Archive for 'General Insurance'
Paynet is introduced in Uzbekistan insurance market
13 February 2009Company “Paynet”, which has earlier signed the agreement with the insurance company “Alfa Invest”, has started to render service in realization, registration of policies and reception of payments for obligatory insurance of civil liability of vehicles owners.
Sale of policies is carried out through a dealer network “Paynet”, which now possesses over 16 thousand affiliates in [...]
Fortis: unprofitable and unattractive
11 February 2009Fortis is expecting shareholders’ voting concerning purchase of a share of its Belgian division by the French group BNP Paribas. According to Belgian newspapers De Tijd and L`Echo, the plan of future measures in case if shareholders will not approve the transaction, is being worked out.
The largest shareholder - Fortis Chinese Ping An - has [...]
ING expects the loss on results of 2008
28 January 2009The largest public financial group of Netherlands ING Groep NV expects, that pure losses of 2008 will make approximately 0,4 billion euro.
In 2008 pure losses after sale of divisions and sales of expenses will make 1,0 billion euro.
Thus bank activity should bring to group 0,5 billion of net profit - owing to the franchise in [...]
Israeli insurers have suffered from Bernard L. Madoff
21 January 2009On Sunday Israeli insurance companies have let out reports on the possible losses in connection with the swindle of American financier Bernard Madoff, which has been disclosed last week.
Swindle, in result of which the general losses of the deceived investors can reach $50 billion, have been already named the largest swindle in Wall Street’s history. [...]
Insurance giant AIG sells the division because of debts
13 January 2009German Munich Re will buy HSB Group, belonging American International Group, for $742 million to expand presence in the USA.
Company Hartford Steam Boiler Inspection and Insurance, which provides covering wide spectrum of risks, is HSB’s basic active. In 2007 after payment of taxes HSB’s profit has made $158 million, and the total premium - $904 [...]
“HDI Insurance” has registered increase in the authorized capital
3 January 2009insurance company “HDI Insurance” has registered increase in the authorized capital from UAH 10 million - up to UAH 28 million. About it is spoken in the message of the insurer.
According to the message, on December, 11th, the State commission of Ukraine under securities and the share market has given the certificate on registration of [...]
Fortis will not face block Netherlands’ actives
24 December 2008Ministry of Finance of Holland considers that the decision of the Bruxelles blocking accounts of insurance group Fortis till February, 12th, does not concern purchases by the of the actives which are in Netherlands this country.
In October, 2008, Netherlands government has bought bank Fortis Nederland, bank ABN Amro and insurance company Fortis Verzekeringen for 16,8 [...]
Dutch ING has declared about losses
17 November 2008In III quarter of 2008 Dutch financial group ING Groep N.V. has for the first time for the history declared about losses.
For the accounting period pure loss of the company has made 478 million euro in comparison with net profit at the rate of 2,3 billion euro year before.
The company explains deterioration of financial indicators [...]
AIG will receive more than $150 billion
11 November 2008The government of the USA has increased volume of assistance, given to the insurance company AIG, up to $150 billion and has lowered interest rates under the credits and has given it more time for sale of actives.
Support conditions allow the government to receive the greatest part of profit in case of growth of cost [...]
Islamic insurance market gets activated
6 November 2008The market of Islamic insurance (takaful) has grown on 64 % in Bahrain and on 46 % in the United Arab Emirates.
Despite global crisis Islamic insurance in the United Arab Emirates and Qatar gets activated. The average size of insurance awards per capita has exceeded up to 554,8 dollars.
Islamic insurance branch of the United Arab [...]
