SOURCE: The Bedford Report

The Bedford Report

December 20, 2010 08:46 ET

Like the GOP, Insurers Turn Their Attention to the Wealthy

The Bedford Report Provides Analyst Research on American International Group & Progressive

NEW YORK, NY--(Marketwire - December 20, 2010) - Earlier this month, the US economy was dealt a surprising setback when the US Bureau of Labor Statistics announced that unemployment rose from 9.6 percent in October to 9.8 percent in November as hiring slowed down. Paul Zemsky, the head of asset allocation at ING Investment Management, argues that "The U.S. economy is all about jobs and anything that leads folks to believe that there's a better job market will be good for equities." This is true of the insurance sector. With a weak economy and high unemployment levels, the middle class as a whole is not in a position to spend on new insurance policies. The Bedford Report examines the outlook for companies in the Property & Casualty Insurance Industry and provides research reports on American International Group, Inc. (NYSE: AIG) and Progressive Corporation (NYSE: PGR). Access to the full company reports can be found at:

To offset less revenue from the middle class, some of the nation's larger insurers have begun to devote their attention to the wealthier segment of the population as these clients are interested in protecting their estates from taxes.

The upper class was given an early Christmas present this month when the White House decided to compromise with Republicans and extended Bush era tax cuts for the top earners in the US -- though yesterday Vice President Joe Biden hinted that he and President Obama will fight to end the "morally troubling" tax cuts for rich Americans in the re-election year of 2012.

The Bedford Report releases regular market updates on the Property & Casualty Insurance Industry so investors can stay ahead of the crowd and make the best investment decisions to maximize their returns. Take a few minutes to register with us free at and get exclusive access to our numerous analyst reports and industry newsletters.

AIG has seen its share price skyrocket this month after the US Treasury said it is looking to sell its stake in the company "as quickly as practicable" and the company filed a master transaction agreement to repay bailout. AIG's chairman, Steve Miller said the success of the government in selling part of its stakes in Citigroup and GM signalled it will be able to divest its majority holding of the insurer.

The Bedford Report provides Analyst Research focused on equities that offer growth opportunities, value, and strong potential return. We strive to provide the most up-to-date market activities. We constantly create research reports and newsletters for our members. The Bedford Report has not been compensated by any of the above-mentioned publicly traded companies. The Bedford Report is compensated by other third party organizations for advertising services. We act as an independent research portal and are aware that all investment entails inherent risks. Please view the full disclaimer at

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