty provides personal and commercial automobile insurance. During 2011, Specialty�� insurance products accounted for 28% of the aggregate insurance premium revenues of the Company�� property and casualty insurance business. Specialty�� products are marketed through approximately 8,000 independent agents and brokers.
Direct, based in Chicago, Illinois, markets personal automobile, homeowners and renters insurance through a range of direct-to-consumer Websites, including its own Websites, marketing partners, employer and other affinity-sponsored relationships. The Direct segment�� automobile insurance products are available in 48 states and the District of Columbia. During 2011, the states, which provided approximately two-thirds of the premium revenues in Unitrin Direct segment included Florida (12%), New York (15%), California (10%), Texas (5%), Connecticut (5%), Michigan (8%), Pennsylvania (5%) and Georgia (5%). During 2011, Direct�� insurance products accounted for 14% of the aggregate insurance premium revenues of its property and casualty i! nsurance ! business.. Direct also offers homeowners and renters insurance across 47states and the District of Columbia, complementing its direct automobile insurance business. The Company manages its exposure to catastrophes and other natural disasters through a combination of geographical diversification, restrictions on the amount and location of new business production in certain regions, and reinsurance. To limit its exposures to catastrophic events, the Company maintains various primary catastrophe reinsurance programs for its property and casualty insurance businesses.
Life and Health Insurance Business
The Company�� Life and Health Insurance segment consists of Kemper�� wholly owned subsidiaries, United Insurance Company of America (United Insurance), The Reliable Life Insurance Company (Reliable), Union National Life Insurance Company (Union National Life), Mutual Savings Life Insurance Company (Mutual Savings Life), United Casualty Insurance Company of America (United Casualty), Union National Fire Insurance Company (Union National Fire), Mutual Savings Fire Insurance Company (Mutual Savings Fire) and Reserve National Insurance Company (Reserve National). As discussed below, United Insurance, Reliable, Union National Life, Mutual Savings Life, United Casualty, Union National Fire and Mutual Savings Fire (the Kemper Home Service Companies) distribute their products through a network of employee, or career, agents. Reserve National distributes its products through a network of exclusive independent agents. Both these career agents and independent agents are paid commissions for their services. During 2011, the states, which provided approximately two-thirds of the Life and Health Insurance segment�� premium revenues included Texas (21%), Louisiana (11%), Alabama (7%), Mississippi (6%), Illinois (4%), Florida (4%), Georgia (4%), Missouri (4%), and North Carolina (4%). During 2011, life insurance accounted for 18% of the Company�� consolidated insurance premiums earned from ! continuing! operations, and 16% of its consolidated revenues from continuing operations.
The Kemper Home Service Companies, based in St. Louis, Missouri, focus on providing individual life and health insurance products to customers of modest incomes who desire basic protection for themselves and their families. Their product is ordinary life insurance, including permanent and term insurance. Face amounts of these policies are lower than those of policies sold to higher income customers by other companies in the life insurance industry. Approximately 79% of the Life and Health Insurance segment�� premium revenues are generated by the Kemper Home Service Companies. The Life and Health Insurance segment�� career agents also distribute certain property insurance products. Reserve National, based in Oklahoma City, Oklahoma, is licensed in 35 states throughout the south, southwest and midwest, and specializes in the sale of Medicare Supplement insurance and limited health insurance coverages, such as fixed indemnity, dental and vision, and accident-only plans, primarily to individuals in rural areas where access to a multitude of health plan options is less prevalent.
The Company's life and health insurance companies utilize reinsurance arrangements. Included among the segment�� reinsurance arrangements is excess of loss reinsurance coverage specifically designed to protect against losses arising from catastrophic events under the property insurance policies distributed by the Kemper Home Service Companies��agents and written by Kemper�� subsidiaries, United Casualty, Union National Fire and Mutual Savings Fire, and reinsured by Kemper�� subsidiary, Trinity Universal Insurance Company (Trinity), or written by Capitol County Mutual Fire Insurance Company (Capitol), a mutual insurance company owned by its policyholders, and its subsidiary, Old Reliable Casualty Company (ORCC), and reinsured by Trinity.
Advisors' Opinion:- [By Rich Duprey]
The property and casualty business of insurance company Kemper� (NYSE: KMPR ) has a new bean counter.
On Monday, the Chicago-based insurance company�announced�that Elizabeth "Libbie" Bock�will take on the role of CFO for the P&C division, where she would be�responsible for all aspects of operations, reporting, control, planning and analysis, financial management, and competitive analysis.
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