Auto insurer Progressive Corp (PGR.N), which has emerged as the chief rival of Berkshire Hathaway's (BRKa.N) Geico, is poised to expand its revenue and profits, Barron's business weekly said on Sunday. "Progressive, along with Geico, is one of the few long-term winners in the personal-lines insurance industry," Barron's quoted Ken Charles Feinberg, co-portfolio manager of the Davis New York Venture Fund. "Progressive shares look appealing because they trade at a historically low valuation," it said in its latest edition. "The company's revenue and profits are poised to expand for the first time in several years." Geico and Progressive share a good size of the market, 8% and 7% respectively. Progressive and Geico are at the top of direct policy sales as well, which generally produces a cheaper policy by cutting out the agent.
Va lawmakers 1st in US to pass bill banning mandatory health insurance coverage; gov. to sign Virginia's General Assembly became the first in the nation Wednesday to approve legislation that bucks any attempt by President Barack Obama and Congress to implement a ...
Barack Obama's top health official made a tough moral case to insurance giants Wednesday: put people and patriotism before profits and drop opposition to the president's overhaul plans. Health and Human Services Secretary Kathleen Sebelius braved an industry conference two days after ...
Health and Human Services Secretary Kathleen Sebelius speaks at the American Health Insurance Plans 2010 National Policy Forum in Washington, Wednesday, March 10, 2010. (AP Photo/Gerald Herbert) Copyright 2010 AP News
Major business groups to spend millions on ad campaign against Obama health care bill Major business groups Tuesday announced a multimillion-dollar ad campaign to stop President Barack Obama's health care overhaul as it approaches a make-or-break vote in the House. The ad ...
Restrictions on abortion funding take on different form in Obama's health care overhaul bill President Barack Obama's health care bill would change federal policy on abortion, but it would not open the spigot of taxpayer dollars as some abortion opponents fear. Major ...
Labor union members, religious leaders and other activists protested in the nation's capital against what they call an abusive health insurance industry. Organizers with Health Care for America Now say thousands came in from across the country for Tuesday's march. Former Vermont ...
Health insurer Humana hikes CEO compensation 26 percent in 2009, mostly due to bonus Health insurer Humana Inc. paid CEO Michael B. McCallister 26 percent more last year than in 2008, largely because of a $1.8 million performance-related bonus. McCallister, 57, received ...
Says insurer's rate hikes violate California law A consumer advocate group has filed suit against Anthem Blue Cross, claiming that the insurer's recent California rate hikes illegally blocked coverage to scores of policyholders. Consumer Watchdog, a Santa Monica-based nonprofit, filed the class ...
Culver letter to Iowa insurance commissioner prompts Wellmark to delay rate increase Iowa's largest health insurance provider will delay a planned premium increase after Gov. Chet Culver raised questions Monday about the higher rates to the state insurance commissioner. Culver sent a ...
A fired-up President Barack Obama launched a populist assault Monday on price-gouging American insurance firms, escalating his last-ditch bid to pass a historic health reform bill. Obama laid a bold bet with his remaining political capital in an event in metropolitan Philadelphia, ...
