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Travelers operating earnings decline; Securian invests in health insurance startup

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Travelers operating earnings decline; Securian invests in health insurance startup

In the news

second-quarter operating income of $649 million, or $2.20 pershare, a decline from $806 million, or $2.52 per share, in the year-ago quarter.

reportedsecond-quarter net income attributable to the company of $102.1 million, or 92cents per share, up from $93.3 million, or 85 cents per share, in the year-agoperiod.

posted net income attributableto the company of $23.6 million, or 49 cents per share, for the second quarter,compared to $17.1 million, or 72 cents per share, in the prior-year quarter.


made a $1million investment in Minneapolis-based health insurance startup Gravie, Minneapolis / St. Paul Business Journalreported. Securian will start offering life insurance plans through Gravie inthe upcoming open enrollment season.


InConnecticut, State Senate President Martin Looney, D-New Haven, has urgedInsurance Commissioner Katharine Wade to recuse herself from the state's reviewof Anthem Inc.'sdeal forCigna Corp. Wadepreviously served as a lobbyist at Cigna.

Meanwhile,the insurance commissioner's attorney, Kimberly Knox, argued that Wade does nothave any conflict of interest, The Associated Press reported.The 30-day comment period on whether Wade should recuse herself from thestate's merger review ended yesterday.


-ownedNational IndemnityCo.'s acquisition of the stock successor to will take longer to close than what Berkshiretypically experiences when executing acquisitions in the sector. In the lastinstance of a sponsored demutualization transaction, it took about 616 days forthe deal to complete, notes an S&P Global Market Intelligence .


Currentparticipants in two New York LifeInsurance Co. 401(k) retirementplans filed aclass-action lawsuitagainst the company for allegedly engaging in self-dealing and chargingexcessive fees related to the plans,InvestmentNews reported.


isestimating a second-quarter pretax financial impact of $27 million to $28 millionfrom weather-related catastrophes.


reportedsecond-quarter adjusted net earnings attributable to FNF Group commonshareholders of $207 million, or 74 cents per share, compared with $187million, or 65 cents per share, in the year-ago quarter.


Indeal news, AssuredPartnersInc. acquired Boardman, Ohio-based National Healthcare AccessAgency.

Bangor,Maine-based Cross Insurance acquired Sargent Tyler & West, an insurance agencybased in the same city. Terms of the deal were not disclosed.


's board named Gavin Southwell as the company's president.Southwell has been a consultant for the company since April.

Financial news in other partsof the world

Asia-Pacific:

Europe:EBA's MREL study results;Swedbank, Danske post Q2 results; S&P cuts Turkey

Middle East & Africa:Iran seeks bond market return;Bank of Mauritius cuts rate; Mashreqbank Q2 profit down YOY

The day ahead

Earlymorning futures indicators pointed to a mixed opening for the U.S. market.

InAsia, the Hang Seng rose 0.54% to 22,000.49, and the Nikkei 225 was up 0.77% to16,810.22.

In Europeas of midday, the FTSE 100 was down 0.34% to 6,706.02, and the Euronext 100fell 0.29% to 865.42.

On the macro front

Thejobless claims report, the Chicago Fed national activity index, the FHFA houseprice index,  the existing home salesreport, the Leading Indicators report, the EIA natural gas report, the Fedbalance sheet and the money supply report are due out today.