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Cathay Insurance Co., Ltd., a unit of Taiwan’s Cathay financial Holding Co., Ltd., has gained a regulatory approval to set up a branch in Shandong, a province in eastern China. The Shandong branch will be the fifth province-level subsidiary Cathay Insurance Co. builds after those in Jiangsu, Fujian, Guangdong and Zhejiang in the country. There [...]
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. [...]
China Taiping Insurance Group 2010 Premium Income Up 40%
January 31st, 2011 
gary China Taiping Insurance Group Co. brought in more than CNY 43.8 billion premium revenue from public and non-public vehicles in 2010, leaping by 40 percent year on year, chairman Lin Fan disclosed in a January 23 interview. The group grew total assets and net assets to CNY 136.8 billion and CNY 16.8 billion as of [...]
CITIC-Prudential Life to Move from Guangzhou to Beijing
January 31st, 2011 gary CITIC-Prudential life insurance Company Ltd. has decided to move the head office from Guangzhou to Beijing. As a joint venture life insurance firm, CITIC-Prudential Life has CITIC Group as the majority shareholder, who has abundant customer resources in Beijing. Therefore, the removal of the head office is expected to further drive the business development of [...]
Ping An of China 2010 Premium Income Topped CNY200bn
January 20th, 2011 gary Ping An Insurance (Group) Company of China Ltd. (SHSE: 601318, SEHK: 2318) recorded more than CNY 226.56 billion in premium revenue in 2010 in terms of the standards prior to new accounting principles, according to an announcement it posts on January 18. The premium income from Ping An’s life insurance, property insurance, health insurance and [...]
Secretary Vilsack: Rural America needs health care law
January 20th, 2011 gary Wanted to make sure you saw this op-ed that ran in The Chatham Star Tribune by Agriculture Secretary Tom Vilsack about the importance of the new health care law to rural Americans. As always, please let me know if you have any questions! Rural America needs health care law By Agriculture Secretary Tom Vilsack Recent [...]
Kline Remarks on Repealing the Democrats’ Government Takeover of Health Care
January 20th, 2011 gary WASHINGTON, D.C. — U.S. House Education and the Workforce Committee Chairman John Kline (R-MN) delivered the following remarks today on the floor of the House of Representatives during debate on legislation that would repeal the Democrats’ government takeover of health care: “For 20 consecutive months more than 14 million Americans have been unemployed. As much [...]
Health Care Reform Law Fact Check: The Health Reform Law Hurts Our Economy
January 20th, 2011 gary Health Care Reform FACT CHECK: The Health Reform Law Hurts Our Economy What Republicans are Saying: Rep. John Fleming said: “With higher taxes and more constrictions on businesses… employed Americans will continue to decline or become an endangered species altogether.” Here Are the Facts: While Americans are still facing tough times, employment is not in [...]
Insurance policies need regulation: Queensland Treasurer
January 20th, 2011 gary The Australian insurance industry can self-regulate to properly define storm and flood damage or it might find a new flood insurance regime imposed upon it, Queensland’s treasurer says. Treasurer Andrew Fraser said that to homeowners there is no apparent difference in the damage caused by storm, flash-flooding or riverine-flooding. * “Certainly, the clean-up required does [...]
