Catastrophe bonds remain unaffected by Hurricane Sandy

Catastrophe Bonds Insurance News

Catastrophe bonds investors shrug off impact of natural disaster Catastrophe bonds are unlikely to be swayed by the impact of Hurricane Sandy, as investors show little concern for the storm’s impact on the U.S. and the global insurance industry. Though Hurricane Sandy is being considered one of the largest storms to ever impact the U.S., causing approximately $20 billion in damage according to early estimates, it may not be able to cause a panic amongst investors. Catastrophe bonds have yet to show any indication of negative impact from the storm,…

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International insurance deal made by son of Asia’s richest man

International Insurance fund news

Richard Li, Hong Kong tycoon, has acquired three units of ING for $2.1 billion Younger son of the richest man in Asia, and businessman in his own right, Richard Li, is making international insurance news by purchasing three the coverage units of ING Hong Kong, Thailand, and Macau, in a cash acquisition of $2.14 billion in cash. The Dutch financial services firm has now advanced significantly toward paying off its bailout. ING has been taking dramatic steps in order to try to pay back its state bailout funds, and the…

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Health insurance giant sees massive spike in quarterly profits

Financial Insurance News

UnitedHealth has announced its Q3 results with a tremendous jump of 23 percent. The largest health insurance company in the United States, UnitedHealth Group Inc. has released a statement of its third quarter earnings, and has shown that the strength of its Medicaid and Medicare business growth has led to a boost of 23 percent in its profits. The report also indicated that the overall medical claims costs appeared to be primarily as predicted. The health insurance company, which is based in Minnetonka, Minnesota, has now increased its forecasts for…

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Insurance news from India shows the bill has a chance of passing

Finance Minister of India, P. Chidambaram - Insurance News Headlines

Chidambaram has expressed his confidence about the success of the measure. Finance Minister of India, P. Chidambaram, has made insurance news by promising further reforms for the country and has expressed his confidence that the FDI bills for the insurance and pension industries will be passed by Parliament, in which he will soon hold an open dialogue with the country’s opposition parties. He did point out that there is still some debate and controversy over the topic. But at the same time, the Finance Minister feels that it will be…

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Insurance news from India could mean caps on foreign insurers will be lifted

insurance industry report

This move could be made in the hopes that it will give the country’s economy a boost. Manmohan Singh, the Prime Minister of India, is making insurance news around the world, in his latest efforts to create the largest opening in the Indian economy has seen in ten years, as the cabinet considers proposals for lifting the foreign investment caps for insurers as well as in the pension industry. The country’s ministers will be considering a large new opportunity for overseas insurers. Should the measure pass, it would make tremendous…

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Spain may benefit from EU insurance plan

EU Insurance Plan

EU insurance plan could help Spain recover from financial troubles The European Union has been struggling to rein in on a dire financial crisis that has threatened the economic stability of several countries in the region. The governing body has turned to the insurance industry to aid in recovery and the mitigation of a future crisis and insurers has, thus far, proven to be a powerful ally in this endeavor. Several countries suffering from the effects of the financial crisis have benefited from the involvement of the insurance industry. Now, the European…

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Thai floods: One year later

Thailand Floods 2011

Lloyd’s of London analysts examine impact of Thai floods Just over a year ago, severe flooding in Thailand caused by a powerful and unforgiving monsoon season caused havoc in Bangkok and other cities throughout the country. Analysts from Lloyd’s of London have come together to examine the effects that the Thai floods had on the insurance industry and the country. The floods produced some $45.7 billion in damages, $12 billion of which was shouldered by insurance and reinsurance companies that operate in the country. Lloyd’s of London itself accounted for…

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