RSS Feed
Indian insurance regulator Insurance Regulatory and Development Authority (IRDA) has said it will come out with guidelines for initial public offering (IPO) of life insurance companies within a week. “We will be approaching for the gazetting sometimes later this week,” IRDA Chairman J Hari Narayan told reporters here on the sidelines of Assocham’s Global Insurance [...]
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. [...]
Insurer Australian Unity Says More Home Care To Cut Claims
September 9th, 2011 
gary Health insurer Australian Unity is providing more home care for patients who have been in hospital in a bid to slow rises in claims and health insurance premiums. Australian Unity’s head of healthcare, Amanda Hagan, says providing post-hospital home care for patients suffering diseases such as diabetes or patients requiring rehabilitation after knee and hip [...]
Philippine American Life To Focus On Broader Market Products
September 9th, 2011 gary Philippine American Life and General Insurance Company (Philam Life) in eyeing double digit growth again this year with the help of its campaign to instill among Filipinos the idea that having insurance is not just for the affluent but for all. Philam Life Senior Vice President for marketing Jessica Abaya, in a briefing, declined to [...]
Chinese Insurers Eyed As The Biggest Bond Seller In Aug.
September 9th, 2011 gary Chinese insurance institutions became the main force of short-selling on the bond market in August. In last month, insurance firms slashed their bond inventories by a total of 25.164 billion yuan to 1980.062 billion yuan (US$309.86 billion) from July. In terms of different bond varieties, China’s insurers reduced 14.937 billion yuan of debentures in August, [...]
Australian Opposition To Sink Private Health Insurance Reform
August 30th, 2011 gary Australia’s federal opposition is confident independent MPs will side with the coalition in parliament’s lower house to sink Labor’s proposed changes to private health insurance – for a third time. The government wants to means-test the 30 per cent rebate and increase the Medicare levy surcharge for those without cover in order to save A$2.8 [...]
Japan’s Pia To Offer Insurance Cover On Theater, Sports Tickets
August 30th, 2011 gary Japan’s Pia Corp. (TSE:4337) will begin offering an insurance service guaranteeing full refunds of tickets for music and theatrical performances as well as some sporting events if the ticket holder is unable to attend due to such reasons as a sudden illness or business trip. The top entertainment ticket seller will team up with a [...]
China Pacific’s First-Half Profit Rises 45% on Life Growth, Underwriting Improvement
August 30th, 2011 gary based China Pacific Insurance (Group) Co. Ltd. said its first-half net profit rose 44.7% due to the rapid growth of life insurance profitability and significant underwriting profit improvement in property/casualty insurance. Net profit rose to 5.82 billion yuan (US$911 million) from 4.02 billion yuan a year earlier. life insurance net profit was 2.79 billion yuan, [...]
Nci To Sell 24 Per Cent Stake In Beijing Hotel Expansion Pjt Before Ipo
August 30th, 2011 gary The Beijing financial Assets Exchange on Monday said that New China Insurance (NCI) is planning to sell its 24 per cent stake in a company established for an expansion project of Beijing Hotel held by NCI. Previously, it was reported that the insurance company was planning to conduct an initial public offering (IPO) in Shanghai [...]
