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.
- Forums
- ASX - By Stock
- assurant settles for $14m to ny regulator
http://newsandinsight.thomsonreuters.com/Securities/News/2013/03_...
-
- 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)
Featured News
Add QBE (ASX) to my watchlist
(20min delay)
|
|||||
Last
$16.07 |
Change
-0.400(2.43%) |
Mkt cap ! $24.19B |
Open | High | Low | Value | Volume |
$16.42 | $16.42 | $15.79 | $117.5M | 7.311M |
Buyers (Bids)
No. | Vol. | Price($) |
---|---|---|
1 | 4727 | $16.06 |
Sellers (Offers)
Price($) | Vol. | No. |
---|---|---|
$16.07 | 70646 | 2 |
View Market Depth
No. | Vol. | Price($) |
---|---|---|
1 | 4727 | 16.060 |
1 | 5000 | 16.030 |
1 | 167605 | 16.000 |
1 | 4727 | 15.990 |
1 | 59 | 15.980 |
Price($) | Vol. | No. |
---|---|---|
16.080 | 1062 | 2 |
16.090 | 17748 | 2 |
16.100 | 6150 | 3 |
16.110 | 17127 | 1 |
16.130 | 17127 | 1 |
Last trade - 16.10pm 08/10/2024 (20 minute delay) ? |
Featured News
QBE (ASX) Chart |