Live Insurance News

Insurance news from Nigeria reveals intentions to triple the country’s marketplace

January 18, 2013January 18, 2013 H. Cutner

If they are successful, it would bring their market up to $6.4 billion in 4 years. The most populated country of Africa, Nigeria, has just declared its latest insurance news, which includes intentions to increase its marketplace by more than three times its current value, and that it will accomplish this goal by 2017. The hope is to be able to achieve this target by improving the industry’s reputation in the nation. This insurance news announcement was made by the country’s insurance commissioner, Daniel Fola. He explained that the people…

International insurance news from China shows rural medical coverage boost

January 8, 2013January 8, 2013 H. Cutner

Health plans for residents of areas outside of urban and suburban zones will receive larger government subsidies. On Monday, China made international insurance news with its latest announcement from the health minister of the country, Chen Zhu, which stated that the government of the nation would be increasing the subsidies that it provides to the medical coverage available to rural residents in 2013. The annual subsidy will be increased by an average of 40 yuan per person. The government subsidy that will now be available to rural residents in this…

Insurance news from Itochu shows expansion of Lloyd’s of London within U.K Alliance

January 8, 2013April 30, 2013

Lloyd’s insurance claims - Home office building

New partnership between Japanese and British companies works to broaden the industry. Itochu Corp, a company that has set its sights on becoming the most profitable trading house in Japan aside from the mineral resources industry, has announced the latest insurance news of a new alliance with Antares Managing Agency Ltd. from the United Kingdom, in order to broaden the insurance industry. The alliance represents a number of important firsts within the industry in Japan. The partnership with Antares, which is based in London, with Itochu, will represent the first…

Auto insurance lacking in over one third of drivers in India

January 4, 2013January 4, 2013 Julie Campbell

Research has estimated that up to 35 percent of vehicles on Indian roads are not covered by a policy. A shocking auto insurance news release from Mumbai has revealed that an estimated 35 percent of cars on the roads of India are not carrying the third party liability coverage that is required by law. Moreover, over two thirds of two-wheeled vehicles are not covered by a legally required policy. This data was provided following an analysis performed by auto insurance companies in the country. What is possibly even worse is…

Insurance industry changes will likely come in the form of consolidations

January 2, 2013April 30, 2013

Sun Life, a global insurer from Canada, is seeking to find new opportunities for acquisitions. The Canadian large global insurer, Sun Life, is currently on the prowl to make more changes to its position in the insurance industry, as it seeks out new acquisition opportunities within the Philippines marketplace. The insurer has also been spotted looking for some new consolidations within the local environment. The president of Sun Life Financial Philippines, Riza Mantaring, stated that the Insurance Commission’s new and higher minimum capital requirements which will be P1 billion by…