Alan Devlin News
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Prudential Plc, the U.K.’s biggest insurer by market value, raised its dividend 16 percent as profit beat estimates on rising income from Asian economies such as Indonesia, Singapore and Malaysia. The shares rose.
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Aviva Plc, the U.K.’s second-biggest insurer by market value, will cut directors’ bonuses to zero and freeze pay for 400 top managers after slashing its second-half dividend by 44 percent and posting a loss. The shares plunged.
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Legal & General Group Plc, the biggest manager of U.K. pension assets, raised its dividend 20 percent after sales, cash flow and operating profit grew on demand for retirement products in Britain.
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Old Mutual Plc, Africa’s biggest insurer, set aside 5 billion rand ($550 million) for acquisitions in fast-growing countries on the continent after full-year profit beat analysts’ estimates.
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Hartford Financial Services Group Inc. Chief Executive Officer Liam McGee may follow Axa SA and Aegon NV’s Transamerica in offering to pay customers to exit savings products that are weighing on the company’s results.
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Even if John Paulson persuades Hartford Financial Services Group Inc. to break itself up, the hedge fund manager could still come up short in his billion- dollar bet on the 201-year-old insurer.
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MetLife Inc., the life insurer that’s eliminating most of the 4,300 jobs at its mortgage unit and selling deposits to reduce federal oversight, is finding it harder to escape risk from home loans.
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Allstate Corp., the largest publicly traded U.S. home and auto insurer, said third-quarter profit rose 66 percent as investment losses narrowed.
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Hartford Financial Services Group Inc. gained after Chief Executive Officer Liam McGee responded to billionaire John Paulson’s call for a breakup with plans to shut or sell parts of the 201-year-old insurer.
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Hartford Financial Services Group Inc. Chief Executive Officer Liam McGee, facing investor pressure to break up the insurer, failed to satisfy billionaire shareholder John Paulson with his plan to shrink the company.
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