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Fubon Property & casualty insurance Co., Ltd. (Fubon P&C) is waiting for the Chinese regulatory approval for it to have Xiamen Port Holding Group as a new shareholder. Resolution passed by the Taiwan property insurer’s board showed that the company is to raise the capital base from CNY 400 million up to CNY 500 million. [...]
Insurance Firm Sues CPA for $5.7 Million
An insurance company claims that relying on false financial statements has cost it $5.7 million. Travelers Casualty & Surety Co. of America has filed a federal lawsuit against the CPA, H. Neal Privitt of Little Rock, who provided the financial statements in an attempt to recover the money. Travelers was the surety bonding company for [...]
ASIAN-BASED IGATE’S Q3 NET INCOME UP 60% AT US$14.3 MLN
US-based, Indian-focused IT outsourcing firm iGATE on Wednesday said its net income jumped by 60.67 per cent to US$14.3 million in the quarter ended September 30, 2010. The company, which earns 80 per cent of its revenue from North American markets, had registered a net income of $8.9 million in the third quarter last year. [...]
Herald-Tribune wins Pulitzer for series on Fla.’s insurance industry
April 19th, 2011 
gary Two-year investigation, St. John examined the arcane property insurance system and created a unique database that assessed insurer reliability. “While hurricanes may have gotten more dangerous, the reason we are paying more is we have a whole new system driving the insurance market,” said Chris Davis, St. John’s editor on the series and the newspaper’s [...]
USF residencies at All Children’s Hospital face an uncertain future
April 18th, 2011 gary For nearly 40 years, future pediatricians from the University of South Florida’s College of Medicine have done their on-the-job training — or residencies — at All Children’s Hospital in St. Petersburg. But that relationship faces an uncertain future with the arrival of Baltimore-based Johns Hopkins Medicine, which earlier this month formally joined forces with the [...]
Pacific Property Insurance Underwrites Shanghai Disneyland
April 18th, 2011 gary China Pacific Property Insurance Co., a subsidiary of China Pacific Insurance Group, acts as leading underwriter for the first phase of Shanghai Disneyland Resort. The insurer underwrites contractors all risks and third-party liability insurance for the site forming on A-1 land in Chuansha Town and construction of municipal road and auxiliary facilities with a total [...]
Taikang Life to Sell Subordinated Bonds
April 18th, 2011 gary Beijing-based life insurer Taikang life insurance Co. will sell CNY 4 billion or USD 610 million worth of subordinated bonds late this month, sources disclosed. This time, CITIC Securities Co. (600030.SH) will be the lead underwriter for the bond sale of Taikang Life. As the foreign strategic investor of the insurer, Goldman Sachs is expected [...]
China Direct Investment to ASEAN Exceeds USD10bn
April 11th, 2011 gary China’s direct investment to the ASEAN (Association of Southeast Asian Nations) has accumulated to over USD 10 billion, Vice Commerce Minister Gao Hucheng said at a conference recently. The ASEAN has become a major destination for the nation’s investment and also one of the best choices for Chinese companies to go global. In 2010, the [...]
AUST LENDER BENDIGO RE-BRANDS WEALTH MANAGEMENT DIVISION
April 11th, 2011 gary Australian lender Bendigo and Adelaide Bank (ASX:BEN) has consolidated and re-branded its wealth management operations into a new business unit dubbed Bendigo Wealth. The new unit will incorporate the bank’s full suite of wealth management brands acquired over the years, including Leveraged Equities, Adelaide Bank Wealth Deposits and Sandhurst Trustees. Bendigo’s managing director Mike Hirst [...]
House plan cuts Moffitt’s cancer research money
April 1st, 2011 gary TALLAHASSEE — A House plan headed for a floor vote would take $50 million from cancer research programs — including $10 million for H. Lee Moffitt Cancer Center and Research Institute — and use it to help cover the state’s Medicaid bill. The $50 million comes from a portion of the $1 tax on a [...]
