http://newsandinsight.thomsonreuters.com/Securities/News/2013/03_-_March/New_York_regulators,_Assurant_settle_over__force-placed__insurance/
In Summary:
- Assurant and QBE are 2 biggest player in US market called "Force placed" insurance; basically banks taking insurance on home owners at inflated price and then sharing the loot.
- NY regulator settled the case, and this might mean that future force placed insurance will have to take 30% price cut to reduce it to reasonable prices.
"The regulator noted that JPMorgan Chase has made about $600 million since 2006 by taking 75 percent of the profit from the force-placed business it gave Assurant."
Sounds like crony capitalism to me. But might have been a fat loot for QBE in the past.
On the plus side (for me), the price drop that I've been waiting for a month finally starts.
assurant settles for $14m to ny regulator
-
- There are more pages in this discussion • 6 more messages in this thread...
You’re viewing a single post only. To view the entire thread just sign in or Join Now (FREE)
Add QBE (ASX) to my watchlist
 (20min delay)
|
|||||
|
Last
$16.90 |
Change
-0.180(1.05%) |
Mkt cap ! $25.44B | |||
| Open | High | Low | Value | Volume |
| $17.13 | $17.25 | $16.89 | $25.52M | 1.506M |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 1 | 739 | $16.89 |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| $16.90 | 10014 | 1 |
View Market Depth
| Last trade - 16.10pm 04/11/2024 (20 minute delay) ? |
| QBE (ASX) Chart |