Pennsylvania’s insurance commissioner yesterday seized control of Penn Treaty Network America Insurance Co., a foundering long term care insurer, because it’s having difficulty maintaining appropriate capital levels.
The latest data, released today by the National Association of Realtors in Washington, shows the Pending Home Sales Index, which tracks contracts signed, fell to its lowest level since the trade group began tracking the stats in 2001.
Cigna anticipates that most of the layoffs will be completed by the middle of this year and that all of the affected employees will be eligible for severance benefits and outplacement support.
Commercial real estate is heading into its worst year since the industry's crash of 1991-92 and likely won't see a significant rebound until 2011 at the earliest, according to industry experts.
investors will likely continue to yank assets from mutual funds, more funds will close, and fund launches will come to a crawl this year, according to analysts.
By some measures, 2008 was one of the darkest periods in the history of the hedge fund industry.
Mutual fund liquidations could reach record levels in 2009 as assets decline and fund management companies trim overhead.
Employees who were recently laid off won't find a lot of advice from mutual fund companies about what they should do with their cash.
Even in the best economic environment, you are not likely to see the <b>Aim Charter Fund </b>(CHTRX) hitting the top of most performance charts.
The volume of residential mortgage applications was essentially unchanged for the week ended Dec. 26, even as the interest rates charged on mortgages continued to decline, according to data from the Mortgage Bankers Association of Washington.
Hedge fund GLG Partners yesterday announced that it will temporarily stop paying a quarterly dividend.
Home prices in the 20 largest U.S. cities fell 18% in October, a record year-over-year decline.
IndyMac Bancorp Inc. is close to being sold to a consortium of private-equity and hedge fund firms in a deal that will be partially financed by the federal government, people involved with the deal told The New York Times.
Global bond underwriting activity declined by 29% in 2008 to $4.33 billion, the lowest level since 2000, according to data from Dealogic Holdings PLC of London.
Staff at the SEC’s Division of Enforcement has informed Reserve Management that it intends to recommend that the SEC bring an enforcement action against the company for violating federal securities laws.
Rising unemployment and volatility in the stock market continued to pull down the troubled housing market as sales of existing homes tumbled 10.6% in November from the same period a year earlier.
Standard and Poor’s Ratings Services today lowered its counterparty credit and financial ratings on Nationwide Financial, the life insurance division of Columbus, Ohio-based Nationwide Mutual Insurance Co., to A+, from AA-.
Tremont Group Holdings, which is owned by OppenheimerFunds Inc., a subsidiary of Massachusetts Mutual, had $3.3 billion invested with Mr. Madoff — more than half of its total $5.8 billion under management.
Apartment real estate investment trusts, which have been outperforming many of their real estate peers in 2008, are expected to take a hit in 2009 as rising unemployment will likely cause both demand and rents to decline.
Hedge fund liquidations outpaced hedge fund launches during the third quarter, offering more solid evidence that the weakened state of the global economy is taking its toll on the $1.6 trillion hedge fund industry.
