Live Insurance News

Life insurance stake at Vysya sold by ING

January 25, 2013April 30, 2013

The 26 percent share in the company was expected to sell and has finally gone to another insurer. ING, the Dutch banking group, has sold its 26 percent share of Vysysa Life Insurance to another insurer in the Asian marketplace, Exide Industries, a local company. This makes ING the second foreign business to step out of India within the last year. This is a notable occurrence as the life insurance sector within India is considered to be competitive. ING made the initial announcement on Wednesday, stating that this decision to…

Insurance industry news made when Treasury sold remaining AIG shares

December 12, 2012April 30, 2013

There were 234.2 million shares left of the massive insurer, and their price was $32.50 each. The Treasury Department has just announced its latest insurance industry move with the sale of all of its remaining shares of American International Group (AIG), which brings to a close the largest bailout from the U.S. government in the 2008 financial crisis. The Treasury stated that it received $32.50 for each of the 234.2 million shares it continued to hold. That represented the last of the sales of the 16 percent ownership that the…

Insurance news from HSBC includes intention to sell Ping An stake

November 20, 2012April 30, 2013

A share of approximately $9.3 billion of the Chinese insurer will be sold. The latest insurance news from HSBC is that it is currently in negotiations to sell its stake of the Chinese insurer, Ping An, which is worth approximately $9.3 billion. The intention is to boost the profitability of this largest bank in Europe. It will be accomplished as a part of a larger effort to slough away some of its non-core operations. The sale of the Ping An stake is not unexpected insurance news. It was relatively anticipated…