RSS Feed
American International Group, Inc. (AIG) announced that it has raised nearly $37 billion to repay the United States government through its sale of one insurance subsidiary, American life insurance Company (ALICO), and the initial public offering of a second, AIA Group Limited (AIA). AIG said it closed the sale of ALICO to MetLife, Inc. (MetLife) [...]
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. [...]
Ceridian Adds Employee Assistance, Wellness Tools
November 5th, 2010 
gary Ceridian US, a provider of managed human resource, health and productivity, employee benefits administration, and payroll and tax services, announced that it will help employers promote healthy and better-performing workforces by incorporating employee assistance support and wellness resources into its current solutions. “Companies that actively promote the health, productivity and performance of their employees are [...]
ACE Limited Names Bundschuh President of International Life Insurance Business
November 5th, 2010 gary ACE Limited announced that it has appointed Russell Bundschuh President of its international life insurance business. According to a release, in this role, Bundschuh will have executive responsibility for ACE’s global life insurance and life reinsurance operations. Bundschuh will be based in New York and will report to Ed Clancy, Chairman of the company’s Life [...]
Ping An Bank 13.36mn Shares on Sale at CNY292mn
November 1st, 2010 gary 13.3643 million shares or a 0.155% stake in Ping An Bank Co., Ltd., a bank subsidiary under Ping An Insurance (Group) Company of China, Ltd. (SHSE: 601318; SEHK: 2318), the country’s second biggest insurer by premiums, is on sale at CNY 39.02 million or CNY 2.92 a share. The shares, with corresponding assessed value of [...]
TURKISH TREASURY RELEASES FINANCING PROGRAM
November 1st, 2010 gary The Turkish Treasury Undersecretariat released its financing program on 2010 developments and 2011 projections last week. As in 2010, the financing program for 2011 has been prepared by taking into account the targets and assumptions in the Medium Term Programme (MTP), it said. The program said, “total amount of debt service is projected as 152.8 [...]
Serbian unions plan strikes, to seek government ouster over pension law changes
November 1st, 2010 gary Unions that oppose changes to the law on pension and disability insurance plan to launch a petition on 2 November to have the government ousted. The main reason for a set of actions to be launched on that day and continue until the bill is forwarded to the assembly, is dissatisfaction with the way the [...]
China Pacific Insurance Q3 Net Down 64.4%
November 1st, 2010 gary Unions that oppose changes to the law on pension and disability insurance plan to launch a petition on 2 November to have the government ousted. The main reason for a set of actions to be launched on that day and continue until the bill is forwarded to the assembly, is dissatisfaction with the way the [...]
AUST’S SUNCORP TO MOVE TO NON-OPERATING HOLDING CO. STRUCTURE
October 28th, 2010 gary Australia’s Suncorp-Metway Ltd (ASX:SUN) is to go ahead with a move to a non-operating holding company (NOHC) structure. Midway through a turnaround program, Suncorp said on Thursday a change in structure would further simplify the company. It will seek to create a new listed parent non-operating holding company, to be called Suncorp Group Ltd, overseeing [...]
