Live Insurance News

Indian government approves ordinance for the insurance industry

January 1, 2015December 30, 2014 Logan B.

Ordinance aims to allow foreign companies to hold a stronger position in the Indian insurance industry The Indian government has been mulling over an ordinance concerning the insurance industry for some time. The issue involves allowing foreign insurance companies to hold greater ownership over local domestic insurance endeavors. Some lawmakers had suggested that this would be a bad move for the domestic market, making it more difficult for domestic companies to compete in India or changing how these companies operate altogether. Supporters of the measure suggested that foreign companies could…

Marriage insurance takes off following a rash of cheating among celebrities

April 17, 2014April 15, 2014 Julie Campbell

This trend has been heaviest in China, where social media has reported infidelities among some top stars. As news of major celebrity divorces, infidelities, and other relationship-ending occurrences started making its rounds throughout social media sites in China, recently, the number of people who have been looking into marriage insurance has suddenly started to rise. It looks as though many people are starting to take this relationship news personally and want to protect themselves. Among the largest reports that have caused marriage insurance to increase in popularity was that Wen…

Life insurance business in Taiwan being sold by Manulife

August 6, 2013August 3, 2013 G. Turner

The company has announced that it will be ending the relationship that they have had in the country for 11 years. Manulife Financial Corp. has now announced that it will be ending an 11 year life insurance business relationship in Taiwan, and that it will be selling this business for about $25 million. The company has already found a buyer for this unit, and the acquisition processes are underway. CTBC Life Insurance Co., Ltd., will be purchasing this business from Manulife. It is the insurance arm of a large Taiwan…

Insurance news looks good for the industry’s profitability

June 7, 2013June 5, 2013 H. Cutner

India’s insurers have fared quite well over the last quarter, even in the case of life products. The latest insurance news that has been released from India has shown that the industry has done better than expected in terms of its profitability, including the life sector, which had been experiencing a slowdown in its collection of new business premiums. The industry has been struggling under the widespread economic challenges and low penetration in the country. However, the most recent insurance news appears to be showing that the industry in the…

Insurance news from India shows more officials facing suspension

May 9, 2013May 7, 2013 H. Cutner

A growing number of people have been caught in the massive Indian sting operation. At a time when insurance news headlines are already being made because almost all of the banks and insurers that were the target of a recent sting operation in India have promised to take strict action, there have been even more officials that will be facing suspensions. All of the banks and insurers have already started their own inquiries and have promised to take action. Among the actions that have been taken in this insurance news…

Insurance industry in the Philippines shows promising growth

April 30, 2013April 29, 2013 Dan

First quarter provides momentum to insurance industry The global insurance industry has shown some promise during the beginning of 2013. The industry, as a whole, has been struggling to overcome the challenges it faced over the past few years, many of which came at the hands of unexpectedly powerful natural disasters. In the Philippines, new reports from Emmanuel F. Dooc, Insurance Commissioner of the Philippines, suggest that the first quarter of 2013 was very beneficial for the country’s insurance industry. Commissioner Dooc provided his report to a recent United Nations…

International insurance news is coming from Nigeria with its health coverage

April 30, 2013April 29, 2013 H. Cutner

The country expects that its healthcare plan will be providing its residents with coverage by 2015. According to the latest international insurance news announcement from Nigeria, the new healthcare system will have been created and implemented across the entire country by 2015. The system is designed to run on a community level and is meant to provide everybody with coverage. According to the acting National Health Insurance Scheme (NHIS) secretary, Dr. Abdulrahman Sambo, the Community Based Social Health Insurance Scheme will be effective across all of Nigeria by 2015. This…