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CBC Approves Cathay Life to Underwrite Policies in Greenbacks
2008-05-12 01:47:00
Taipei, May 12, 2008 (CENS)--The Taiwan-based Central Bank of China (CBC) recently approved Cathay Life Insurance Co. to underwrite conventional insurance policies in greenbacks, the first instance of such practice in Taiwan. Cathay Life said it was first approved by the Cabinet-level Financial Supervisory Commission in March before being approved by CBC. The insurer promises to kick off sales of
Read more: Policies

Prime Life Insurance to commence service from June
2008-05-12 01:31:00
Prime Life Insurance Company Limited has obtained operating license from Beema Samiti, the regulator of the insurance sector in Nepal, to conduct life insurance business in Nepal.The Company is promoted by Nepal’s leading and highly prominent business groups having widely diversified business interests and expertise. Laxmi Bank Limited, a leading commercial bank in Nepal, is one of the promoters


Trichy tops in Rural Postal Life Insurance
2008-05-09 04:04:00
The central region of Tamil Nadu postal circle headquartered at Trichy bagged the numero uno position in the country by selling Rs 1,017 crore worth of Rural Postal LifeInsurance (RPLI) in 2007-08, surpassing the target of Rs 690 crore by 47 per cent. The Vijayawada region followed by garnering a business of worth Rs 650 crore.Addressing the media here, SP Rajalingam, post master general, central


Bill targets insurance predators
2008-05-09 03:50:00
OKLAHOMA CITY -- The Oklahoma Senate has given final approval to a bill aimed at protecting citizens from predatory investors who profit from lifeinsurance policies. The bill, by Sen. Sean Burrage, was approved on Thursday and now goes to Gov. Brad Henry. Burrage said there is a growing national trend where unsavory investors provide a financial incentive for a senior citizen to purchase a lifeins
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Consumer Smarts: Life insurance can buy peace of mind
2008-05-07 00:24:00
Buying life insurance is about as thrilling as getting a root canal. Who wants to dwell on what might happen should you die too soon? File this task in the dreaded-but-necessary category of things you need to do in life, but don't ignore it, especially if family members rely on you for financial support. Life insurance can provide you with incredible peace of mind knowing your debts, expenses and
Read more: Consumer , Smarts

Life biz may turn slack
2008-05-07 00:15:00
And there are indications the red-hot business may just cool down a tad further this year. "We believe the life insurance industry is potentially headed for a slowdown," A recent Deutsche Bank report said, adding, "Weaker equity markets are primarily responsible for the slowdown, but the sheer extent has taken us by surprise." A look at the year-end figures of life insurance business tracked by th
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Adviser to discuss benefits of life-insurance policies
2008-05-05 03:39:00
Just how good of an investment is life insurance ? Bob Arms of Marotta Wealth Management Inc. in Charlottesville will discuss the differences and benefits of permanent and term lifeinsurance from 7 to 8:30 p.m. Wednesday at the Tuckahoe Library on Starling Drive in western Henrico County. The talk is presented by the National Association of Personal Financial Advisors Consumer Education Foundation,


Instant Overview of the Ukrainian Non-Life Insurance Market for 2008
2008-05-05 03:30:00
DUBLIN,Ireland-(BUSINESS WIRE)-Research and Market s has announced the addition of "Snapshots Ukraine Non-Life Insurance 2008" to their offering. Snapdata's Snapshots Ukraine Non-Life Insurance 2008 provides 2007 year-end market size data, with 2008 estimates, 4 years of historical data and five-year forecasts. The Snapshots report gives an instant overview of the Ukrainian non-life insurance marke
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Indian prostitutes receive life insurance
2008-05-03 00:52:00
Around 250 sex workers in India's eastern city of Kolkata have, for the first time received life insurance cover from a State-owned corporation. They believe this to be a step forward in their long standing crusade aimed at legalising their profession to help bring them into the mainstream and fight poverty and discrimination. "The policy from the Life Insurance Corporation of India may not change


SBI may partner Insurance Australia Group for non-life insurance JV
2008-05-02 01:21:00
MUMBAI: State Bank of India (SBI) will announce its non-life insurance joint venture (JV) in June. The bank has shortlisted its potential partner, and is now finalising terms of the JV agreement. SBI was earlier in advanced talks with Insurance Australia Group (IAG) for its JV partnership. Sources said that the foreign partner would pay a premium for its 26% stake. However, the premium may not res
Read more: life insurance

ICICI Prudential garners 68% growth in new biz premium
2008-05-14 01:14:00
JAIPUR: ICICI Prudential Life Insurance firm has garnered retail new business premium of Rs 6,684 crore till March 31, registering a growth of 68 per cent over the last year, a top official said. The company had raised retail new business premium of Rs 6,684 crore for the fiscal ended March 31, company's Sr Vice President Poonam Bhardwaj told a reporters here today, adding that ICICI Prudential ha


Borrowers urged to get life insurance
2008-05-14 01:10:00
Mortgage borrowers have been encouraged by an expert to get life insurance to cover their repayments. Writing on financial advice website Fool.co.uk, Jane Baker has said that such cover can "often go hand-in-hand" with taking out a home loan, as it is important that borrowers ensure they are protected "if the worst happens".The expert went on to explain that reviewing life insurance when moving ho
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Bank-owned life insurance at record levels
2008-05-16 01:44:00
Bank-owned life insurance hit $120.4 billion in assets in 2007, up 15.9% from the previous year, according to Michael White Associates LLC. BOLI is a form of life insurance policy bought by banks on its directors or officers. The bank is the beneficiary of the policy and all premiums are tax-free, as is the capital appreciation in the contract, allowing the banks to fund employee benefits on a tax
Read more: levels

Insurance carriers gear up for VA product season
2008-05-16 01:27:00
As the weather heats up in May, so does the competition among insurance carriers that are releasing new features for their variable annuities. Offerings this season include enhanced riders as well as glitzy subaccount choices, or the investments within variable annuities, from Metropolitan LifeInsurance Co. of New York, Nationwide Financial Services Inc. of Columbus, Ohio, and Toronto-based Sun Li


Insurance carriers gear up for VA product season
2008-05-16 00:54:00
As the weather heats up in May, so does the competition among insurance carriers that are releasing new features for their variable annuities.Offerings this season include enhanced riders as well as glitzy subaccount choices, or the investments within variable annuities, from Metropolitan LifeInsurance Co. of New York, Nationwide Financial Services Inc. of Columbus, Ohio, and Toronto-based Sun Lif


Citi offers $250m to hedge fund investors
2008-05-24 03:55:00
Citigroup is coming under pressure to bail out investors in one of its troubled hedge funds, in another embarrassment for a company already among the biggest losers from the credit crisis.The company has begun quietly asking private clients to accept a $250m compensation package, in return for dropping legal claims against the company. Banks which have sunk an estimated $1.6bn into the fund are al


The 5 Basic Forms Of Life Insurance
2008-05-26 02:13:00
If you're like I used to be, you can get confused with all the different life insurance policies. Trying to understand what is what can be difficult at times. Here's an easy to understand look at the 5 different types of life insurance and what they are.Annual Renewable Term PolicyWithout a doubt, this is the most typical form of life insurance sold. With its level death benefit it is generally us
Read more: Basic , Forms

Aviva USA granted patent for fixed indexed life insurance
2008-05-29 05:57:00
Aviva USA has been granted US patent for 'maximization of a hedged investment budget for an index-linked insurance product' by the US Patent and Trademark Office.The patent involves Aviva's risk management processes related to the minimum guarantees on its indexed universal life insurance products.Thomas Godlasky, CEO of Aviva North America, said: "The granting of this patent underscores Aviva's c


Options if health insurance is lost
2008-06-02 03:43:00
Losing your paycheck isn't the only problem when you're laid off. You probably need to decide what to do about health insurance if your employer has been providing your coverage. The temptation might be to go without it to save money, hoping nothing befalls you before you find a new job with insurance. That would be a mistake. Even the young and healthy can suffer broken bones playing sports or th
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Legislators oppose health insurance fee hike
2008-06-02 03:31:00
Lawmakers opposed an item in a draft bill that could force Vietnamese to pay higher mandatory health insurance fees at the National Assembly’s most recent two-day debate. Most legislators said the proposed increase on compulsory health insurance fees would prevent residents from obtaining proper health care. In Vietnam, workers are put under the compulsory health insurance program, which require
Read more: Legislators

Family has trouble finding life insurance policy
2008-06-05 06:08:00
The death of a relative is a traumatic event for any family. Throw in not being able to collect on that loved one's life insurance policy, and it becomes a financially frustrating experience too. That's exactly the problem a Rogers County family was facing. Since, Brenda Hagebush's mother died in February, she has spent of much of her time on the phone trying to collect on her mother's policy. It'
Read more: Family , life insurance

Banks to reap profit of cover
2008-06-05 05:51:00
This year, banks will end up making profit s of over 1,500 crore through the mundane job of selling life insurance. With commissions going over 35% of the first-year premium, perhaps no other business generates as high a margin as selling life insurance. Banks have come a long way since 2002 when they were first allowed to sell insurance products. Over the years, stakes have got very big in insuran


Take a SIP of Reliance life plan
2008-06-09 02:01:00
RELIANCE CAPITAL ASSET Management Ltd, the investment manager of Reliance Mutual Fund, will offer life insurance cover to its investors. Investors opting for systematic investment plan (SIP) in any of the fund’s 11 equity-linked schemes will be offered a Life Insurance cover of up to Rs 10 lakh. Upon the premature death of an investor opting for an SIP between three and 15 years, Reliance Mutual


IDBI Fortis Life Insurance to use Mastek's Elixir System
2008-06-09 01:28:00
Mastek Ltd, a leading IT solutions player with global operations in providing new technology and IP-led enterprise solutions to insurance, government and financial service organizations worldwide, and IDBI Fortis Life Insurance Co Ltd, a joint venture between three leading financial conglomerates - IDBI, Federal Bank and Fortis, each of which enjoys a significant status in their respective busines
Read more: Elixir , System

Insurance - Homeowners begin to opt out for life insurance as the credit crunch hits
2008-06-11 00:45:00
According to broker, My Mortgage Direct, borrowers are trying to hold onto their cash by abandoning their life insurance cover. Concerns arise as only 20% of new borrowers are taking out a life insurance policy to protect their mortgage while others sacrifice the insurance cover as a means to save more. As the credit crunch continues, people will need to reduce their outgoings cutting back on luxu
Read more: Homeowners , begin

Cathay Life Insurance to Raise NT$15 B. in 2008
2008-06-11 00:31:00
Taipei, June 10, 2008 (CENS)--Cathay Life Insurance Co., Taiwan`s largest life insurer, said that it will issue NT$2 billion (US$66.22 at US$1:NT$30.2) in new shares at NT$75 (US$2.48) per share this year, enabling the firm to raise NT$15 billion (US$496.68 million) in new capital. The capital-increase project will be the largest of ever launched by Cathay Life in its 46-year history. The Cathay L


Survey: Health insurance, fuel costs among top small biz burdens
2008-07-01 05:22:00
The rising cost of health insurance , fuel and energy and inflation are the top worries among small business owners, according to a survey done every four years by the National Federation of Independent Business and Wells Fargo.The new Small Business Problems and Priorities survey shows 42.3 percent of American small business owners rank the cost of natural gas, propane, gasoline, diesel and fuel o
Read more: Health

India could repeat the telecom success in insurance: Kidwai
2008-06-24 01:15:00
Bangalore (PTI): India had the potential of repeating the success witnessed in the telecom sector in the insurance sector as well, Naina Lal Kidwai, Group General Manager and Country Head, India, HSBC, said on Monday. India had among the least insurance penetration in the world, especially in the rural sector, which indicated the vast potential that the country held in this field,she said on the s


Hasa supports health insurance plans
2008-07-18 03:45:00
The Hospital Association of SA on Thursday welcomed government's initiative to establish a National Health Insurance (NHI) system to provide health care cover for all South Africans. This proposal was put to Cabinet on Wednesday by Health Minister Manto Tshabalala-Msimang. "The private hospital sector fully supports the concept of a National Health Insurance," said HASA board member Biren Valodia
Read more: insurance , plans

Health insurance scheme launched
2008-07-16 05:28:00
Dow University of Health Sciences (DUHS) launched the Health Insurance Scheme from July 15, 2008 for its faculty members and employees in agreement with the New Jubilee Insurance (NJI).Addressing to the ceremony, Professor, Masood Hameed Khan, Vice Chancellor, DUHS, said that the University employees including their spouses and children are covered for treatment if they get hospitalised.The employ
Read more: insurance

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