Starr Underwriting Agents and Starr Specialty Lines Insurance Agency, both subsidiaries of CV Starr & Company, have opened a political risks underwriting unit in CV Starr’s New York headquarters. This expansion compliments the existing London operation. CV Starr is an independently owned holding company with insurance agencies and a portfolio of global investments. Through its [...]

P&C Insurance Systems, or PCIS, a provider of policy administration and claims solutions, has announced that Unified Grocers Insurance Services, or UGIS, has renewed its contract for the PCIS claims system. In addition to the contract extension, UGIS will benefit from the Medicare reporting enhancements incorporated into the latest version of the PCIS claims solution, [...]

 Fitch assigned today an AA+(idn) insurer financial strength (IFS) rating with a “stable” outlook to Indonesian company PT Asuransi Sinar Mas. The rating reflects the insurer’s top position in the Indonesian market, its consistently sound financial performance, prudent reinsurance support and adequate capital buffer, which is in line with its business profile, the agency said. [...]

MUMBAI – Hinting at a major overhaul in the regulations for India’s insurance sector, the Insurance Regulatory and Development Authority (IRDA) on Tuesday said it will soon come out with merger and acquisition norms for the insurers and initial public offer (IPO) guidelines are already on the way. At the same time, IRDA also favoured [...]

China’s outstanding balance of insurance funds under management reached CNY 4.3 trillion as of August 31, 2010 and insurance funds’ return on investment averaged 2.77% in the first eight months of this year with an annualized return of 4.16%, according to the China Insurance Regulatory Commission. Of the total balance, bank deposits accounted for 29.7%, [...]