There’s still a lot of resistance to efforts to privatise India’s insurance industry. The latest proposal, to raise the amount of capital foreign insurers can own in Indian companies from the current 26 percent to 49 percent, has roused the …
This is the first in a series of articles on the Asia insurance marketplace. Part two in this series will focus on India and will appear in a September issue of Insurance Journal. “Let China Sleep, for when she wakes, …
The new Congress-led government in New Delhi faces a tough test ahead as a key Communist Party ally has come out against its proposal to raise the cap on foreign investment in India’s telecommunications, aviation and insurance sectors. The Congress …
Even though Arkansas Insurance Commissioner Mike Pickens narrowly escaped a car bombing in Baghdad, he says many parts of Iraq are peaceful and he wouldn’t mind returning, the Associated Press reported. “But if I went, I sure wouldn’t stay for …
A.M. Best Co. announced that it has affirmed the financial strength rating of “A-” (Excellent) of Nigeria’s African Reinsurance Corporation and assigned a stable outlook. “The rating reflects Africa Re’s leading market position in Africa, enhanced capitalisation and strong operating …
AIG United Guaranty, whose affiliate companies provide mortgage guaranty insurance, announced plans to expand both its European and Asian operations as part of its “international growth program.” It has appointed a number of senior executives to head the expansions. In …
IT services company R2K, Inc. announced that its NY headquarters office, working with its wholly-owned subsidiary, InnovaTeam in Bangalore, India, will offer a turnkey business process outsourcing (BPO) solution for back-office insurance processing. “The new service leverages: 1) R2K’s years …
Senator Joe Lieberman (D-CT) this week argued that the threat of offshore outsourcing is not just about losing American manufacturing and low-end services jobs to overseas competitors, but about losing America’s ability to create new high-end services and research and …
Arkansas Insurance Commissioner Mike Pickens will spend the next two months in Iraq helping that country’s new leaders establish an insurance system, the Associated Press reported. Pickens, who has also helped officials in Egypt, China, Vietnam and India restructure their …
A recently released Swiss Re Sigma study has concluded that as the complexity of risk increases brokers face a greater demand for their services. The report entitled ‘Commercial insurance and reinsurance brokerage – love thy middleman’, examines developments in the …
