Following the release of the measures for insurance institutions to make the realty investment, Taikang life insurance Co. is going to set up a realty investment management company with registered capital of CNY 300 million, reports said. According to the latest measures of China Insurance Regulatory Commission, the nation’s insurers are only allowed to invest [...]

The Monetary Authority of Singapore said it plans to impose the revised deposit insurance scheme in early 2011 in a bid to enhance protection for depositors, given positive feedback from insurance sector and customers. Under the new scheme, insurance coverage for each depositor will increase from S$20,000 (US$14,889) to S$50,000. The regulator said 91% of [...]

A.M. Best Company has made the following rating update: Company: Alterra America Insurance Company AMB Number: 2061 Current Rating: A Previous Rating: A

A.M. Best Company has made the following rating update: Company: Southern General Insurance Company AMB Number: 3836 Current Rating: B++ Previous Rating: B++

The China Insurance Regulatory Commission (CIRC) on Sept 5 issued detailed rules governing insurance companies’ investment in real estate projects and unlisted companies. The rules could help insurance companies expand their investment channels. They include Provisional Measures on Insurance Capital’s Investment in Real Estate and Provisional Measures on Insurance Capital’s Investment in Equity of Non-listed [...]

The director of Mulumba Inc, Stephen Wakhweya, accused of mismanaging sh31m of the Global Fund money, bought medical insurance worth 7.2m from the International Air Ambulance (IAA) Hospital. Flavia Nansubuga, the operational manager of IAA, told the Anti-corruption Court yesterday that Wakhweya was registered as a silver client of IAA in the name of Mulumba [...]

Insurance Australia Group Ltd (ASX:AIG) expects claims from the New Zealand earthquake to be “entirely covered” by reinsurance arrangements and reaffirmed earnings guidance for the current year. The insurer added in a statement on Monday that it was too early to tell how much damage had been caused by the magnitude 7.1 earthquake which struck [...]

Kotak life insurance on Thursday launched two new unit-linked insurance plans (ULIPs) — Kotak Secure Invest Insurance and Kotak Wealth Insurance-meeting the new Irda guidelines. Kotak Secure Invest Insurance is an equity exposure plan and is backed by capital guarantees with in-built investment advice of the guarantee fund. It also helps the customer gain from [...]