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May
04

Q1 Catastrophes Hit Global Reinsurance Business

Several multinational property and casualty insurance companies have had their first-quarter earnings significantly impacted by the catastrophic losses due to earthquakes in Japan and New Zealand and the severe floods in Australia.

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Apr
28

Insurance Groups Lobby Brazilian Government for Reinsurance Rules Change

A coalition of 18 international insurance associations from Europe, Asia and the Americas have drafted a letter to the Brazilian government, petitioning them to reconsider two recently enacted reinsurance regulations that could threaten the market and severely reduce the availability of insurance in Brazil, including coverage for the upcoming 2016 Olympics and 2014 FIFA World Cup being held in the country.

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Apr
19

India to Become a Leading Insurance Market by 2020

The Indian insurance industry will continue to outpace the country's economic growth and is projected to reach US$ 350 to 400 billion in premium income by 2020. These figures will put India amongst the top three life insurance and top fifteen non-life markets in the world within the next nine years, according to a new report. At present, the insurance sector in India comprises of 23 different life…

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Apr
12

IPOs Heating Up Indian Insurance Industry

The Insurance Regulatory and Development Authority of India (IRDA) announced that will soon allow private insurance companies to put forth their initial public offerings (IPOs), and raise funds through the stock market to further fund their individual expansion plans. Speaking at the 14th Annual Conference on Insurance, 'India Insurance: Turning 10, Going on 20', IRDA Chairman Mr J. Hari Narayan stated…

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Apr
08

Allianz Business in Sri Lanka Flourishes

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…

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Apr
07

ACE Group Completes Acquisition of New York Life's Hong Kong and Korean Holdings

ACE Limited, the Swiss insurer operating in over 50 countries, has successfully completed the acquisition of all shares in both New York Life's Hong Kong and South Korean wholly-owned life insurance subsidiaries for a combined US$425 million in cash. The purchase agreement between the two conglomerates…

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Apr
06

Kuwait National Healthcare System Transition Underway

Kuwait's national healthcare system is set to undergo substantial reform and transformation in the next 3 to 4 years under the new Kuwait Health Assurance Company (KHAC), affecting both nationals and expatriates who look for health coverage options in the country. Kuwait is looking to evolve its health services policy from a welfare state into a 'healthcare business.' KHAC was established in 2010…

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Apr
04

Australian Health Insurance Premium Increase Comes Into Effect

Starting April 1st 2011, private health insurance premiums in Australia are set for an average cost increase of 5.56 percent across the board. The average premium for families is due to rise AU$2.88 per week and Australians are projected to cumulatively spend an extra AU$821 million per year for their private health insurance options. Individuals will pay around an additional AU$75 annually and combined…

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Apr
01

Cigna Moves Into Singapore, Adds Individual International Coverage

Cigna Inc, the leading international group health insurer for expatriates and other individuals traveling abroad, was today granted a license to operate in the Singapore health insurance market. The move reaffirms the company's commitment to developing its international business

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Mar
31

BNH Post Good Results, Looks to Gulf Expansion

Bahrain National Holding (BNH), the parent company of both Bahrain National Insurance and Bahrain National Life Assurance, held its annual shareholder meeting at BNH Tower this past Tuesday, March 29th 2011. Despite the general political tension occurring in the region, BNH's progress has remained undeterred and the firm plans on continuing the expansion of its operations throughout the Gulf. BNH…

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