Horizon Blue Cross Blue Shield of New Jersey has reported a $550 million benefit as a result of the recently enacted tax reform
AmTrust Financial Services Inc. agreed to be acquired by Stone Point Capital, George and Leah Karfunkel, and Chairman and CEO Barry Zyskind. They will acquire the approximately 45% of the issued and outstanding common shares that the Karfunkels and Zyskind, and certain affiliates and related parties, do not currently own or control.
AmTrust also completed the transfer of a 51% equity interest in its U.S.-based fee businesses to Madison Dearborn Partners LLC.
With United Services Automobile Association waiting for its final loss estimates from California wildfires, the maturity date for the remaining $40 million of its Residential Reinsurance 2013 Ltd. (Series 2013-2) catastrophe bond
Bermuda special purpose insurance vehicle Panthera Re Ltd. has issued a $100 million tranche of insurance-linked securities notes that may collateralize a reinsurance or retrocession agreement for an unknown sponsor, Artemis reported.
Third Point Reinsurance Ltd. and Greenlight Capital Re Ltd. reported negative returns on their investment portfolios
Sun Life Financial Inc. concluded a third-party share repurchase program
Click here to read a summary of earnings
Featured news
Fauci on flu; Mylan reports results; rogue chemists and synthetic drugs: Anthony Fauci spoke to S&P Global Market Intelligence about the flu vaccine; Mylan reported a decline in sales; and the U.S. Drug Enforcement Administration spoke to lawmakers about overdoses and the role of synthetic opioids.
Financial news in other parts of the world
Asia-Pacific: Resona to buy back ¥101.6B of shares; 2 Indian firms may launch IPOs in March
Europe: Commerzbank gets final offers for unit; AIB, Dexia post FY'17 results
Middle East & Africa: Afreximbank eyes triple African listing; Hapoalim ups provision for US tax case
Latin America: Credicorp appoints CFO; Banco Agropecuario restructuring; BTG eyes loan growth
The day ahead
Early morning futures indicators pointed to a lower opening for the U.S. market.
In Asia, the Hang Seng was up 0.65% to 31,044.25, and the Nikkei 225 fell 1.56% to 21,724.47.
In Europe as of midday, the FTSE 100 dropped 0.68% to 7,182.46, and the Euronext 100 slid 0.85% to 1,019.63.
On the macro front
The jobless claims report, the purchasing managers' manufacturing index, the ISM manufacturing index, the construction spending report, the EIA natural gas report, the Fed balance sheet and the money supply report are due out today.
