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2 states disclose '18 rate hikes; Sen. Hatch calls for attention to tax reform

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2 states disclose '18 rate hikes; Sen. Hatch calls for attention to tax reform

In the news

The requested average premium rate increase in Idaho for 2018 is 38%, with Regence BlueShield of Idaho Inc. asking for the steepest hike at 51% and Mountain Health CO-OP the lowest at 25%, according to the state Department of Insurance. Final rates will be publicly available by mid-September or early October.

Minnesota also publicly disclosed the 2018 rates proposed by health insurers.

Five Ohio health insurers plan to offer plans on the state's federal exchange in 19 counties that would have been without an insurer in 2018.

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U.S. Senate Finance Committee Chairman Orrin Hatch, R-Utah, said the Senate should now focus on tax reform since it is too divided on the health bill, according to Reuters.

Taking a cue from Sen. John McCain, R-Ariz., who demanded last week that Congress find a bipartisan solution to fixing the U.S. healthcare system, 43 Republican and Democratic House members unveiled a five-point plan aimed at tweaking and shoring up, rather than dismantling, the Affordable Care Act.

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Radian Group Inc. reported a second-quarter net loss.

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Third Point Reinsurance Ltd. and Greenlight Capital Re Ltd. both reported positive returns on their investment portfolios in July.

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Great-West Lifeco Inc. subsidiary Great-West Life Assurance Co. completed its acquisition of managing general agency Financial Horizons Group.

Featured news

Bipartisan group seeks ACA fix; Pfizer ups FY'17 outlook: A bipartisan group comprising 43 House members unveiled a five-point plan aimed at improving the Affordable Care Act; and Pfizer raised the midpoint of its guidance range and now expects adjusted EPS of between $2.54 to $2.60 for full year 2017.

Financial news in other parts of the world

Asia-Pacific: Mitsubishi UFJ arm eyes acquisitions; Mirae Asset to infuse capital into US unit

Europe: Sabadell completes US unit sale; Direct Line, Man Group H1 profits up YOY

Middle East & Africa: Qatar brings case to WTO; Moody's takes actions on Omani, Bahraini banks

The day ahead

Early morning futures indicators pointed to a higher opening for the U.S. market.

In Asia, the Hang Seng climbed 0.79% to 27,540.23, while the Nikkei 225 rose 0.30% to 19,985.79.

In Europe, around midday, the FTSE 100 gained 0.59% to 7,415.74 and the Euronext 100 rose 0.31% to 998.86.

On the macro front

The motor vehicle sales report, the personal income and outlays report, the Redbook, the PMI manufacturing index, the ISM manufacturing index, the construction spending report and the Gallup US ECI are due out today.