The Japan Post Insurance Company and AXA SA are identified as the world's leading insurers in the latest report issued by renowned credit rating agency A.M. Best. The Japanese and French insurers emerged as the biggest insurance companies in a list registering the top 25 worldwide insurers measured by asset values and net premiums written. The Tokyo-based Japan Post Insurance Company was reported…

The major United States insurer American International Group (AIG) has informed US regulators - the Securities and Exchange Commission - that the company has received offers for its Taiwan based insurance unit - the Nan Shan Life Insurance Company as part of its strategic restructuring. The prospective buyers of Nan Shan have approached AIG by providing the insurer with unsolicited letters of interest…

The occurrence of natural catastrophes in 2010 made last year one of the worst for insurers in terms of compensation payments since 1980. This position is outlined in a report by German reinsurance experts Munich Re. The worldwide natural events included the effects of earthquakes, heat waves and floods contributing towards US$37 billion (€28 billion) of insured losses being recorded by insurers during…

The economic recession in the United States is taking its toll on the healthcare of an increasing number of American citizens according to a report by the Kaiser Foundation released in December 2010. The study found that the number of nonelderly Americans - people under 65 years of age - without health insurance in the USA rose to 50 million in 2009. This reflected an increase of 4.3 million people…

In December, Bupa International joined the ranks of international private medical insurers that offer insurance policies with full medical underwriting (FMU) options that cover individuals for pre-existing conditions. Until recently, it has been very difficult for expatriates to obtain coverage of pre-existing conditions on individual insurance policies, as few insurers would cover them. Many…

A number of Mergers and Acquisitions (M&As) between insurance companies have been implemented during 2010 in a bid to strengthen business activities in both mature and emerging markets. These developments have taken place as insurers strive to capture an increase in profitable markets and penetrate new markets to capitalize on shifting global demands. The M&As implemented are planned to facilitate…

Following the British's government's announcement that it will be embarking on major reforms and an overhaul of its long established National Health Services (NHS), the country's independent body responsible for ensuring fair competition is maintained…

In recent years India has become one of the fastest growing countries in the world. At present, there is a high demand for health insurance in India; this is driven primarily by the growing percentage of middle class citizens in the country, and the types of illnesses or diseases associated with their lifestyle. As India sees the wide scale emergence of illnesses predominantly associated…

The Philippines Department of Health (DoH) and the EU have reached an agreement over the Philippine Health Sector Policy Support Program (HSPSP), with the EU having contributed a further € 36 million (US$ 47.8 million:PhP 2.12 billion) towards the second phase of the program on 17th December 2010. The focus of the second phase of the Health Sector Policy Support Program (HSPSP) is to try and ensure…

The global microinsurance market is estimated to be worth US$40 billion to the insurance industry according to a report by Zurich based Swiss Reinsurance. Swiss Re has highlighted the huge potential in supplying the massive populations in countries in the emerging markets of Asia, Latin America and Africa, with low cost insurance products. The report identifies the scope to expand the range of products,…