Archive for 'General Insurance'
American insurers can become banks
4 November 2008It looks like, American insurance companies, including Lincoln National Corp., will try to become banks to acquire the right to the part of the means intended for financial sector, within the 250 billion dollars program.
Dennis R. Glass is president and chief operating officer of Lincoln Financial Group has declared that he considers possibility of transformation [...]
Netherlands will allocate 10 billion euro for ING rescue
21 October 2008The government of the Netherlands will allocate 10 billion euro to support banking-insurance group ING.
Allocation of 10 billion euro, approved by the Ministry of Finance of the Netherlands and the central bank of the country, becomes a part of the plan of the government on support of financial sector.
In the context of anti-recessionary measures it [...]
Aviva has created global business - Aviva Investors
6 October 2008Aviva, 5-th on size largest insurance company in the world, transforms its business on management of actives so that within the nearest years it would become investment structure of the world scale and would considerably increase the contribution to profit of the group.
Today Aviva Investors controls more than 235 billion pounds sterling (297 billion euro/469 [...]
AIG is not going to sell business in Kazakhstan
30 September 2008Largest American insurance company American International Group (AIG) does not plan to sell the business in Kazakhstan - AIG Kazakhstan.
As it has been mentioned in the AIG’s report, the American insurer officially informs, that business AIG in Kazakhstan is not on sale. The company is stable, successful and financial steady, reserving leading positions in many [...]
Munich Re is to get insurance business in the East Europe and Asia
24 September 2008German reinsurance company Munich Re pays attention to sharp changes in insurance and reinsurance branch, comparing situation in market with the period after acts of terrorism on September, 11th, in the USA.
As “Deutsche Welle” transfers, in 2009 Munich Re predicts 2% growth of tariffs on insurance and reinsurance services. Since this moment tariffs will only [...]
Manulife studies an opportunity of AIG’s purchase
22 September 2008The largest insurance company of Canada Manulife Financial Corp. considers an opportunity of exhibiting of the offer on purchase of a part of American insurer AIG.
Manulife main executive director Dominic D’Alessandro and other top-managers of the company have held a meeting with financial advisers for studying ways of use of AIG possible division.
Canadian insurer’ Representatives [...]
Profit of Old Mutual has grown on 14 %
22 September 2008In the first half-year of 2008, profit of the British insurer Old Mutual, earning the most part of the profit in Southern Africa, has grown on 14 %.
The profit of the company has made 549 million pounds or 10,5 pence per share. The greater growth has been slowed weakness of the African currency and necessity [...]
Czech Republic: get insured by mobile phone
10 September 2008Already two Czech insurance companies - Generali and Česká podnikatelská pojišťovna (ČPP) offer their clients to buy tourist insurance by means of mobile phone.
For signing the contract only the surname, name, the address and term of insurance is required. It is necessary to send SMS with specified information. Cost of the insurance will be included [...]
Foreign insurers face obstacles in China
4 September 2008About 45 foreign insurance companies, which have united with the Chinese partners for activity in territory of the country, have collided with the rigid restrictions, established by the state on structure of joint ventures, opportunities of branches’ accommodation and the list of services, offered to clients.
The share of joint ventures makes 6 percents in the [...]
Japanese insurer Dai-ichi Mutual Life Insurance will redeem 30 % of Tower Australia Group’s shares
25 August 2008Second insurance company Dai-ichi Mutual Life Insurance - the largest in Japan company - has agreed to get 30 % of Tower Australia Group’s shares and to enter on the Australian market of services of insurance.
The price of the transaction will presumably make 376 million Australian dollars (341 million US dollar).
Dai-ichi Mutual Life Insurance has [...]
