June saw an E. coli outbreak in Europe and a fresh round of bird flu cases in Egypt, as well as the release of insightful research on both medical error and dengue fever. A key theme across health issues remains weighing the long-term benefits of preventative care (or systemic reform) against up-front costs. That the United States showed the highest error rate among seven developed nations does…

As the economies of Brazil, Russia, India and China continue to grow, increasing numbers of international insurance and reinsurance companies are seeking to enter into these burgeoning regional markets. As some of the most recent international insurers to tap new country markets have found out, not only must they balance short and long-term strategies, but also provide appropriate and appealing products…

RFIB Group, the international Lloyd's insurance and reinsurance broker, has been approved for an intermediary license by the Saudi Arabian Monetary Agency (SAMA) to commence its insurance and reinsurance operations in the Kingdom of Saudi Arabia. RFIB had been active in the Saudi Arabia insurance market for nearly three decades, but renewed regulatory efforts initiated by SAMA last year have required…

Insurance Australia Group (IAG), New Zealand's largest general insurer with over one million customers, is focusing on a renewed expansion effort throughout Australia despite the recent losses associated with the devastating Christchurch earthquake and consequential aftershocks.
Last week in a press release, IAG managing director and CEO, Mike Wilkins, announced potential cost contingency…

A new report published today by Standard & Poor's (S&P), the foremost worldwide insurance rating and information agency, affirms the life insurance industry outlook in the Asia- Pacific region as generally stable, although it warns short-term investment risks may arise. S&P now assert that the pronounced economic development in the region combined with macro regulatory improvements regarding solvency…

Earlier this month, The International Finance Corporation (IFC), an integral member of the World Bank Group, announced a partnership with Archimedes Global to invest US$3 million in equity in health insurance ventures in Georgia and Kazakhstan, aiming to eventually increase access to sufficient healthcare services throughout other emerging markets in Eastern Europe and Central Asia. Georgia inherited…

China's National Social Security Fund has acquired an 11 percent stake in the People's Insurance Co of China (PICC Group) for RMB10 billion (US$1.55 billion) to become the sole investor ahead of the insurer's planned dual listing in Shanghai and Hong Kong. In a statement issued on Tuesday by PICC Chairman Wu Yan, the nation's second largest insurer heralded the involvement of the National Social Security…

In a move sure to reignite debate over upcoming US health system changes, The American Medical Association (AMA) on Monday publically reaffirmed its support for the individual mandate, the most contentious provision of the Obama Administration's Healthcare Reform Law. Under the Affordable Care Act (ACA) nearly…

Over the weekend, Qatar Telecom (Qtel) signed a major insurance contract with SEIB Insurance Company for Directors and Officers Liability Insurance coverage. The deal will cover an estimated US$600 million in net liabilities and represents one of the largest insurance contracts ever agreed upon for a singular entity. Speaking at the signing ceremony, Sheikh Saud Bin Nasser Al Thani, Chief Executive…

Insurance adjusters have begun the difficult task of calculating damage estimates in the aftermath of one of Canada's worst riots in decades. On Wednesday, fires, looting, rampant destruction and hundreds of arrests and injuries played out on the streets of downtown Vancouver, British Columbia as chaos erupted in the moments after the local team, the Canucks, lost the Stanley Cup final, ice hockey's…