Insurance News
Shanghai Debuts Hull Insurance Survey&Loss Adjuster Company
China's first specilist hull insurance surveyors loss adjusters company was debuted in Shanghai on November 30, which can boost the construction of international shipping center there. Shanghai Hull Insurance Surveyors Loss Adjusters Compan...
ALLIANZ INDONESIA REPORTS 48% RISE IN INCOME TO US$437 M
JAKARTA, Nov 23 Asia Pulse - The Allianz group in Indonesia reported gross premium income of Rp3.93 trillion (US$437 million) in the first nine months of this year or an increase of 48 per cent year-on-year. PT Asuransi Allianz Life contrib...
PUBLIC FUNDS PUT BANK AT DISADVANTAGE: JAPAN'S RESON
Resona Holdings Inc. (TSE:8308) decided to repay 900 billion yen (US$10.8 billion) in public funds because being indebted indefinitely to taxpayers will have a detrimental effect on the bank's business by worrying employees and spurring har...
INDIA'S SKS MICROFINANCE TANKS 20 PCT ON EARNINGS CONCERNS
SKS Microfinance (BSE:533228) tanked by 20 per cent on the BSE on Thursday after it said future profitability could be hit by the Andhra Pradesh ordinance reining in microfinance institutions' activities, which has already hurt collections...
TAIWAN'S HON HAI SIGNS CO-OP ACCORDS WITH SILICON VALLEY FIRMS
Hon Hai Group, the world's largest contract electronic product maker, signed memoranda of understanding (MOUs) Thursday with venture capital firms from California's Silicon Valley to serve as an incubator for new technology development in T...
China Insurers Keen to Replenish Capital
Insurance companies in China are keen to replenish their capital base in the fourth quarter, laying a foundation for future expansion. China Insurance Regulatory Commission recently approved BoCommLife Assurance Company Ltd., AXA-Minmetals...
Many Insurers Conducted Equity Transfers
This year, some insurers of China conducted the equity transfers. This March, Guodian Capital Holding Co. as a subsidiary of state-owned Guodian Corporation had purchased a 50% stake in Old Mutual-Guodian Life Insurance, previously known as...
Funeral home owner Rev. Jeffery Williams arrested again
Just five days after being arrested for the fifth time this year, the owner of Anniston Funeral Service Inc. was back in jail again Thursday. The charge for which he was arrested is a misdemeanor: refusing to surrender a corpse. Calhoun Cou...
ING gears up for insurance sale
ING will probably spin-off its insurance arm in two separate stock market listings in Amsterdam and New York, says chief executive Jan Hommen. ING would have a Europe-focused listing for its Asian insurance business, while a US initial publ...
Insurance Intermediaries Busy with Listing
Huakang Financial Service, Inc. and China Meichen Financial Group, two insurance intermediaries based in the southern Chinese province Guangdong, are planning to go public in 2011. The former prepares to get listed on the stock market of th...
Insurers Meet Bottlenecks in Cross Sales with Banks
Currently, those insurance companies under the control of commercial banks are troubled by the sales channels, development strategies and risk control problems. While an insurance company wants to boost the cross sales with the commercial b...
Ctrip.com Q3 Net Profit Up 70% to USD48mn
Ctrip.com International, Ltd. (Nasdaq: CTRP), a renowned online traveling service provider in China, unveiled its unaudited financial report for the quarter ended September 30, 2010 yesterday, saying that net profit jumped 70% year on year...
Dongfeng Nissan Improves Insurance Service
Dongfeng Nissan Passenger Vehicle Company lately announced the upgrade its insurance management service from November 2. In the first three quarters, more than 500,000 customers enjoyed the service. Dongfeng Nissan started providing insuran...
AM Best says Nevada General Insurance's ratings intact by sale agreement
2 November 2010 - AM Best has commented that the financial strength rating (FSR) of A (excellent) and the issuer credit rating (ICR) of a of US Nevada General Insurance Co (NGIC) (Las Vegas, NV) are unaffected by local Mutual of Enumclaw In...
PCIS Introduces ClaimsVISION Claims Administration System
PCIS, a proven and trusted provider of policy administration and claims solutions, today announced the release and immediate availability of ClaimsVISION, a highly automated and user configurable, Software as a Service (SaaS) delivered clai...
Ping An Insurance Q1-3 Net Grew 8.4%
Ping An Insurance (Group) Company of China, Ltd. (SHSE: 601318; SEHK: 2318), the country's second biggest insurer by premiums, on October 28, 2010 issued a fiscal report, showing that net profit hit CNY 13.197 billion in the first three qua...
China's Ping An Insurance posts US$1.9bln in profit in q3
PING AN INSURANCE (GROUP) COMPANY OF CHINA (Ping An, SSE:601318, SEHK:02318) reported 13.197 billion yuan (US$1.9 billion) of net profits attributable to shareholders in the first three quarters of this year, up 8.4 per cent year on year, s...
Foreign Capital Encouraged to Establish Insurance Agency
Foreign capital is encouraged to establish large insurance agencies and insurance sales firms in China, according to proposals the China Insurance Regulatory Commission (CIRC), the top Chinese insurance regulator, released on the reform and...
Insurance Industry Set to Hold Annual Conference
THE Insurance Industry of Zimbabwe (IIZ) will hold its Annual Conference next month amid concern the sector is still to turn around the corner. The conference to be held from November 7 to 9 at Troutbeck Inn in Nyanga, comes at a time when...
Pension Fund Association Looks Beyond Borders
THE Zimbabwe Association of Pension Funds has asked government to outlaw a piece of legislation barring the association from investing beyond the country's borders owing to a subdued performance on the local capital markets. The sector is e...
5 years after Wilma, South Florida struggles with insurance problems
This is an anniversary no one is celebrating. Five years after Hurricane Wilma whipped through South Florida, ripping holes in roofs and insurance companies, the insurance industry is still picking up the pieces and dealing with new problem...
Insurance Consciousness Week celebration highlights micro insurance
Micro insurance will be the focus of this year?s Insurance Consciousness Week being observed from Oct. 26 to 30 by the 85 member companies of the Philippine Insurers and Reinsurers Association (PIRA). PIRA Chairman Michael Rellosa said micr...
INDIA'S RELIGARE ENTERPRISES POSTS US$5MLN PROFIT LOSS IN Q2
Indian financial services firm Religare Enterprises (BSE:532915) on Wednesday reported a consolidated net loss of Rs 24.2 crore (US$5.47 million) in the second quarter of the current fiscal year, mainly on account of investments in its subs...
SOFTBANK PUSHING IPADS TO JAPANESE BUSINESSES
Softbank Corp. (TSE:9984) is stepping up efforts to market Apple Inc.'s iPads to companies, seeking to tap demand before rival tablet computers hit the market leading up to the year-end holidays. Softbank is touting the iPad as a tool to im...
Regulation Seen as Crucial to Pension Development in China
Even insurers with well-developed business portfolios find it is difficult to tap into the pensions market in Asian emerging economies, especially China, before further deregulation is achieved, according to insurance consultants. Unlike co...
CHINA PACIFIC'S LIFE INSURANCE PREMIUMS RISE TO US$10.37BLN
China Pacific Insurance Co. (CPIC, SSE:601601, SEHK:02601) announced on Tuesday that its life insurance premiums hit 68.9 billion yuan (US$10.37 billion) in the first nine months of this year. Its property insurance premiums totaled 39.1 bi...
Foreign Insurers Reconsider Chinese Business Models on Cost-Effectiveness
Since China opened up its insurance market after joining the World Trade Organization in 2001, several foreign players have modified their original capital-burning business models by trading off some equity interests for more local resource...
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Americans Say They Don''t Have a Voice Anymore, 2 In 5
Copyright 2009 Marketwire, Inc.All Rights Reserved Marketwire April 23, 2009
Merck sued over patent on allergy drug Singulair
NEW YORK_The battle over the patent on Merck and Co.'s allergy and asthma drug
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Humana Military Healthcare Services Promotes Flu
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CNA Appoints John Hennessy Chief Executive Officer,
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Copyright 2009 TheStreet.com, Inc.All Rights Reserved TheStreet . com May 18,
Sterling Financial Corporation of Spokane, Washington,
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