Hong Kong's Office for the Commissioner of Insurance (OCI) has released provisional statistics of the city's insurance sector for the first quarter of 2012. Hong Kong, recently named the world's most competitive economy in the IMD World Competitiveness Ranking report, has a vibrant financial services…
A recent study by the Qatar Financial Centre Authority, entitled the GCC (Gulf Cooperative Council) Insurance Barometer has revealed that prospects for the growth of the insurance industry in GCC countries are extremely bright. The GCC includes the nations of Bahrain, Saudi Arabia, Qatar, Oman, the UAE, and Kuwait. The study conducted by the Qatari…
As the European debt crisis continues to take its toll on affected countries, numerous companies are revamping their businesses strategies to keep their heads above the waves. Britain's second-biggest insurer, Aviva, has increasingly felt the impact of Europe's unstable economy and recently came under fire when its large exposure to the eurozone crisis contributed to a drop of 38 percent in share…
Established in 1996, Jordan based Arab Orient Insurance Company is currently one of the leading providers of general insurance in the Middle East.
Operating as a subsidiary of Gulf Insurance Company, AOIC prides themselves on reliability, quality and superior customer service and believes these characteristics have helped them to dominate the competitive market whilst showing consistent growth…
Swiss global insurance giant, Zurich, is on a profitable track this year, with positive results coming in from the First Quarter reports.
The group reported a total business operating profit of US$ 1.4 billion for the First Quarter of 2012 with an operating profit increase in the General Insurance sector of US$ 567 million to US$ 856 million.
It appears that Zurich may be overcoming difficulties…
London based insurance company Aviva is now the sixth largest insurance group worldwide and the largest provider of life and general insurance in the United Kingdom. Despite having a strong start to the year so far, Aviva will be undertaking a much needed strategic review of its businesses to aid the company in its recovery after the departure of Chief Executive Officer Andrew Moss. Moss, having…
ING Groep may see a flurry of activity in the near future as it has received multiple bids for their asset management operations in Asia, as well as seeing multiple parties squaring up to bid on their Asian life insurance assets. ING must sell off their global insurance business in order to fulfill their agreement with the European Commission and repay the US$7 billion bailout it received in 2008.…
The Allianz Group has a rich history dating back to 1890 and prides itself on being able to offer solutions in insurance, banking and asset management areas. Insurance wise, Allianz thrives in Europe and has especially excelled itself in the German market. 2012 has started off in a positive direction for the company and CEO Michael Diekmann sees this trend continuing for the rest of the year. On May…
India-based HDFC ERGO, the joint-venture between Indian finance group HDFC and Germany's insurance company ERGO International, have recently established their own in-house claims servicing department for health care and insurance claims and questions. The HDFC ERGO General Insurance Company, which is the 4th largest general insurance company in India, provides a number of lines of…
Both Qatar and Dubai are well placed to become regional insurance hubs, reports have revealed, following the creation of a Governmental partnership with Samsung Life Insurance in Dubai and the implementation of a national health insurance law in Qatar.
According to a Financial…
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