For those in the life insurance industry who thought they could sit on the sidelines and watch New York Attorney General Eliot Spitzer go after some big property/casualty heavyweights, think again. According to reports on Friday, MetLife and other group …
Munich Re has established a new service company, Munich Re India Services Ltd., Mumbai, aimed at strengthening and intensifying “long-standing business relations – some dating back to 1950 – with Indian insurance companies.” Speaking at the official launch of the …
Chicago-based brokerage giant Aon Corp. may sell a majority of its back-office unit to Singapore-based Scandent for $100 million, according to Reuters. Scandent, which owns software, consulting and back-office services units, has an outsourcing business in India. CEO Ramesh Vangal …
Aviva Plc., the U.K.’s largest insurer, announced that it plans to increase its offshoring capacity by moving some 950 jobs offshore “to service its existing Norwich Union businesses.” The group has already created some 3700 jobs in India. It expects …
This is the second in a series of articles on the Asia insurance marketplace. The next article in this series will focus on Japan and will appear in an October issue of Insurance Journal. An ancient Indian parable tells the …
Members of the National Association of Insurance Commissioners (NAIC) have elected a slate of three new officers in interim elections held during the 2004 NAIC Fall National Meeting. Pennsylvania Insurance Commissioner Diane Koken is the new NAIC president, Oregon Insurance …
The U.K.’s Aviva (ex-CGNU) has agreed to sell its Asian non-life business to Japan’s second largest general insurer (after Tokio Marine) Mitsui Sumitomo Insurance Co Ltd. (MSI), for £249 million ($443 million). The move is in line with the British …
Brookfield, Wis.-based Fiserv Inc. has acquired Results International Systems Inc., a provider of outsourced solutions for the property/casualty insurance industry. The acquisition will contribute about $7 million in annualized revenues. The purchase price was not disclosed. Leslie M. Muma, Fiserv …
Euro RSCG Worldwide, a leading integrated marketing communications agency, has released the results of an online survey of more than 13,000 respondents in six countries, which found that more people consistently fret about their finances than about the threat of …
Dublin-based Research and Markets (http://www.researchandmarkets.com) has issued a new report on “Global Insurance Outsourcing – The India Perspective: Overview, Trends, Insights and Competitor Profiles.” The report notes: “Insurance companies have traditionally been among the slowest adopters of outsourcing/off shoring. However …
