Archive for December, 2010

Insurers May Feel Left Out of Debate over Regulation

As the United Kingdom moves toward a new system of financial services regulation, the insurance sector may find itself struggling to be heard, according to Pollyanna Deane, a partner in the London law firm of Berwin Leighton Paisner LLP. “It’s almost been assumed that insurance won’t have a role to play and that they are [...]

Chinese Insurers Need More Investment Options to Offset Risks

s_2008311172656

Solvency requirements and capital reserves among Chinese insurers are unlikely to limit their investment capabilities, but Swiss Re noted that constraints on permissible investment products are limiting domestic insurers’ investment options and their appetite for and ability to shoulder risk. In China, capital markets have not been fully developed, particularly on the fixed income front. [...]

Cathay Insurance Opens Guangdong Branch

Cathay Insurance Co., Ltd. opened its Guangdong branch on December 20, becoming the first Taiwanese non-life insurance operation there. The Guangdong branch will primarily provide property insurance for enterprises and cargo transportation insurance as well as will introduce product liability insurance that is popular in Taiwan into the mainland. Cathay Insurance, a 50/50 joint venture [...]

CHINA’S PING AN INSURANCE, SSB CLARIFY INTEGRATION PLAN RUMOURS

Ping An Insurance Group Co (SSE:601318, SEHK:2318) and Shenzhen Development Bank (SDB, SSZ:000001) have jointly issued a statement to clarify rumors that their integration plan has been withdrawn by Shenzhen Banking Regulatory Bureau, Shanghai Securities News reported Monday. Ping An Insurance said the acquisition plan is being examined in accordance with the original plan. As [...]

GE HEALTHCARE TO MKT INFANT SLEEPING BAG FOR INDIA’S RURAL POOR

GE_Healthcare

GE Healthcare, in partnership with the NGO Embrace International will distribute a low-cost ‘infant warmer’ that looks like a small sleeping bag to rural Indian children early next year. Costing less than one per cent of the traditional incubators, the infant warmers can help keep small babies warm for hours. “This product will be distributed [...]

Baldwin & Lyons Taps 29-Year Company Veteran as New CEO

Baldwin & Lyons Inc. named Joseph J. DeVito, who has been with the Indianapolis-based property/casualty insurer for nearly three decades, as its new chief executive officer. DeVito, who has held various positions with Baldwin & Lyons since he joined the company in 1981, succeeds Gary W. Miller, a 45-year company veteran who has served as [...]

Sinosure Backs Fujian Exports

China Export & Credit Insurance Corporation (Sinosure) is estimated to help Fujian, a province in the southeast of the country, achieve an export value of USD 5.3 billion this year, leaping about 70 percent from last year, and the growth rate is forecast at 25 percent, according to a head for Sinosure local branch. Sinosure [...]