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Insurance company Presidential Life Corporation (Nasdaq:PLFE) on Tuesday revealed that with effect from 18 August 2010 Duncan Szeto will be the new chief actuary of its operating subsidiary, Presidential life insurance Company (Presidential Life). Having joined Presidential Life in 2007 as VP of financial Modelling, Szeto succeeds Jerrold Scher who resigned for personal reasons. Additionally, [...]
Archive for September 1st, 2010
Presidential Life promotes Duncan Szeto as chief actuary of its subsidiary
Posted by gary on September 1st, 2010
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CHINA’S INSURANCE CAPITAL PREPARES TO ENTER PE MARKET
Posted by gary on September 1st, 2010
China’s Provisional Administration Measures on Insurance Capital Operation takes effect from Tuesday, which means that insurance companies could become qualified institutional investors to enter the private equity investment market. In early August, the China Insurance Regulatory Commission (CIRC) issued the Provisional Administration Measures on Insurance Capital Operation, specifying that insurance companies would be allowed to [...]
CFC Stanbic Seeks Regulator Reprieve to List on Bourse
Posted by gary on September 1st, 2010
CFC Stanbic Holding is seeking an exemption from the Capital Markets Authority (CMA) to enable it list its insurance business at the Nairobi Stock Exchange (NSE). “We are in discussion with the regulator over certain requirements which we may not meet and are seeking exemptions to enable us list the insurance business ,” said Mr [...]
Pair of local indicators point to growth
Posted by gary on September 1st, 2010
Amid a rise in unemployment in San Diego and Riverside counties, economic activity seems to be modestly strengthening, according to a pair of economic indices released Tuesday. The University of San Diego’s Leading Economic Indicators rose 0.3 percent in July compared with June, the 16th consecutive increase. “Consumer confidence is at its highest level in [...]
Economic Recovery Buoys up TA Investment Drive
Posted by gary on September 1st, 2010
TA Holdings Limited last week held its analyst and media briefing for the half-year ended June 2010 and told shareholders that the group is positioning its investments in the country to take advantage of the economic recovery. Management also indicated that they would be exploiting offshore growth opportunities in the insurance and hotel sectors. Currently, [...]
HONG KONG GENERAL INSURANCE PREMIUMS UP 14.5% IN FIRST HALF
Posted by gary on September 1st, 2010
Hong Kong’s Office of the Commissioner of Insurance (OCI) released Tuesday provisional statistics of the Hong Kong insurance industry for the first half of 2010. In the first half of 2010, gross and net premiums of general insurance business recorded a double-digit growth of 14.5 per cent to HK$16.6 billion (US$ 2.13 billion) and 11.8 [...]
TAIWAN ASKS AIG TO KEEP NAN SHAN LIFE INSURANCE ON LIFE SUPPORT
Posted by gary on September 1st, 2010
Taiwan’s financial Supervisory Commission (FSC) has asked the American International Group, Inc. (AIG) to keep running its Taiwan subsidy, Nan Shan life insurance Co., after the Taiwan Ministry of Economic Affairs nixed a bid by Hong Kong-based Primus financial Holdings Ltd. to acquire it. FSC vice chairman Wu Tang-chieh said the commission will negotiate with [...]
BRIEFING – ASIA INSURANCE – SEPT 1, 2010
Posted by gary on September 1st, 2010
CHINA’S INSURANCE CAPITAL PREPARES TO ENTER PE MARKET BEIJING – China’s Provisional Administration Measures on Insurance Capital Operation takes effect from Tuesday, which means that insurance companies could become qualified institutional investors to enter the private equity investment market. In early August, the China Insurance Regulatory Commission (CIRC) issued the Provisional Administration Measures on Insurance [...]
