The Woodlands Financial Group Has a Focus on Growth

March 14, 2013Email ThisPrintNewslettersTweetArticleComments

Richard “Gordy” Bunch, president and CEO of The Woodlands Financial Group, readily concedes that starting a personal lines-focused insurance business in Texas in 2001

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Allianz Reports Revenue, Operating Profit and Net Income Growth for 2012

February 22, 2013Email ThisPrintNewslettersTweetArticleComments

Germany’s Allianz Group, Europe’s largest insurer, reported strong results for the financial year 2012. Revenues reached

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WTO Cuts 2012 Global Trade Growth Forecast to 2.5%

September 21, 2012Email ThisPrintNewslettersTweetArticleCommentsWorld trade will grow by a mere 2.5 percent this year, dragged down by Europe to less than half of the previous 20-year average, the World Trade Organization (WTO) said on Friday.

The WTO cut its estimate from a 2012 growth forecast of 3.7 percent it made in April and also lowered its forecast for 2013 to 4.5 percent growth from 5.6 percent.

“I see the risk more on the downside than the upside,” WTO Director General Pascal Lamy said at a news conference in Singapore. “What could be surprising is that you have a volume of trade that is lower than world (economic) growth.”

The WTO figures are based on world economic growth of 2.1 percent in 2012 and 2.4 percent 2013, which it said was a consensus estimate of economic forecasts.

“The main reason for the growth slowdown is of course Europe,” said Lamy, who will step down next year as head of the 157-member group that has so far failed to agree on major reforms of global trade rules.

“We also know U.S. growth is lower than expected, (and) Japan is not in great shape.”

The WTO now expects 1.5 percent growth in exports from developed economies this year, instead of the previous forecast of 2 percent.

Those from developing countries are seen posting 3.5 percent growth, down from 5.6 percent previously.

It sees developed nations more than doubling their export growth to 3.3 percent next year and developing countries exporting 5.7 percent more.

The WTO said in a statement that its 2013 estimates assumed current policy measures would be enough to avoid a breakup of the euro and that agreement would be reached to stabilize public finances in the United States and avoid automatic spending cuts and tax increases early next year.

Copyright 2012 Reuters. Click for restrictions.Email ThisPrintNewslettersTweetCategories: International NewsTopics: decrease, Economy, Europe, forecast, GDP, growth, world trade, WTOHave a hot lead? Email us at newsdesk

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MAPFRE Q1 Results: Total Revenue Tops $8.8 Billion, Latin American Growth

, an 11.5 percent increase compared to Q1 2011, “thanks to sustained growth of the international business,” the report noted. Recurring results grew by 3.7 percent, to

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Willis Post $225 Million Q1 Net Income; Strong Growth

April 27, 2012Email ThisPrintNewslettersTweetArticleComments

Willis Group Holdings reported net income from continuing operations for the quarter ended March 31, 2012 of $225 million, or $1.28 per diluted share, compared with $35 million, or $0.20 per diluted share, in the same period a year ago.

Willis noted that the Q1 result was “impacted by a $13 million charge for write-off of uncollectible accounts receivable together with associated legal fees related to previously disclosed fraudulent activity in a stand-alone North American business.”

 It also reported that Q1 net income in 2011 “was impacted by a $97 million charge related to the 2011 operational review, $171 million make-whole amounts related to the repurchase and redemption of Senior Notes and write-off of unamortized debt issuance costs, and a $4 million gain on disposal of operations. 

“Adjusted net income from continuing operations (which excludes the after-tax impact of those items discussed above) for the quarter ended March 31, 2012 was $233 million, or $1.32 per diluted share, compared with $224 million, or $1.29 per diluted share, in the same period a year ago.  Foreign currency movements decreased earnings by $0.02 per diluted share in the first quarter of 2012 compared with the first quarter of 2011.”

Other highlights were listed as follows: 


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Slight Insurance Job Growth Calls for Competitive Candidates

San Diego, CA May 08, 2012. Matrix Direct, one of the nation’ s top direct-to-consumer term life insurance agencies, this month is offering its Facebook fans the chance to win a digital camera in an online photo contest. The company’ s ” Picture Those You Helped Protect” contest encourages consumers to proudly display photos of the spouses, children and other loved…’,”, 300)” onmouseout

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