http://www.news-insurances.com News-Insurances.com is an independent online media providing the latest insurance news for the insurance industry and consumers Thu, 09 Sep 2010 08:02:01 +0000 en hourly 1 http://wordpress.org/?v=3.0.1 http://www.news-insurances.com/study-annuities-allianz-survey-shows-americans%e2%80%99-preferences/0167315012 http://www.news-insurances.com/study-annuities-allianz-survey-shows-americans%e2%80%99-preferences/0167315012#comments Wed, 08 Sep 2010 15:38:47 +0000 Sofia Ashmore http://www.news-insurances.com/?p=315012 More than half (nearly 54%) of Americans aged 44-75 expressed distaste for the word “annuity”, according to a recent survey from Allianz Life Insurance Company of North America (Allianz Life). An overwhelming 80 percent of the more than 3,200 surveyed preferred a product with four percent return and a guarantee against losing value over a [...]]]> http://www.news-insurances.com/study-annuities-allianz-survey-shows-americans%e2%80%99-preferences/0167315012/feed 0 http://www.news-insurances.com/pension-study-accuracy-of-data-management-is-greatest-challenge/0167312580 http://www.news-insurances.com/pension-study-accuracy-of-data-management-is-greatest-challenge/0167312580#comments Tue, 07 Sep 2010 14:48:43 +0000 Tom Scott http://www.news-insurances.com/?p=312580 Research to support a new industry report released today on pension data management has shown that 57% of UK pension schemes believe improving the accuracy of member data is the greatest challenge schemes face as time moves towards The Pension Regulators enforcement of the ‘Record Keeping’ guidelines in 2012. Clear Path Analysis, a research and [...]]]> http://www.news-insurances.com/pension-study-accuracy-of-data-management-is-greatest-challenge/0167312580/feed 0 http://www.news-insurances.com/aig-taiwan-end-of-unit-deal-for-hong-kong-buyer/0167309994 http://www.news-insurances.com/aig-taiwan-end-of-unit-deal-for-hong-kong-buyer/0167309994#comments Mon, 06 Sep 2010 12:17:19 +0000 Tom Scott http://www.news-insurances.com/?p=309994 US insurance giant American International Group has signaled it wants to end the sale of its Taiwan unit to a Hong Kong consortium after the deal failed to get the Taiwanese government’s approval. Taiwan’s Investment Commission late last month rejected the application for the acquisition of Nan Shan Life Insurance Co by Hong Kong-listed China [...]]]> http://www.news-insurances.com/aig-taiwan-end-of-unit-deal-for-hong-kong-buyer/0167309994/feed 0 http://www.news-insurances.com/china-insurers-new-investment-possibilities/0167309572 http://www.news-insurances.com/china-insurers-new-investment-possibilities/0167309572#comments Mon, 06 Sep 2010 08:50:50 +0000 Sofia Ashmore http://www.news-insurances.com/?p=309572 China will now allow insurers to broaden investments into private equity and real estate, a move that could unleash as much as $100 billion worth of fresh funding into unlisted firms and the real-estate sector. Chinese insurers are allowed to invest up to 5 percent of their assets in private equity and 10 percent in [...]]]> http://www.news-insurances.com/china-insurers-new-investment-possibilities/0167309572/feed 0 http://www.news-insurances.com/reinsurance-aon-benfield-research-results-interesting-for-companies/0167304282 http://www.news-insurances.com/reinsurance-aon-benfield-research-results-interesting-for-companies/0167304282#comments Fri, 03 Sep 2010 14:39:34 +0000 George Stobbart http://www.news-insurances.com/?p=304282 AON published its first edition of the Aon Benfield Research Newsletter which shares the successes of their global research organisations and highlights how academia can work hand in hand with businesses to improve risk awareness and deliver practical results for the reinsurance industry. Highlights include: - Top 5 mega-earthquake hotspots identified - New European windstorm [...]]]> http://www.news-insurances.com/reinsurance-aon-benfield-research-results-interesting-for-companies/0167304282/feed 0 http://www.news-insurances.com/aig-unit-bid-defended-by-hong-kong-group/0167298260 http://www.news-insurances.com/aig-unit-bid-defended-by-hong-kong-group/0167298260#comments Wed, 01 Sep 2010 10:08:48 +0000 Sofia Ashmore http://www.news-insurances.com/?p=298260 Hong Kong-based Primus Financial Holdings on Wednesday defended its bid to buy the Taiwan unit of ailing US insurance giant American International Group. The move for Nan Shan Life came a day after the application by Primus Financial Holdings and its partner China Strategic Holdings was rejected by Taiwan’s Investment Commission. Taiwan authorities said they [...]]]> http://www.news-insurances.com/aig-unit-bid-defended-by-hong-kong-group/0167298260/feed 0 http://www.news-insurances.com/market-participation-axa-cuts-stake-in-goldman-sachs/0167293842 http://www.news-insurances.com/market-participation-axa-cuts-stake-in-goldman-sachs/0167293842#comments Mon, 30 Aug 2010 13:48:37 +0000 Philippe http://www.news-insurances.com/?p=293842 French insurer Axa has cut its holdings in US investment bank Goldman Sachs, which last month announced an 82 percent profit slide, by roughly one half, according to documents filed with the US Securities and Exchange Commission. Axa, which had been Goldman’s largest shareholder, sold more than 14 Million shares between January and June, reducing [...]]]> http://www.news-insurances.com/market-participation-axa-cuts-stake-in-goldman-sachs/0167293842/feed 0 http://www.news-insurances.com/eu-opens-antitrust-probe-into-maritime-insurance/0167285814 http://www.news-insurances.com/eu-opens-antitrust-probe-into-maritime-insurance/0167285814#comments Thu, 26 Aug 2010 16:00:36 +0000 Sofia Ashmore http://www.news-insurances.com/?p=285814 European Union regulators opened an antitrust probe on Thursday into the maritime insurance sector, citing concerns that certain agreements may harm ship owners. The European Commission said it would investigate agreements between the Protection & Indemnity Clubs, mutual non-profit associations that provide insurance to ship owners, within the International Group of P&I Clubs (IG). IG [...]]]> http://www.news-insurances.com/eu-opens-antitrust-probe-into-maritime-insurance/0167285814/feed 0 http://www.news-insurances.com/wedding-insurance-specialist-ecclesiastical-responds-to-news-about-wedding-supplier-confetti-going-into-administration/0167268730 http://www.news-insurances.com/wedding-insurance-specialist-ecclesiastical-responds-to-news-about-wedding-supplier-confetti-going-into-administration/0167268730#comments Thu, 19 Aug 2010 16:08:32 +0000 Damian Dozol http://www.news-insurances.com/?p=268730 Following news that wedding supplier Confetti has gone into administration, Ecclesiastical, one of the UK’s leading providers of wedding insurance, has advised prospective brides and grooms to contact their wedding insurers if they have any questions or concerns relating to this news. According to Ecclesiastical, supplier failure has been the largest source of claims on [...]]]> http://www.news-insurances.com/wedding-insurance-specialist-ecclesiastical-responds-to-news-about-wedding-supplier-confetti-going-into-administration/0167268730/feed 0 http://www.news-insurances.com/insurance-market-legal-general-insurer-shares-rise-on-bid-talk-traders/0167266502 http://www.news-insurances.com/insurance-market-legal-general-insurer-shares-rise-on-bid-talk-traders/0167266502#comments Wed, 18 Aug 2010 16:28:07 +0000 Damian Dozol http://www.news-insurances.com/?p=266502 Shares in insurer Legal & General rose 3 percent on Wednesday, hitting a near two-year high and outperforming UK peers, with traders citing market talk of bid interest from Zurich Financial. Legal & General declined to comment. The UK insurance sector has been buoyed recently by merger and acquisition speculation, after Aviva earlier this week [...]]]> http://www.news-insurances.com/insurance-market-legal-general-insurer-shares-rise-on-bid-talk-traders/0167266502/feed 0 http://www.news-insurances.com/bp-to-fund-mental-health-in-oil-hit-gulf-states/0167263222 http://www.news-insurances.com/bp-to-fund-mental-health-in-oil-hit-gulf-states/0167263222#comments Tue, 17 Aug 2010 10:10:07 +0000 Damian Dozol http://www.news-insurances.com/?p=263222 BP announced Monday 52 million dollars in funding for health groups dealing with stress and depression in four southern US states hit by the Gulf of Mexico oil spill disaster. “We appreciate that there is a great deal of stress and anxiety across the region,” said Lamar McKay, president of BP America. “We are providing [...]]]> http://www.news-insurances.com/bp-to-fund-mental-health-in-oil-hit-gulf-states/0167263222/feed 1 http://www.news-insurances.com/aon-pension-pots-continue-to-shrink/0167260892 http://www.news-insurances.com/aon-pension-pots-continue-to-shrink/0167260892#comments Mon, 16 Aug 2010 13:21:06 +0000 Damian Dozol http://www.news-insurances.com/?p=260892 Pension pots have shrunk further in the past four weeks, with a 30 year old’s and 60 year old’s annual pension income decreasing by £518 and £358 respectively and 65 year olds left on a mere £7,666 a year, almost half the adequate standard of living (£14,400*), according to data from Aon Consulting, the leading [...]]]> http://www.news-insurances.com/aon-pension-pots-continue-to-shrink/0167260892/feed 0 http://www.news-insurances.com/aig-approaches-big-investors-to-take-stakes-in-aia/0167253394 http://www.news-insurances.com/aig-approaches-big-investors-to-take-stakes-in-aia/0167253394#comments Thu, 12 Aug 2010 15:14:11 +0000 Damian Dozol http://www.news-insurances.com/?p=253394 AIG has approached some of the world’s biggest investors over the sale of a significant stake in AIA, the US insurer’s Asian unit, drawing a strong interest from China, a report said Thursday. The response has prompted AIG to consider offering up to 30 percent to institutional investors and wealthy tycoons, as opposed to offering [...]]]> http://www.news-insurances.com/aig-approaches-big-investors-to-take-stakes-in-aia/0167253394/feed 0 http://www.news-insurances.com/insurer-aig-sells-consumer-credit-affiliate/0167251342 http://www.news-insurances.com/insurer-aig-sells-consumer-credit-affiliate/0167251342#comments Wed, 11 Aug 2010 16:11:52 +0000 Damian Dozol http://www.news-insurances.com/?p=251342 Ailing US insurance giant AIG announced on Wednesday the sale of 80 percent of its stake in consumer credit provider American General Finance to Fortress Investment Group, a hedge fundmanager. No details were provided on the terms of the deal, which will leave AIG in control of the remaining 20 percent as it struggles to [...]]]> http://www.news-insurances.com/insurer-aig-sells-consumer-credit-affiliate/0167251342/feed 0 http://www.news-insurances.com/aegon-uk-appoints-gill-scott-as-hr-director/0167249064 http://www.news-insurances.com/aegon-uk-appoints-gill-scott-as-hr-director/0167249064#comments Tue, 10 Aug 2010 15:42:54 +0000 Damian Dozol http://www.news-insurances.com/?p=249064 Aegon UK today announces the appointment of Gill Scott as HR Director. Gill, previously Aegon UK’s Head of HR – Life and Pensions, has been a key member of the HR Leadership team at Aegon UK since 2005. A graduate of Edinburgh’s Napier University, Gill joined Scottish Equitable in 1991 and since then has held [...]]]> http://www.news-insurances.com/aegon-uk-appoints-gill-scott-as-hr-director/0167249064/feed 0 http://www.news-insurances.com/obama-says-health-reform-expended-medicare/0167246870 http://www.news-insurances.com/obama-says-health-reform-expended-medicare/0167246870#comments Mon, 09 Aug 2010 15:46:17 +0000 Damian Dozol http://www.news-insurances.com/?p=246870 US President Barack Obama showcased Friday his health care reform for the elderly, saying it had significantly extended the life of a health insurance program designed for them. “Reform has actually added at least a dozen years to the solvency of Medicare — the single longest extension in history — while helping to preserve Medicare [...]]]> http://www.news-insurances.com/obama-says-health-reform-expended-medicare/0167246870/feed 0 http://www.news-insurances.com/reinsurer-swiss-re-says-it-weathers-oil-spill-costs-with-big-profit/0167237422 http://www.news-insurances.com/reinsurer-swiss-re-says-it-weathers-oil-spill-costs-with-big-profit/0167237422#comments Thu, 05 Aug 2010 14:56:58 +0000 Damian Dozol http://www.news-insurances.com/?p=237422 Swiss Re, one of the world’s biggest reinsurers, reported on Thursday an 812-million-dollar second-quarter net profit despite the cost of disaster damage from the Gulf of Mexico oil spill. The result marked a shift out of a 342-million-dollar (259-million-euro) net loss during the same period last year and exceeded analysts’ expectations. “Swiss Re’s business performed [...]]]> http://www.news-insurances.com/reinsurer-swiss-re-says-it-weathers-oil-spill-costs-with-big-profit/0167237422/feed 0 http://www.news-insurances.com/insurer-axa-says-capital-loss-cuts-profits-29-0-percent/0167235294 http://www.news-insurances.com/insurer-axa-says-capital-loss-cuts-profits-29-0-percent/0167235294#comments Wed, 04 Aug 2010 15:19:52 +0000 Damian Dozol http://www.news-insurances.com/?p=235294 French insurance giant Axa reported on Wednesday a 29.0-percent fall in net profit for the first half, blaming a capital loss as expected from the sale of some activities in Britain. The net figure was 944 million euros (1.25 billion dollars) after a loss of 1.478 billion euros from the sale of British insurer Resolution [...]]]> http://www.news-insurances.com/insurer-axa-says-capital-loss-cuts-profits-29-0-percent/0167235294/feed 0 http://www.news-insurances.com/pakistan-hit-by-worst-floods-since-1929/0167233152 http://www.news-insurances.com/pakistan-hit-by-worst-floods-since-1929/0167233152#comments Tue, 03 Aug 2010 14:50:21 +0000 Damian Dozol http://www.news-insurances.com/?p=233152 Aon Benfield, the world’s premier reinsurance intermediary and capital advisor, today releases the latest edition of its Monthly Cat Recap report, which provides an analysis of worldwide catastrophic events in July. Published by the company’s Impact Forecasting team, who evaluate global perils for the re/insurance industry, the report highlights that the month witnessed some of [...]]]> http://www.news-insurances.com/pakistan-hit-by-worst-floods-since-1929/0167233152/feed 0 http://www.news-insurances.com/ny-ag-announces-probe-of-life-insurance-industry/0167225254 http://www.news-insurances.com/ny-ag-announces-probe-of-life-insurance-industry/0167225254#comments Fri, 30 Jul 2010 16:01:23 +0000 Damian Dozol http://www.news-insurances.com/?p=225254 State Attorney General Andrew Cuomo said Thursday that he had opened a fraud investigation into how life insurers pay out benefits after policyholders die. He said his office served subpoenas on Prudential Financial, Inc. and MetLife, Inc. as part of the probe, seeking information on life insurance policies. Cuomo, a candidate for governor, said his [...]]]> http://www.news-insurances.com/ny-ag-announces-probe-of-life-insurance-industry/0167225254/feed 0 http://www.news-insurances.com/appointment-jodie-hackman-to-join-allianz-legal-protection/0167223330 http://www.news-insurances.com/appointment-jodie-hackman-to-join-allianz-legal-protection/0167223330#comments Thu, 29 Jul 2010 15:00:07 +0000 Damian Dozol http://www.news-insurances.com/?p=223330 Allianz Legal Protection has boosted its before the event (BTE) claims operation with the appointment of Jodie Hackman. Jodie joins Allianz after four years as a senior claims negotiator with accident management company, Helphire plc. In her new role, Jodie will be responsible for handling incoming BTE motor, family and commercial claims at the Company’s [...]]]> http://www.news-insurances.com/appointment-jodie-hackman-to-join-allianz-legal-protection/0167223330/feed 0 http://www.news-insurances.com/iag-announces-expected-fy10-result-dividend-and-changes-to-executive-team/0167221176 http://www.news-insurances.com/iag-announces-expected-fy10-result-dividend-and-changes-to-executive-team/0167221176#comments Wed, 28 Jul 2010 14:46:06 +0000 Damian Dozol http://www.news-insurances.com/?p=221176 Insurance Australia Group Limited (IAG) today announced it expected to report an insurance margin for the year ended 30 June 2010 of 7.0%, in line with revised guidance, and to determine a fully franked, final dividend of 4.5 cents per share. In addition, the Group has announced changes to its executive team, centred on its [...]]]> http://www.news-insurances.com/iag-announces-expected-fy10-result-dividend-and-changes-to-executive-team/0167221176/feed 0 http://www.news-insurances.com/weather-warning-%e2%80%93-july-27-heavy-rain-expected-in-east-of-england-and-east-midland/0167219196 http://www.news-insurances.com/weather-warning-%e2%80%93-july-27-heavy-rain-expected-in-east-of-england-and-east-midland/0167219196#comments Tue, 27 Jul 2010 15:21:56 +0000 Damian Dozol http://www.news-insurances.com/?p=219196 The Met Office has issued on Tuesday a weather warning from 15.30 to 20.00 for East of England and East Midland. Heavy rain is expected in local areas like Norfolk, Peterborough and Lincolnshire. “Heavy and perhaps thundery showers will continue to move east across parts of East Anglia and south Lincolnshire over the next few [...]]]> http://www.news-insurances.com/weather-warning-%e2%80%93-july-27-heavy-rain-expected-in-east-of-england-and-east-midland/0167219196/feed 0 http://www.news-insurances.com/xl-insurance-announced-quarterly-dividend-of-0-10-per-ordinary-share/0167216958 http://www.news-insurances.com/xl-insurance-announced-quarterly-dividend-of-0-10-per-ordinary-share/0167216958#comments Mon, 26 Jul 2010 14:02:45 +0000 Damian Dozol http://www.news-insurances.com/?p=216958 XL Group PLC (NYSE: XL) announced today that its board of directors has declared a quarterly dividend of $0.10 per ordinary share payable on the company’s ordinary shares. The dividend will be payable on September 30, 2010 to ordinary shareholders of record as of September 15, 2010. The payment of the dividend is contingent on [...]]]> http://www.news-insurances.com/xl-insurance-announced-quarterly-dividend-of-0-10-per-ordinary-share/0167216958/feed 0 http://www.news-insurances.com/home-and-vehicle-insurance-singapore-flood-risk-alarms-insurers/0167212498 http://www.news-insurances.com/home-and-vehicle-insurance-singapore-flood-risk-alarms-insurers/0167212498#comments Fri, 23 Jul 2010 07:19:03 +0000 Sofia Ashmore http://www.news-insurances.com/?p=212498 Insurers may hike premiums for flood-prone properties in Singapore after a deluge caused millions of dollars in damage and led to luxury stores being barricaded with sandbags, a report said Friday. “Three floods within a one-month period is unprecedented in Singapore,” General Insurance Association president Derek Teo told the Straits Times as businesses and homeowners [...]]]> http://www.news-insurances.com/home-and-vehicle-insurance-singapore-flood-risk-alarms-insurers/0167212498/feed 0 http://www.news-insurances.com/impactondemand-a-new-real-time-catastrophe-risk-management-tool-by-aon-benfield/0167208794 http://www.news-insurances.com/impactondemand-a-new-real-time-catastrophe-risk-management-tool-by-aon-benfield/0167208794#comments Wed, 21 Jul 2010 08:11:01 +0000 Tom Scott http://www.news-insurances.com/?p=208794 Aon Benfield today announces the launch of ImpactOnDemandSM.  ImpactOnDemand is a new generation of its flagship risk management tools which continue to allow insurers to visualize, quantify and connect their exposures to catastrophic events.  Insurers can upload their most current portfolios for viewing and analysis at any time. ImpactOnDemand combines the functionality of Aon Benfield’s [...]]]> http://www.news-insurances.com/impactondemand-a-new-real-time-catastrophe-risk-management-tool-by-aon-benfield/0167208794/feed 0 http://www.news-insurances.com/aia-wants-to-split-from-us-parent-report/0167206644 http://www.news-insurances.com/aia-wants-to-split-from-us-parent-report/0167206644#comments Tue, 20 Jul 2010 07:13:14 +0000 George Stobbart http://www.news-insurances.com/?p=206644 American International Assurance (AIA), the Asian unit of US insurance giant AIG, is trawling for investors so it can split from its troubled parent as soon as possible, a report said Tuesday. Mark Tucker, the former head of British insurer Prudential who was named Monday as AIA’s new chief executive, has sought assurances that AIA [...]]]> http://www.news-insurances.com/aia-wants-to-split-from-us-parent-report/0167206644/feed 0 http://www.news-insurances.com/obamas-victory-wall-street-reform-to-stop-shadowy-deals/0167200248 http://www.news-insurances.com/obamas-victory-wall-street-reform-to-stop-shadowy-deals/0167200248#comments Fri, 16 Jul 2010 08:54:59 +0000 George Stobbart http://www.news-insurances.com/?p=200248 Two years after an economic crisis laid bare the shaky foundations of the US financial system, questions remain as to whether the latest measures to prevent another collapse will work. To some, the 2,300-page reform package passed by Congress Thursday is the most wide-ranging Wall Street reform since the 1930s. Others view it as a [...]]]> http://www.news-insurances.com/obamas-victory-wall-street-reform-to-stop-shadowy-deals/0167200248/feed 0 http://www.news-insurances.com/weather-warning-%e2%80%93-july-15-2010-heavy-rain-expected-in-northern-ireland/0167198382 http://www.news-insurances.com/weather-warning-%e2%80%93-july-15-2010-heavy-rain-expected-in-northern-ireland/0167198382#comments Thu, 15 Jul 2010 11:20:26 +0000 Damian Dozol http://www.news-insurances.com/?p=198382 The Met Office has issued on Thursday a weather warning in Northern Ireland from 14.00 to 21.00. Heavy rain is expected in locals areas like Antrim, Armagh, Derry, Down, Fermanagh and Tyrone. “Heavy thundery showers this afternoon are expected to give accumulations of 15mm within a 3 hour period, with isolated accumulations through the afternoon [...]]]> http://www.news-insurances.com/weather-warning-%e2%80%93-july-15-2010-heavy-rain-expected-in-northern-ireland/0167198382/feed 0 http://www.news-insurances.com/weather-warning-july-13-2010-heavy-rain-expected-in-wales/0167194552 http://www.news-insurances.com/weather-warning-july-13-2010-heavy-rain-expected-in-wales/0167194552#comments Tue, 13 Jul 2010 12:38:04 +0000 Damian Dozol http://www.news-insurances.com/?p=194552 The Met office has issued on Tuesday a weather warning in Wales. Heavy rain is expected today from 13.30 to 20.00 in local areas like Ceredigion, Conwy, Flintshire, Powys and Swansea. “Heavy rain will spread northwards across western and northern parts of Wales during the afternoon. This will give rainfall totals of 15mm in 3 [...]]]> http://www.news-insurances.com/weather-warning-july-13-2010-heavy-rain-expected-in-wales/0167194552/feed 0