That's because, just like other income-based government programs, the more you earn, the less assistance you receive. This disincentive to bringing home a bigger paycheck will shrink the labor force by the equivalent of 2.5 million workers by 2024, according to Congressional Budget Office estimates released this week.
Obamacare provides federal subsidies for those who make less than $46,000 for individuals and $94,200 for families of four in 2014. Because the subsidy levels are tiered based on income, a few extra dollars of pay can greatly lower your subsidy amount. And in some cases, it can actually cost you money.
Take a 50-year-old couple with two children. If they earn $94,000, they will receive a $3,345 subsidy and only have to pay $8,930 in premiums, according to the Kaiser Family Foundation subsidy calculator. But if their salary increases by just $1,000, they no long qualify for a subsidy and have to pay the full $12,275 cost of insurance.
Top Up And Coming Companies To Buy Right Now: Manulife Financial Corp (MFC)
Manulife Financial Corporation (MFC) is a Canada-based financial services group with principal operations in Asia, Canada and the United States. The Company�� segments are Asia, Canadian and U.S. Divisions and the Corporate and Other segment. The Company�� international network agents and distribution partners offers financial protection and wealth management products and services to clients. It also provides asset management services to institutional customers. In January 2013, the Company acquired Benesure Canada Inc. In August 2013, John Hancock, the United States division of the Company, announced that it has acquired Landmark Square in Long Beach, California. In December 2013, MFC announced its subsidiary, Manulife (International) Limited, had completed the transaction to sell its life insurance business in Taiwan to CTBC Life Insurance Co., Ltd. Advisors' Opinion:- [By Patricio Kehoe] est Canadian life insurer by market capitalization, offering asset management, wealth management and financial services to customers in Asia, Canada and the U.S. However, the company�� annuity and segregated fund business has suffered over the past two years, due to the low interest rate environment, leading to a decline in earnings and operating results. Nonetheless, the firm has been undergoing some changes throughout 2013 and management expects profitability to increase for fiscal 2014, despite its underperformance during fourth quarter fiscal 2013. Thus, many investment gurus like George Soros (Trades, Portfolio) and Jim Simons' (Trades, Portfolio) hedge fund remain bullish about Manulife�� future outlook, evidenced by their shares purchased in the past quarter.
Of Hedging and Repricing
Manulife�� capital sensitivity and volatile earnings have made it difficult for the company to maintain steady growth prospects in the past, but quarter four's earnings report showed improvements in some aspects, especially regarding EPS growth, which jumped 73% year over year, closing at $1.62 per share. This is largely due to the company�� recent strategy of hedging two-thirds of its variable annuity business, and looking forward all newly written businesses in this segment will be hedged. Furthermore, the firm has been gradually trading most of its short-term bonds for long-term bonds, which will improve the bond duration of its investment portfolio, thereby reducing earning sensitivity. While insurance sales were weak for 2013, declining 13% from 2012 and 32% year over year for the quarter, Manulife�� shift towards expanding its wealth management business (wealth sales increased 37% over the past fiscal year) and mutual fund sales should help offset declines in the future.
In fact, today the company announced that it will be launching a new universal life product for the Canadian market called Manulife UL by May 26 of this year. The new
- [By Jonas Elmerraji]
Manulife Financial (MFC) is another stock that's forming an ascending triangle pattern right now. In the case of this $33 billion Canadian financial services firm, resistance comes into play at $18, a price level that's acted as a ceiling for shares since all the way back in July. The buy signal comes on a move through that $18 barrier.
Whenever you're looking at any technical price pattern, it's critical to think in terms of those buyers and sellers. Triangles, and other pattern names are a good quick way to explain what's going on in a stock, but they're not the reason it's tradable. Instead, it all comes down to supply and demand for shares.
That $18 resistance level is a price where there has been an excess of supply of shares; in other words, it's a place where sellers have been more eager to step in and take gains than buyers have been to buy. That's what makes a breakout above it so significant -- the move means that buyers are finally strong enough to absorb all of the excess supply above that price level.
After it happens, I'd recommend keeping a protective stop at $16.50.
- [By Eric Lam]
Air Canada, the nation�� largest airline, surged 7.2 percent after reducing costs. Manulife Financial Corp. (MFC), Canada�� largest insurer, increased 2.6 percent for a fourth day of gains. Trilogy Energy Corp. plunged 9.8 percent after reporting a loss as sales declined. Detour Gold Corp. plunged 18 percent after saying it will not meet its 2013 production targets. Centerra Gold Inc. and HudBay Minerals Inc. sank at least 3.7 percent as gold dropped to a three-week low in New York.
Best Insurance Stocks To Buy Right Now: American Financial Group Inc (AFG)
American Financial Group, Inc. (AFG), incorporated on July 1, 1997, is a holding company, which through subsidiaries, is engaged primarily in property and casualty insurance, focusing on specialized commercial products for businesses and in the sale of traditional fixed and fixed-indexed annuities in the individual, bank and education markets. The Company�� segment includes: property and casualty insurance, annuity, run-off long-term care and life and other. In August 2012, the Company sold its Medicare supplement and critical illness businesses.
Property and Casualty Insurance
AFG�� specialty property and casualty insurance operations consist of approximately 30 niche insurance businesses offering a range of commercial coverages. Under the property and transportation segment, inland and ocean marine provides coverage primarily for builders' risk, contractors' equipment, property, motor truck cargo, marine cargo, boat dealers, marina operators/dealers and excursion vessels. The agriculture-related business provides federally reinsured multi-peril crop (allied lines) insurance covering perils, as well as crop-hail, equine mortality and other coverages for operating farms/ranches and agribusiness operations on a nationwide basis. The commercial automobile business provides coverage for vehicles (such as buses and trucks) in a range of businesses, including the moving and storage and transportation industries, and a specialized physical damage product for the trucking industry.
Under the specialty casualty segment, executive and professional liability business markets coverage for directors and officers of businesses and non-profit organizations, errors and omissions, and provides non-United States medical malpractice insurance. The umbrella and excess liability business provides higher layer liability coverage in excess of primary layers. The excess and surplus business provides liability, umbrella and excess coverage for risks, using rates and forms that ge! nerally do not have to be approved by state insurance regulators. The general liability business provides coverage for contractor-related businesses, energy development and production risks, and environmental liability risks. The targeted programs includes coverage (primarily liability and property) for social service agencies, leisure, entertainment and non-profit organizations, customized solutions for other targeted markets and alternative risk programs using agency captives. The Workers��Compensation provides coverage for prescribed benefits payable to employees who are injured on the job.
Under the specialty financial segment, fidelity and surety provides fidelity and crime coverage for government, mercantile and financial institutions and surety coverage for various types of contractors and public and private corporations. Lease and loan services provides coverage for insurance risk management programs for lending and leasing institutions, including equipment leasing and collateral and mortgage protection.
Annuity Operations
AFG�� annuity operations is engaged primarily in the sale of fixed and fixed-indexed annuities in the individual, bank and education markets through independent producers and also sell annuities through direct relationships with banks. Annuities are long-term retirement saving instruments that benefit from income accruing on a tax-deferred basis. The issuer of the annuity collects premiums, credits interest or earnings on the policy and pays out a benefit upon death, surrender or annuitization. Single premium annuities are generally issued in exchange for a one-time lump-sum premium payment. Certain annuities, primarily in the education market, have premium payments that are flexible in both amount and timing as determined by the policyholder and are generally made through payroll deductions.
A fixed-indexed annuity provides policyholders with the opportunity to receive a crediting rate tied, in part, to the performanc! e of an e! xisting market index (generally the S&P 500) while protecting against the related downside risk through a guarantee of principal (excluding surrender charges, market value adjustments, and certain benefit charges). AFG purchases call options designed to substantially offset the effect of the index participation in the liabilities associated with fixed-indexed annuities.
Run-off long-term care and life
The majority of AFG�� investment in its run-off long-term care and life operations (including 100% of its long-term care business) is in the following subsidiaries: United Teacher Associates Insurance Company, Continental General Insurance Company and Manhattan National Life Insurance Company. United Teacher Associates Insurance Company�� products include Long-term care, life and annuities. Continental General Insurance Company�� products include Long-term care, life and annuities.
Other Operations
Through subsidiaries, AFG is engaged in a range of other operations, including commercial real estate operations in Cincinnati (office buildings and The Cincinnatian Hotel), New Orleans (Le Pavillon Hotel), Whitefield, New Hampshire (Mountain View Grand Resort), Chesapeake Bay (Skipjack Cove Yachting Resort and Bay Bridge Marina), Charleston (Charleston Harbor Resort and Marina), Palm Beach (Sailfish Marina and Resort), Florida City, Florida (retail commercial development) and apartments in Louisville and Pittsburgh.
Advisors' Opinion:- [By Ben Levisohn]
Shares of American International Group have dropped 1.7% to $49.67 at 1:19 p.m. today, while American Financial Group (AFG) has, dropped 0.2% to $57.23, HCC Insurance (HCC) is little changed at $45.12,�Travelers (TRV) has dipped 0.1% to $83.52 and Chubb (CB) is off 0.1% at $86.58.
- [By Ben Levisohn]
For the past several years, Berkshire has contrasted its own cost-free float provided by profitable underwriting against the industry�� (unimpressive) tendency to lose money on underwriting while generating net returns from investment income. So far, so good. Less edifying, though, is the repeated contrast of Berkshire�� track record of profitability to State Farm��…even though, as a mutual company, State Farm�� profitability goals are inherently different from for-profit insurers like Berkshire. It�� true that through year-end 2013, Berkshire�� underwriters have ��ow operated at an underwriting profit for eleven consecutive years,��but so have ACE (ACE), American Financial (AFG),� AmTrust Financial (AFSI), Arch Capital (ACGL), Chubb (CB), HCC (HCC), Progressive (PGR), RLI (RLI), and W.R. Berkley (WRB), any or all of whom provide a more meaningful comparison than contrasting Berkshire�� results to a company that�� not out to produce a profit in the first place.
Best Insurance Stocks To Buy 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.
Best Insurance Stocks To Buy Right Now: UnipolSai Assicurazioni SpA (US)
UnipolSai Assicurazioni SpA, formerly Fondiaria SPA, is an Italy- based company engaged in financial sector. The Company is a result of the merger of Unipol Assicurazioni SpA, Milano Assicurazioni SpA and Premafin Finanziaria SpA into Fondiaria Sai SpA. The Company operates through approximately 3 000 agencies under brands, such as Unipol, Sai, La Fondaria, Milano, La Previdente, Nuova Maa and Sasa. UnipolSai Assicurazioni SpA specializes in non-life insurance, especially automobile insurance. Additionally, UnipolSai Assicurazioni SpA provides products which protect its clients against damage and accident in the field, such as work, home, travel, health, life, aviation, railway, fire, maritime and goods in transit, as well as reinsurance and legal protection. Advisors' Opinion:- [By Vivian Lewis, Editor and Publisher, Global Investing]
It just bought 334 factories for $372 million (US) in conjunction with AIG (of the US) and Walton St. Capital, a Mexican developer, in northern Mexico, which are 97% occupied.
Best Insurance Stocks To Buy Right Now: Aflac Incorporated(AFL)
Aflac Incorporated, through its subsidiary, American Family Life Assurance Company of Columbus (Aflac), provides supplemental health and life insurance. The company offers various voluntary supplemental insurance products, including cancer plans, general medical indemnity plans, medical/sickness riders, care plans, living benefit life plans, ordinary life insurance plans, and annuities in Japan. It also provides loss-of-income products, such as life and short-term disability plans; and products designed to protect individuals from depletion of assets, which comprise hospital indemnity, fixed-benefit dental, vision care, accident, cancer, critical illness/critical care, and hospital intensive care plans in the United States. The company sells its products through sales associates and brokers, affiliated corporate agencies, independent corporate agencies, and individual agencies. Aflac Incorporated was founded in 1955 and is headquartered in Columbus, Georgia.
Advisors' Opinion:- [By Dividend Growth Investor]
Aflac Incorporated (AFL), through its subsidiary, American Family Life Assurance Company of Columbus, provides supplemental health and life insurance products. Aflac has managed to boost dividends for 30 years in a row, and has a ten year dividend growth rate of 19.30%/annum. The company is really cheap at 9.70 times earnings, but has the capacity to grow profits in the foreseeable future through strategic partnerships in Japan and US markets and increasing number of sales associates. One of the opportunities for growth could be US, which accounts for roughly only a quarter of revenues. It is amazing that a company deriving 70-75% of revenues from Japan could achieve such astounding growth over the past 30 years. Currently, the stock trades at 9.70 times earnings and yields 2.30%. Check my analysis of Aflac.
- [By Michael Flannelly]
Insurance company Aflac Incorporated (AFL) was upgraded by analysts at FBR Capital on Tuesday, noting that the company’s sales and solvency margin ratio data points should help the stock catch up to its peers.
The analysts upgraded AFL from “Market Perform” to “Outperform” and now see shares reaching $71, up from its previous target of $60. This new price target suggests a 14.5% upside to the stock’s Monday closing price of $61.99.
“We are upgrading AFL to Outperform from Market Perform based on our view that sales data following the Japan Post deal, and better news on solvency margin ratio (SMR) management and yen repatriation, should help shares close their ~30% underperformance to the group year to date,” FBR Capital analyst Randy Binner commented.
Aflac shares were up 63 cents, or 1.02%, during pre-market trading on Tuesday. The stock is up 16.7% year-to-date.
- [By Russ Krull]
Aflac (NYSE: AFL ) sold $700 million in 10-year notes. The money will go toward redeeming two yen-denominated notes with a principal value of about $340 million due in 2014 and $300 million in U.S. dollar-denominated notes due in 2015. Any money left over goes toward "general corporate purposes," including capital contributions to subsidiaries, if needed. With Japan's Central Bank aggressively easing, it's curious that Aflac chose to borrow dollars to pay back yen-denominated notes.
Best Insurance Stocks To Buy Right Now: ING Groep NV (ING)
ING Groep N.V. (ING), incorporated in 1991, 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 February 2011, the Company divested its real estate investment operation ING Real Estate Investment Management (ING REIM) to CB Richard Ellis Group Inc. In June 2011, the Company sold Clarion Partners. In July 2011, ING announced the completion of the sale of Clarion Real Estate Securities. During the year ended December 31, 2011, the Company divested its interests in ING Car Lease and ING IM Philippines. In February 2012, Capital One Financial Corp. acquired ING Direct business in the United States from the Company.
In June 2011, ING had completed the sale of its interest in China�� Pacific Antai Life Insurance Company Ltd. In June 2011, ING announced the completion of the sale of real estate investment manager of its United States operations, Clarion Partners, to Clarion Partners management in partnership with Lightyear Capital LLC. In October 2011, ING announced that it had completed the sale of REIM�� Asian and European operations to CBRE Group Inc. In December 2011 ING completed the sale of its Latin American pensions, life insurance and investment management operations.
Retail Netherlands
Retail Banking reaches its individual customers through Internet banking, telephone, call centers, mailings and branches. Using direct marketing methods, it is a provider of current account services an! d payments systems to provide other financial services, such as savings accounts, mortgage loans, consumer loans, credit card services, investment and insurance products. Mortgages are offered through a tied agents sale force and direct and intermediary channels. ING Bank Netherlands operates through a branch network of approximately 280 branches. It offers a range of commercial banking activities and also life and non-life insurance products. It also sells mortgages through the intermediary channel.
Retail Belgium
ING Belgium provides banking, insurance (life, non-life) and asset management products and services to meet the needs of individuals, families, companies and institutions through a network of local head offices, 773 branches and direct banking channels (automated branches, home banking services and call centers). ING Belgium also operates a second network, Record Bank, which provides a range of banking products through independent banking agents and credit products through a multitude of channels (agents, brokers, vendors).
ING Direct
ING Direct offers a range of financial products, such as savings, mortgages, retail investment products, payment accounts and consumer lending products. It operates in Canada, Spain, Australia, France, Italy, Germany, Austria and the United Kingdom. In June 2011, ING Group announced the sale of ING Direct USA to Capital One Financial Corporation.
Retail Central Europe
Retail Central Europe has a presence in Poland, and Romania and Turkey. ING in Poland is an Internet bank. During 2011, ING Bank Turkey launched the Orange account, the variable savings product. ING in Turkey also launched a mobile phone banking application. ING Bank Romania carried out its Internet banking site, Home��ank. In September 2011, a mobile version of the Home��ank Website was introduced.
Retail Asia
Retail Banking has a presence in Asian markets of India, China and Thailand. As o! f Decembe! r 31, 2011, the Company had 44% interest in ING Vysya and 30% interest in TMB Bank in Thailand. Bank of Beijing (BoB), in which ING has the largest single interest (16.07%) is a commercial bank in China. ING provides principally risk management and retail banking to BoB.
Commercial Banking
ING Commercial Banking supports the banking needs of its corporate and institutional clients to invest both retail and commercial bank customer deposits. It is a commercial bank in its home markets in the Benelux, as well as in Germany, Central and Eastern Europe. In addition to the banking services of lending, payments and cash management and treasury, it also provides solutions in other areas, including specialized and trade finance, derivatives, corporate finance, debt and equity capital markets, leasing, factoring and supply chain finance. Payments and Cash Management (PCM) and General Lending are its some of the product lines. Structured Finance (SF) is a specialist commercial lending business, providing loans to support capital intensive investments and working capital. It is managed in three groups: the Energy, Transport and Infrastructure Group; the Specialized Financing Group; and International Trade and Export Finance. Leasing and Factoring (L&F) provides financial and operating leasing services for a range of equipment, as well as receivables financing and other factoring solutions for commercial banking clients. The Financial Markets (FM) is the global business unit that manages ING�� financial markets trading and non-trading activities. FM is managed along three business lines: ALCO manages the interest rates exposures arising from the traditional banking activities, Strategic Trading Platform incorporates the primary proprietary risk taking units, and Clients and Products is the primary customer trading facilitation business line.
Real Estate
During 2011, Real Estate Finance (REF) maintained its credit portfolio. Real Estate Development (ING RED) and! Real Est! ate Investment Management (ING REIM) has a controlled wind down of activities.
Insurance Benelux
Duirng 2011, Nationale-Nederlanden introduced bank pension savings products and annuities. ING Life Belgium introduced a new Universal Life product. Nationale-Nederlanden also received a license from the Dutch Central Bank to launch a defined contribution DC company pension product PPI in Europe. NN Services introduced a processing and information technology system (business process management layer) for several legacy lines of retail Life businesses. NN Services IT manages all the closed book business of Nationale-Nederlanden. ING�� life insurance products in the Benelux consist of a range of traditional, unit-linked and variable annuity policies written for both individual and group customers. ING is also a provider of (re-insured) company pension plans in the Netherlands.
NG Benelux��non-life products, mainly in the Netherlands, include coverage for both individual and commercial/group clients for fire, motor, disability, transport and third party liability. Nationale-Nederlanden has also a central product manufacturing service for property and casualty insurance, which has developed products for ING Bank in Belgium and ING Bank in the Netherlands. ING offers a range of disability insurance products and complementary services for employers and self-employed professionals (such as dentists and general practitioners).
Insurance Central and Rest of Europe
Insurance Central and Rest of Europe has life insurance companies in Hungary, Poland, the Czech and Slovak Republics, Romania, Bulgaria, Greece, Spain and Turkey. It has pension funds in Poland, Hungary, the Czech and Slovak Republics, Bulgaria, Romania and in Turkey. ING offers a range of individual endowment, unit linked, term and whole life insurance policies designed to meet specific customer needs. It also has employee benefits products, as well as pension funds, that manage individu! al retire! ment accounts for individuals. The latter comprise both mandatory and voluntary retirement savings.
Insurance United States (Excluding US Closed Block Va)
ING Insurance US offers retirement services (primarily defined contribution plans), life insurance, fixed annuities, employee benefits, mutual funds, and broker-dealer services in the United States. ING Insurance US operates four businesses: Retirement Plans, Individual Retirement, Individual Life and Employee Benefits. ING Insurance US�� Retirement Plans business is a contribution providers, which offers a range of retirement solutions to all sizes and types of employers, including businesses for-profit ranging from start-ups to large corporations, public and private school systems, higher education institutions, state and local governments, hospitals and healthcare facilities, and not-for-profit organizations. ING Insurance US�� Retirement Plans business is a provider of defined contribution (DC) retirement plans in the United States based on assets under management and administration.
Insurance US Closed Block Va
ING US Closed Block VA consists of variable annuities issued in the United States that are primarily owned by individuals and were designed to address the demand for tax-advantaged savings, retirement planning, and wealth-protection. These annuity contracts were sold in the United States, primarily through independent third party distributors, including wirehouses and securities firms, independent planners and agents and banks.
Insurance Asia/Pacific
ING Insurance Asia/Pacific (IAP) is a provider of life insurance products and services. It is a life insurer in the region, with nine life operations in eight markets. IAP has ip operations in Japan and South Korea, operates a nt business in Malaysia, and is well in China, Hong Kong, Macau, India and Thailand. In April 2011, IAP, together with Public Bank Berhad and Public Islamic Bank Berhad, launched a joint ! venture i! n Malaysia, ING PUBLIC Takaful Ehsan Berhad, which will develop Takaful insurance products. In June 2011, IAP completed the sale of its 50% interest in Pacific-Antai Life Insurance Company Limited (PALIC).
The business units of IAP offer select types of life insurance, wealth management, and retail products and services. These include annuities, endowment, disability/morbidity insurance, unit linked/universal life, whole e, participating life, group life, accident and health, term life and employee benefits. In Hong Kong non-life insurance products (including medical, motor, fire, marine, personal accident and general liability) are also offered.
Insurance Latin America
ING completed the sale of its pensions, life insurance and investment management operations on December 29, 2011. These operations were in Chile, Colombia, Mexico, Peru and Uruguay.
ING Investment Management
ING IM is an investment manager of ING Group with activities in Europe, the Americas, Asia-Pacific and the Middle East. In October 2011, ING IM sold ING IM Australia. ING IM provides a range of actively-managed strategies, investment vehicles and advisory services in all major asset classes and investment styles. It delivers a range of investment strategies and services to ING�� global network of businesses and third-party clients.
Advisors' Opinion:- [By Laura Brodbeck]
Wednesday
Earnings Expected From: CenturyLink, Inc. (NYSE: CTL), Tempur-pedic International Inc. (NYSE: TPX), ING Group, N.V. (NYSE: ING), Time Warner Inc. (NYSE: TWX), Duke Energy Corporation (NYSE: DUK), Humana Inc. (NYSE: HUM) Economic Releases Expected: Australian unemployment rate, US CB Leading Index, eurozone retail sales, British Industrial and manufacturing production, eurozone services PMIThursday
- [By Jake L'Ecuyer]
ING Groep NV (NYSE: ING) was also up, gaining 4.11 percent to $14.28 after the company announced its plans to resume paying dividends in 2015.�
Equities Trading DOWN
Shares of GenCorp (NYSE: GY) were down 5.16 percent to $17.64 after the company reported Q1 results. GenCorp reported a Q1 loss of $0.03 per share. - [By Eric Volkman]
ING's (NYSE: ING ) Latin American operations will soon be one division lighter. The company announced it reached an agreement to sell its mortgage business in Mexico to�Grupo Financiero Santander Mexico (NYSE: BSMX ) , the local presence of Spanish financial group Banco Santander (NYSE: SAN ) . The price was 643 million pesos ($51 million), according to Mexico City newspaper La Cronica de Hoy.
- [By Selena Maranjian]
More than a handful of foreign companies had solid performances over the past year. Netherlands-based financial giant ING Groep (NYSE: ING ) surged 50%, as it sold off various assets as part of a multibillion-dollar government bailout agreement. It spun off a stake in its U.S. operations via an IPO earlier this year, with ING U.S.�expected to be rebranded as Voya Financial.
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