Rating agency A.M. Best Co. has affirmed the financial strength ratings (FSR) and issuer credit ratings (ICR) of the property and casualty (P&C) and life and health insurance subsidiaries of Assurant Inc. (AIZ). Additionally, A.M. Best has affirmed the issuer credit ratings of "bbb" and debt ratings of Assurant. Along with affirming the ratings of the parent, A.M. Best has also upgraded the FSR of four of its operating subsidiaries to "A" from "A-" and ICRs to "a" from "a-" with a stable outlook for all. The four subsidiaries are American Reliable Insurance Company, Voyager Indemnity Insurance Company, Reliable Lloyds Insurance Company and Caribbean American Property Insurance Company. A.M. Best acknowledges Assurant’s diverse product and distribution platform, established presence in various niche markets, adequate risk-adjusted capitalization, solid operating earnings, adequate interest coverage ratio of over 10.0X and sufficient financial flexibility. Negatives include an ongoing U.S. ...

Amerisafe, Inc.’s (AMSF) third-quarter earnings of 74 cents per share came in substantially ahead of the Zacks Consensus Estimate of 54 cents. This also compares favorably with the earnings of 65 cents in the prior-year quarter.   Despite an 11.9% year-over-year decrease in top line, results for the quarter benefited from solid expense management, which helped reduce expenses by 18.7%. An almost stable pricing environment was also observed during the quarter.   Total revenues for the quarter were $67.2 million, compared to $76.3 million in the prior-year quarter. During the quarter, the top line was down due primarily to decrease in audit adjustments and an 18.4% decline in net premiums earned that resulted from the soft insurance market condition as a whole. Both the voluntary premiums written and audit premiums for policies written decreased during the quarter.   Net income for the quarter increased 12.8% year over year ...

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Cavitation Technologies, Inc. (OTC Bulletin Board: CVAT) announced recently that it has signed Miura Engineering Co., Ltd. Tokyo, Japan (www.miura21.co.jp) as its new agent to serve markets in Japan for CTI’s Nano-Cavitation Process Systems. Miura is a leading Engineering Company specialized in Edible Oil Processing Plants in the Far East. Last week CVAT reported a 3-for-1 forward stock split.

IRIDEX Corporation (Nasdaq: IRIX) today announced that it will release its third quarter 2009 financial results after the

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Lincoln National Corp. (LNC) reported operating earnings of 84 cents in the third quarter, which was ahead of the Zacks Consensus Estimate of 80 cents. The company had earned $1.16 per share on an operating basis in the year-ago quarter.   The company experienced lower average variable account values compared to the prior-year period. Also, there were some modest losses on its alternative investments.   Lincoln reported a net income of $153 million or 44 cents per share compared with $148 million or 58 cents in the year-ago quarter. We note that there were fewer shares outstanding in the prior-year quarter.   The company managed to report better operating results on a quarter-over-quarter basis due to the appreciation in the equity market. Consolidated deposits increased 10% sequentially but were down 2% year over year to $5.3 billion. Net flows were up 25% sequentially and 34% year over year ...

div style="text-align: justify;"Sanford Bernstein is out downgrading span style="font-weight: bold;"American Intl Group (NYSE:AIG)/span to Underperform from Market Perform and maintaining their $10 tgt.br /br /Firm notes there are no changes to their thinking since their Q2 earnings writeup on August 10. Therefore, the downgrade is strictly a reaction to the big run up in AIG's stock price.br /br /Using their 3-part valuation model, Sanford can examine why they think AIG's current stock price allows very little chance for uncertainty, and fails to corporate considerable downside risk potential.br /br /span style="font-weight: bold;"− AIG's Q2 end book value per share to holders of common equity, after all Government stakes and support are eliminated, was $21.80./span They are using an estimated year-end book value per share of $14.30 as their starting assumption for other calculations. This amount included an announced charge of $5bn for Q3 as AIG accelerates amortization of its remaining ...

Delphi Financial (DFG) commenced a $63 million common stock offering for sale to the general public on Monday. Underwriters have a 30-day option to purchase up to an additional 15% of common stock from the company to cover over-allotments, if any.   Proceeds from the sale will qualify as tangible common equity and Tier 1 regulatory capital. Delphi intends to use the proceeds for general corporate purposes. Barclays Capital will act as sole book running managers for the offering.   Delphi had exposure to the current credit market turmoil, which can be seen in the material decline in the company’s GAAP equity and earnings as well as the diminished quality of capital in the company's insurance subsidiaries. In April this year, the company offered 10 million shares at $17.50 each.

Despite reporting a profit in 2008, Delphi's equity declined by $320 million, or 28%, to $820 million primarily due to

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After the market close yesterday, Lincoln National Corporation (LNC) reported its second quarter results. The company managed to report better operating results on a quarter over quarter basis, though year over year performance remained a struggle.

Earnings per share, excluding special charges, declined 35% year over year to $0.81, in line with Zacks consensus estimate and Street’s estimate of $1.25. GAAP EPS jumped 29% to $0.62. Total revenue decreased 22% year over year to $1.95 billion that missed our estimates as well as market expectations of $2.52 billion.

The decline in EPS was driven by a decline in equity markets coupled with losses on alternative investments. Also, affecting earnings were $19 million of restructuring charges relating to expense-save initiatives. Moreover, net operating income excludes $10 million of income from Lincoln UK, the sale of which is pending.

Net investment income declined to $970.6 million from $1.1 billion last year due to lower

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Torchmark surpasses expectations but lowers guidance Torchmark Corporation’s (TMK) second quarter operating earnings of $1.53 per share were 3 pennies ahead of both our expectation as well as the Street. This compares to operating earnings of $1.44 per share in the year-ago quarter. Results reflected strong growth in life sales, though health sales were significantly down in the quarter. However, the company has reduced its guidance for the full fiscal year 2009. The company now expects its net operating income per share in the range of $5.93 to $6.08, assuming no share repurchases. The previous guidance was $6.00-6.15 per share. Torchmark reported its second quarter earnings after market close on July 27. For the quarter, the company reported net income was $1.38 per share compared with $1.47 per share for the year-ago quarter. Life sales were strong in the quarter, primarily driven by the ...

Conseco Inc.'s (CNO) share price has steadily gained momentum in the last few months after touching record lows in March 2009. The company recently announced two events that could benefit its risk-based capital ratio.

Conseco has announced that two insurance companies in its Conseco Insurance Group segment will coinsure about 104,000 non-core life insurance policies with a Minnesota-based reinsurance firm Wilton Reassurance Company ("Wilton Re"). In the transaction, Wilton Re will pay a ceding commission of approximately $57.5 million and 100% coinsure and administer these policies.

The Conseco companies will be transferred to Wilton Re for approximately $409 million in cash, policy loans, $466 million of statutory policy and other reserves. The transaction is expected to be completed in 3Q09. As a result of this deal, Conseco expects to record an increase in its deferred tax valuation allowance of approximately $18 million and a deferred gain of

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For Immediate Release

Chicago, IL - June 2, 2009 - Zacks.com announces the list of stocks featured in the Analyst Blog. Every day the Zacks Equity Research analysts discuss the latest news and events impacting stocks and the financial markets. Stocks recently featured in the blog include: Prudential (PRU), Hartford Financial Services Group (HIG), Allstate (ALL), Lincoln National Corp. (LNC) and Principal Financial Group (PFG).

Get the most recent insight from Zacks Equity Research with the free Profit from the Pros newsletter: http://at.zacks.com/?id=4579.

Here are highlights from Monday's Analyst Blog:

Prudential Chooses to Go It Alone

Last month, under the Treasury Department's Troubled Asset Relief Program (TARP) the major insurers, including Prudential (PRU), Hartford Financial Services Group (HIG), Allstate (ALL), Lincoln National Corp. (LNC) and Principal

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