Live Insurance News

Insurance news report shows consumers prefer agents

July 11, 2012July 11, 2012 Marc

South Asian non-life customers still depend on professionals for their coverage needs. According to the latest international insurance news statistics regarding the commissions earned by individual agents from the first quarter of the 2011 fiscal year when compared to those of the first quarter of this year, the average has risen from 35 percent to 43 percent. This indicates a growing dependency from consumers on their agents. On a wider scale, there have been three channels of distribution, which include individual agents, corporate agents, and brokers. Together, these are the…

Aviva makes insurance news by releasing its plans to ride out the economy’s downturn

July 10, 2012July 9, 2012 Dan

The insurer will be trimming the fat to survive the downturn. Aviva, the number 2 insurer in the United Kingdom, is making insurance news by selling nearly a quarter of its businesses in a dramatic effort to rebuild investor support following struggles with its declining share price. The company’s new chairman, John McFarlane, hopes that this shake-up will be just what is needed. McFarlane stepped in following the removal of Andrew Moss in May 2012, when Aviva’s stock performance was strikingly weak. He will be taking the axe to sixteen…

Latest international insurance news includes new draft for global coverage framework

July 6, 2012April 30, 2013

Supervisors provide new outline for encouraging cooperation among regulators on a local level. The most recent international insurance news in the spotlight includes multinational supervisors in the industry, which have updated their global framework draft in order to help to encourage local regulator cooperation, as they deal with the struggles of regulating insurers with a great deal of business outside of their country of origin. The ComFrame – the name of the global framework – has been under construction for two years. The group responsible for the development of this…

Insurance news report shows global prices increased 1.4 percent worldwide

July 5, 2012July 4, 2012 Dan

The Marsh data was included in its index for Q2 2012. If the forecasts based on the most recent insurance news report from broker, Marsh, are accurate, then the worldwide prices are aligned for a third consecutive quarter of increases, as the industry works to strengthen its financial situation following the sizable catastrophe claim payments in 2011 that approached record levels. The second quarter 2012 average global prices were 1.4 percent higher than they were last year. According to the Marsh Risk Management Global Insurance Index – which tracks the…

Latest India insurance news regarding Liberty Mutual joint venture

June 30, 2012June 30, 2012 H. Cutner

The Boston based insurer has received approval to begin selling its products. Liberty Mutual Insurance Group is making international insurance news now that it has received approval from India and is licensed to be able to sell its products within that country. The insurer has entered into a joint venture with Videocon Industries Ltd. This combined effort between Videocon Industries Ltd. and Liberty Mutual Insurance Group will be known as Liberty Videocon General Insurance Co. Ltd. It is now considered to be fully licensed from the primary regulatory authority in…

Russian insurance marketplace showing signs of strength

June 27, 2012June 27, 2012 Julie Campbell

A.M. Best releases special report regarding improvements in the Russian marketplace. According to a report released by A.M. Best, within the international insurance industry, the Russian sector is a young one, faced with significant overcrowding and competition and yet, regardless of these notable challenges, it is maintaining a trend of radical changes. The name of this special report was “Russia’s Insurance Revolution Begins to Gain Pace”. It focuses on the low penetration of coverage within the country, even when there is a small amount of risk factors, or none at…

Latest insurance industry news in Singapore now includes Aetna

June 14, 2012April 30, 2013

Insurer granted license to offer individuals and employers health benefits. Global diversified health care benefits leader, Aetna, has announced its latest insurance industry news, that it has now received the license required to begin selling health coverage in Singapore. The insurer will now be selling these plans to both individuals and groups in the city-state. According to the managing director for Southeast Asia at Aetna International, Derek Goldberg, “We’re very pleased to offer our insurance products in Singapore.” He explained that “Singapore is a very attractive market for Aetna. It…