The year 2012 may not have been the most flourishing of years for some health insurance companies around the globe, but data for the first quarter of 2013 looks promising for many of the world's largest, most well-established medical insurance providers. Among those releasing encouraging figures, Cigna, AXA, Munich Health…
In a move that has caught agents and brokers off guard, Nordic Healthcare, a provider of international health insurance, has announced that it will cease sales of new individual policies in all but its core markets. This means that, with immediate effect, Nordic will no longer be issuing new IPMI policies anywhere in the world except Europe, Singapore, Hong Kong, Thailand and Vietnam. The announcement…
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…
Nippon Life Insurance Company, Japan's largest life insurer by revenue, has announced plans to expand overseas and invest €500 million (US$725 million) in a unit of Allianz SE, with the transaction expected to close later in the week. This deal marks the Japanese company's first investment in a European peer, and it is also the first time that the German insurance giant has issued contingent capital…
Allianz Lanka Ltd., a wholly-owned Sri Lankan subsidiary of financial services conglomerate Allianz Group of Germany, has posted good results for its 2010 operations. The new annual report details the company's substantial growth in both the life and general insurance trade on the island nation despite being the only Sri Lankan insurer currently without a captive insurance business. The Sri Lankan…
Allianz Group's dedicated corporate insurance arm, Allianz Global Corporate & Specialty (AGCS), is set to open up a new branch office in Madrid, Spain. Allianz Global Corporate & Security will be taking over the local portfolio of large-size corporate insurance customers from the local Allianz unit, Allianz Compañía de Seguros y Reaseguros, SA (Allianz Seguros). The new AGCS branch will work…
India-based joint-venture Bajaj Allianz General Insurance Company has launched a new policy dubbed the Star Package Policy, which provides modular coverage of up to eight separate risks, ranging from health insurance coverage to home contents insurance. Star Package provides eight coverage options which are a mix of health insurance, life insurance and general insurance risks. The policy options…
Allianz Group is set to move regional CEOs around the world, reorganizing the upper management due to the departure of Massimo Michaud, the previous Chief Executive Officer of Allianz Italia S.p.A. The vacancy at the top of Allianz Italia will be filled by George Sartorel, who is currently the Chief Executive Officer of Allianz Turkey. Sartorel will be succeeded in Turkey by Mr. Alexander Ankel,…
According to an investors report on their website, Allianz Group is planning on their global insurance business lines making a larger contribution to earnings in the next six to twelve months, up from the 15% they contributed towards group revenue in 2009. Included in Allianz's list of global business lines are health insurance, life insurance, industrial insurance run under the name of Allianz…
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