Insurance Australia Group (IAG, ASX:IAG) says it is on track to deliver on its full year financial guidance after an encouraging performance in the first quarter. Chief executive Mike Wilkins told the insurer’s annual general meeting on Wednesday that gross written premium growth in the first few months of the financial year was encouraging, while [...]

The Beijing financial Assets Exchange on Monday said that New China Insurance (NCI) is planning to sell its 24 per cent stake in a company established for an expansion project of Beijing Hotel held by NCI. Previously, it was reported that the insurance company was planning to conduct an initial public offering (IPO) in Shanghai [...]

Investment is expected to become an engine of Indonesia`s economic growth in the future, Coordinating Minister for Economy Hatta Rajasa said here on Friday. If this happens the people will no longer depend on household consumption, the minister said. “Growing nearly double-digit over some 20 per cent, the investment at present is very strong and [...]

Housing Development Finance Corporation (HDFC, BSE:500010) has said that it may come out with an initial public offering (IPO) for its insurance business in about two years. “We are planning to come up with an IPO for insurance in two years,” HDFC Chairman Deepak Parekh said at the annual general meeting (AGM) of the company. [...]

The deputy minister of trade has reported that the National Petrochemical Industry Company will be merged with the Ministry of Industry, Mining and Trade and said: Some state-owned sectors in free zones and Iran’s Export Development Bank and Industry and Mining Bank will be merged with the new ministry. The merger of some sectors in [...]

China Export & Credit Insurance Co., Ltd. (Sinosure), a policy-oriented insurer, will compensate up to USD 99 million to Zhengzhou Yutong Group Co., Ltd. for the latter’s defaulted payment by Cuba importer. The compensation will be paid on five installments. The first installment of USD 14.27 million was paid this March and the second installment [...]

Simultaneously with Anti-drug Week, 1,257 kg of various kinds of drugs were destroyed in a ceremony in Esfahan today. [Shahmohammadi, acting head of the provincial coordination council to combat drugs] On the occasion of Anti-drug Week, 300 kg of hashish, over 700 kg of crack and chemical materials and 123 kg of different types of [...]

Despite forecasts of looming trouble in government-employee pensions, and a sluggish national economy, managers of the state’s investments got an encouraging report Thursday on the Florida Retirement System’s investments. Ash Williams, director of the State Board of Administration, said the fund’s assets have a net value of $126.7 billion. That’s up by about $17 billion [...]