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Insurance company Presidential Life Corporation (Nasdaq:PLFE) on Tuesday revealed that with effect from 18 August 2010 Duncan Szeto will be the new chief actuary of its operating subsidiary, Presidential life insurance Company (Presidential Life). Having joined Presidential Life in 2007 as VP of financial Modelling, Szeto succeeds Jerrold Scher who resigned for personal reasons. Additionally, [...]
HealthWyse partners with ZirMed
HealthWyse, a provider of home health and hospice software and services, has partnered with ZirMed, a provider of revenue cycle management solutions, to bring enhanced administrative and revenue cycle management functions to home health and hospice organizations nationwide. The partnership pairs ZirMed’s claims management and revenue generation tools with HealthWyse’s core set of enterprise capabilities, [...]
Zurich-Based Perils Tops $250 Million in Risk Transactions With Allianz-Munich Re Deal
Total placements of insurance risk transactions based on Perils AG’s industry loss index exceeded $250 million (198 million euros) in the first six months of 2010, the company said. The Zurich-based provider of industrywide European catastrophe insurance data said its latest transaction was related to a private placement between Allianz Risk Transfer and Munich Re, [...]
CHINA’S INSURANCE CAPITAL PREPARES TO ENTER PE MARKET
September 1st, 2010 
gary China’s Provisional Administration Measures on Insurance Capital Operation takes effect from Tuesday, which means that insurance companies could become qualified institutional investors to enter the private equity investment market. In early August, the China Insurance Regulatory Commission (CIRC) issued the Provisional Administration Measures on Insurance Capital Operation, specifying that insurance companies would be allowed to [...]
CFC Stanbic Seeks Regulator Reprieve to List on Bourse
September 1st, 2010 gary CFC Stanbic Holding is seeking an exemption from the Capital Markets Authority (CMA) to enable it list its insurance business at the Nairobi Stock Exchange (NSE). “We are in discussion with the regulator over certain requirements which we may not meet and are seeking exemptions to enable us list the insurance business ,” said Mr [...]
Pair of local indicators point to growth
September 1st, 2010 gary Amid a rise in unemployment in San Diego and Riverside counties, economic activity seems to be modestly strengthening, according to a pair of economic indices released Tuesday. The University of San Diego’s Leading Economic Indicators rose 0.3 percent in July compared with June, the 16th consecutive increase. “Consumer confidence is at its highest level in [...]
Economic Recovery Buoys up TA Investment Drive
September 1st, 2010 gary TA Holdings Limited last week held its analyst and media briefing for the half-year ended June 2010 and told shareholders that the group is positioning its investments in the country to take advantage of the economic recovery. Management also indicated that they would be exploiting offshore growth opportunities in the insurance and hotel sectors. Currently, [...]
HONG KONG GENERAL INSURANCE PREMIUMS UP 14.5% IN FIRST HALF
September 1st, 2010 gary Hong Kong’s Office of the Commissioner of Insurance (OCI) released Tuesday provisional statistics of the Hong Kong insurance industry for the first half of 2010. In the first half of 2010, gross and net premiums of general insurance business recorded a double-digit growth of 14.5 per cent to HK$16.6 billion (US$ 2.13 billion) and 11.8 [...]
TAIWAN ASKS AIG TO KEEP NAN SHAN LIFE INSURANCE ON LIFE SUPPORT
September 1st, 2010 gary Taiwan’s financial Supervisory Commission (FSC) has asked the American International Group, Inc. (AIG) to keep running its Taiwan subsidy, Nan Shan life insurance Co., after the Taiwan Ministry of Economic Affairs nixed a bid by Hong Kong-based Primus financial Holdings Ltd. to acquire it. FSC vice chairman Wu Tang-chieh said the commission will negotiate with [...]
BRIEFING – ASIA INSURANCE – SEPT 1, 2010
September 1st, 2010 gary CHINA’S INSURANCE CAPITAL PREPARES TO ENTER PE MARKET BEIJING – China’s Provisional Administration Measures on Insurance Capital Operation takes effect from Tuesday, which means that insurance companies could become qualified institutional investors to enter the private equity investment market. In early August, the China Insurance Regulatory Commission (CIRC) issued the Provisional Administration Measures on Insurance [...]
Dallas National Insurance chooses Stingray System
August 31st, 2010 gary Dallas National Insurance Company, or DNIC, has chosen The Stingray System for the processing of their personal and commercial lines of business. The company said The Stingray System from Maximum Processing will be utilized for policy, billing and claims, imaging and reinsurance processing. It said the system provides workflow, imaging, and many third party interfaces [...]
French Axa trims holding in US Goldman Sachs
August 31st, 2010 gary French insurance company Axa (EPA:CS) has reduced its stake in US Goldman Sachs (NYSE:GS) to 2.8% from 4.8% held earlier, data of the US Securities and Exchange Commission (SEC) showed today. According to the documents, the French insurer sold 14m shares of the investment bank for January to June, thus taking itself down its position [...]
QBE may look outside for chief’s successor
August 31st, 2010 gary QBE Insurance has rejected rumours about an imminent executive search for a replacement for CEO Frank O’Halloran, sparked by a report in UK magazine “Insurance Investor”. It had named Aon head and native Australian Peter Harmer as the chosen candidate. While an outside appointment had not previously been expected, experts note that the most often [...]
IDS Property Casualty Insurance Company Rating
August 31st, 2010 gary .M. Best Company has made the following rating update: Company: IDS Property casualty insurance Company AMB Number: 3563 Current Rating: A Previous Rating: A Incorporated by Ciak, Kenneth J., Dianne L Wilson, Larry W Frazier, Rebecca A Nash, Thomas R Moore, Walter S Berman, Ids Property casualty insurance Company is located at 3500 Packerland Dr [...]
