Insurance News
China Suspends Approval Of Access Of Regional Insurance Agencies
The China Insurance Regulatory Commission (CIRC) on Tuesday issued a notice saying it would suspend the approval of the access of regional insurance agencies into the market. Meanwhile the CIRC said it would support the establishment of qua...
No Plans To Shift To Paperless Insurance Model In India: Govt
Indian insurance regulator IRDA is not considering any proposal to shift the sector to a paperless model, but customers can opt for e-insurance. Insurance Regulatory and Development Authority (IRDA) has reported that there is no proposal to...
China Set To Establish Deposits Insurance System: Pboc Governor
China is poised to establish deposits insurance system, China's central bank governor Zhou Xiaochuan said in an article in China Finance magazine on Tuesday. He said that China would issue policies on the establishment of deposits insurance...
SPD Bank Inks Framework Deal with Dazhong Insurance
Dazhong Insurance Company Ltd. disclosed on February 21 that it had concluded a headquarters-to-headquarters cooperation framework agreement with Shanghai Pudong Development Bank (SPD Bank, SHSE: 600000) in Shanghai. SPD Bank said different...
Japanese Co.s To Be Hit By Health Insurance Expansion: Ministry
Japanese companies would incur up to 540 billion yen (US$6.96 billion) in additional costs if employee health insurance and pension programs are expanded to include a wider range of part-time workers, according to estimates compiled by the...
Cost Of Insuring Against Default By Japanese Co.s Declining
The cost of insuring against default by Japanese companies is gradually declining, particularly among companies with higher levels of creditworthiness. Concerns about the European debt crisis have abated, helping to bring conditions in the...
U.S. company hiring 3,000 in North America
State Farm Insurance of the United States announced Friday the company plans to expand their employment force across the U.S. and Canada by 3,000 in customer service-based sectors, as well as the addition of 900 insurance agents. State Farm...
China Records 40% Rise In Inter-bank Card Transaction In 2011
China's inter-bank card transaction was valued at 15.9 trillion yuan (US$2.52 trillion) in 2011, growing more than 40 per cent from a year earlier, said China UnionPay on Tuesday. Meanwhile, numbers of merchants, POS system and ATM machines...
PICC Reaped CNY 290.74bn Total Revenue 2011
According to the latest data released by The People's Insurance Company (Group) Of China Limited (PICC), the group reaped CNY 290.74 billion total revenue as of the end of 2011, up 9.8% year on year. The insurer in 2011 harvested CNY 248.41...
China, Possible Solvency Risks And Insurance Industry
China will keep an eye on potential solvency risks as it expands the insurance industry after the country's two-day national financial work conference that closed on January 7 proposing to vigorously nurture the insurance market and enhance...
Aust Insurer Qbe's U.s Business Under Probe
QBE Insurance (ASX:QBE) shares are in a trading halt after reports its United States business is being investigated by regulators. New York's Department of Financial Services reportedly is investigating banks and insurance companies over al...
Insurer Qbe's Shares Hit Eight Year Low
Shares in QBE Insurance (ASX:QBE) have plummeted to eight year lows after the company issued a surprise profit downgrade due to a record level of claims from natural disasters. The insurer expects its profit after tax for calendar 2011 to b...
Indonesian Govt Injects Us$88.8 Mln Into Credit Insurance Firm
The Indonesian government has injected Rp800 billion (US$88.8 million) into PT Asuransi Kredit Indonesia (Askrindo)to strengthen the capital of the state insurance firm. The fund will be used to increase the capacity of Askrindo to provide i...
S.korea In Talks With China Over Social Insurance Payments
South Korea is in talks with China to exempt its nationals from paying social insurance fees while working in the neighboring country, a Seoul official said Tuesday. The move comes after China introduced a law in October, requiring foreign...
Australian Insurer Suncorp Hopes To Benefit From Flood Payouts
Australiae's Suncorp Insurance is hoping its feel-good public image will be further buoyed by a report that shows its flood claim payouts have helped stimulate the Queensland economy. Suncorp Insurance Group was among the few companies to p...
China's Insurance Co.s Post 2.7% Investment Return In Jan-sept
China's insurance companies made 135.38 billion yuan (US$21.31 billion) of income from investing insurance funds in the first nine months of the year, with an average rate of return of 2.7 per cent, the China Insurance Regulatory Commission...
Malaysia's Hlm Takaful Eyeing Us$3.2mln From Mbsb Tie-up
Malaysia's Hong Leong MSIG Takaful Bhd (HLM Takaful) expects to net RM10 million (US$3.2 million) in gross premiums in the first year following the signing of a memorandum of understanding (MOU) with Malaysian Building Society Bhd (MBSB) fo...
China's Ping An Insurance Sees Profit Rise 13.8 Pct In Q1-q3
Ping An Insurance (Group) Co. (SSE:601318, SEHK:2318), China's second-largest insurer, said Thursday its profit rose 13.8 per cent year-on-year to reach 14.52 billion yuan (US$2.28 billion) for the first three quarters of 2011. However, the...
Queensland Floods Inquiry To Probe Insurance Payout Denials
The Queensland floods inquiry will on Tuesday investigate claims Brisbane residents were denied insurance payouts after their homes were flooded when sewage systems overflowed. In a written statement to the inquiry, Westlake resident Judith...
Australian Insurer Nrma Leads Calls For Return Of Services
It's been years since bowser boys filled up Australian cars or shop assistants carried bags. But Australia's largest general insurer says it's time to return to the good-old-days with some quality customer service. For a week starting on We...
China To Standardize Web Sales Of Insurance Intermediaries
The China Insurance Regulatory Commission (CIRC) has released a document to provide a framework for insurance intermediaries' online products selling and related risk control. The document provides detailed regulations over insurance interm...
Canada's Manulife Opens New Marketing Office In Jakarta
Canadian insurance company Manulife is to strengthen its investment relationship with Indonesia by opening a new marketing office in Jakarta, a Canadian official said. Indonesia is one of the fastest growing markets in the world for Manulif...
Chinese Insurance Co.s Cut Us$2.34bln From Ent. Bonds In August
Chinese insurance institutions continued to slash enterprise bonds by a total of 14.937 billion yuan (US$2.34 billion) in August, after a large cut of enterprise bonds in July. In last month, insurance firms accumulatively reduced their bon...
Ceo Of Australian Insurer Suncorp In For Long Haul
Australian insurer Suncorp Group's chief executive Patrick Snowball says he wants to stay in the position until at least 2015 after a change to his contract terms that includes a pay rise. Mr Snowball's contract was due to end on August 31,...
Insurance Australia Group Triples Fy Profit
Insurance Australia Group Ltd (ASX:IAG) has nearly tripled its full year profit to A$250 million (US$261.27 million) and the owner of NRMA and CGU expects insurance margin growth in the year ahead. The net profit for the 12 months to June 3...
Sri Lanka's Aviva Ndb Insurance Back In Black In June
Sri Lanka's Aviva NDB Insurance earned profits of 34 million rupees (US$309,706) in the June 2011 quarter returning from a loss of 46 million rupees a year earlier, with revenues growing from unit linked products, interim accounts show. The...
Bidv Insurance To List 66mln Shares On Hcm Stock Exchange
Vietnam's BIDV Insurance Corporation will list 66 million of its shares, valued at VND660 billion (US$32 million), on the Ho Chi Minh Stock Exchange on September 6 under the code BIC. The reference price will be VND11,500 (US$0.56) per share...
Today's Picks
Indiana teachers union to cover disability claims
INDIANAPOLIS_The Indiana State Teachers Association and the National Education
Aging of the population of the Workers Comp claims and
Copyright: Business Wire Source: Business Wire Wordcount: BOSTON--(BUSINESS
MaybachFinancial.com Posts Free Analyst Report on ETN,
LONDON -- (MARKET WIRE) -- 04/23/09 -- MaybachFinancial.com is one of the
Citizens Property Insurance is preparing to raise
State regulators announced today they will hold a public hearing Tuesday on
SPD Bank Inks Framework Deal with Dazhong Insurance
Dazhong Insurance Company Ltd. disclosed on February 21 that it had concluded a
Ind. teachers union to cover disability claims
INDIANAPOLIS_The Indiana State Teachers Association and the National Education
Merck sued over patent on allergy drug Singulair
NEW YORK_The battle over the patent on Merck and Co.'s allergy and asthma drug
Citizens Business Bank signs agreement with FDIC to
Bank holding company CVB Financial Corp (NASDAQ:CVBF) disclosed late Friday
Graniz Mondal Inc. Enters Into Letter of Intent With
MONTREAL, QUEBEC -- (MARKET WIRE) -- 06/22/09 -- Graniz Mondal Inc. (Graniz)
Sterling Financial Corporation of Spokane, Washington,
Sterling Financial Corporation (NASDAQ: STSA) today announced that its
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