State Farm has made payments of over $1.32 billion in aggregate
WellCare Health Plans Inc. reported fourth-quarter 2017 adjusted net income of $14.2 million, or 32 cents per share, compared to $46.0 million, or $1.03 per share, for the fourth quarter of 2016. The company increased its full-year 2018 adjusted EPS guidance to $9.55 to $9.85 from its previous guidance range of $8.40 to $8.65.
Centene Corp. reported fourth-quarter 2017 adjusted net earnings from continuing operations of $173 million, or 97 cents per share, down from $210 million, or $1.19 per share, in the prior-year quarter. The company also updated its outlook for full year 2018 and now expects adjusted EPS of $6.95 to $7.35, compared to earlier guidance of $5.47 to $5.87.
Yesterday, Everest Re Group Ltd. reported fourth-quarter 2017 net income of $571.0 million, or $13.85 per common share, up from $373.6 million, or $9.08 per common share, in the year-ago period.
Genworth Financial Inc., Genworth MI Canada Inc. and Horace Mann Educators Corp. are also expected to report earnings
Justine Handelman, a senior vice president at the Blue Cross Blue Shield Association, emphasized the need for Congress to provide funding for reinsurance to stabilize the Affordable Care Act
Accident-and-health business written by U.S. property-and-casualty insurers
In deal
Alera Group Inc. acquired Boston-based Spring Consulting Group LLC, an employee benefits and risk management consulting company for undisclosed terms.
Fairfax Financial Holdings Ltd. and asset managers Warburg Pincus LLC and General Atlantic LLC have joined the race to acquire a 26% stake in IndiaFirst Life Insurance Co. Ltd., Mint reported. Germany-based ERGO International AG and Manulife Financial Corp. were also said to be in separate talks to acquire the stake in IndiaFirst Life.
Featured news
Roche, Pfizer bag cancer trial wins; Allergan earnings up: President Donald Trump said building a wall on the border between the U.S. and Mexico and getting tougher on drug dealers, and not convening more blue ribbon committees, would lead to Americans prevailing over the country's opioid epidemic.
Financial news in other parts of the world
Asia-Pacific: Great Eastern in Malaysian M&A talks; Macquarie ups FY'18 profit guidance
Europe: Lloyds to cut 1,000 jobs; Munich Re FY'17 net profit drops
Middle East & Africa: First Abu Dhabi gets Saudi securities licence; Investec selling Irish unit
Latin America:
The day ahead
Early morning futures indicators pointed to a lower opening for the U.S. market.
In Asia, the Hang Seng fell 5.12% to 30,595.42, while the Nikkei 225 shed 4.73% to 21,610.24.
In Europe, around midday, the FTSE 100 dropped 2.38% to 7,160.28 and the Euronext 100 fell 2.32% to 1,003.85.
On the macro front
The international trade report, the Redbook and the JOLTS report are due out today.
