AIG closes $697.5M sale of life insurance premium finance portfolio as part of restructuring

October 15th, 2009 KOLKATA - Riding on signs of economic recovery and new product launches Future Generali India Life Insurance expects to earn a first-year premium (FYP) income of Rs.750 crore this fiscal, a senior company official said here Thursday. "We have achieved an FYP income of Rs.153 crore for the first two quarters this year.

October 15th, 2009 Health care issues: A premium cost generation gapA look at key issues in the health care debate: THE ISSUE: Should older Americans have to pay higher insurance premiums than younger Americans? THE POLITICS: The double-edged sword of the health care debate is the so-called age gap in insurance premiums. Americans between the ages of 50 and 65 who purchase their own insurance typically pay much higher premiums than younger people.

October 1st, 2009 Genworth Financial closes sale of Genworth SegurosNEW YORK — Genworth Financial Inc. said Thursday that it completed the $45 million sale of Genworth Seguros Mexico S.A.

September 21st, 2009 Covidien closes sale of sleep productsNEW YORK — Medical device maker Covidien said Monday it completed the sale of its sleep diagnostics assets to Embla Systems. Financial details of the previously announced deal were undisclosed.

September 6th, 2009 CHENNAI - A flurry of plane crashes across the world this year will find its echo in the domestic aviation insurance premium rates in the form of a 25-40 percent hike. The year 2009 will go down as a bad year for airlines with three major accidents - Air France, Yemenia and Caspian Airlines - killing around 550 people.

July 9th, 2009 PANAJI - Private life insurer Aegon Religare Thursday said India, where barely one-fifth of the total population is covered by life insurance, is a huge market for insurance companies. "It is a misconception that the life insurance market in India is saturated.

July 2nd, 2009 CHENNAI - Life insurance penetration in India dipped in 2007, first time since the sector was opened up for private players a decade ago, said the country's Economic Survey for 2008-09 released here Thursday. "The life insurance penetration in India increased from 1.77 percent in 2000 to 4.1 percent in 2006, before declining to 4 percent in 2007," the survey tabled in parliament by Finance Minister Pranab Mukherjee said.

June 24th, 2009 NEW DELHI - Life Insurance Corporation of India (LIC) on Wednesday announced that it would invest about 50,000 crore rupees in the equity market during this financial year. Addressing media persons in the national capital, Life Insurance Corporation of India's Managing Director Thomas Mathew said: "We expect to invest nearly Rs 50,000 crore in equities this year against Rs 40,800 crore last year." The largest life insurer in the country has invested about Rs 8,000 crore in the equities so far in this fiscal.

June 23rd, 2009 KOLKATA - Life Insurance Corp of India (LIC), the country's largest life insurer, is targeting 20 percent growth in premium this fiscal, a top official said here Tuesday. "Last year we have received total premium of Rs.155,000 crore.

June 18th, 2009 KOLKATA - Future Generali India Life Insurance, co-promoted by the Kishore Biyani-led Future Group that owns the Pantaloons apparel brand, plans to launch 10-12 new products this fiscal, some of which will be specially designed for women. "Broadly the products will be designed as bundled products or products for women and micro and rural sectors," Nagesh Rajanna, sales and business development chief of Future Generali, said here Thursday while launching the company's new product Future Anand.

April 16th, 2009 NEW DELHI - Public sector insurance major Oriental Insurance Co Ltd (OICL) expects a steep fall of over 78 percent in profit for 2008-09, thanks to the economic slowdown. The profits will be reduced 'substantially' due to the slowdown in the economy, leading to defaults in premium payments and the company itself reducing the premium amount, OICL chairman-cum-managing director M.

February 10th, 2009 NEW DELHI - The government will soon launch a new rural postal life insurance scheme at a monthly premium of Rs.1.25 for the rural people, Minister of State for Communications and IT Jyotiraditya Scindia said here Wednesday. 'The new policy will be of Rs.100,000 of sum assured in which a person has to contribute only Rs.1.25 per month or Rs.15 per year as premium.

January 13th, 2009 KOLKATA - Future Generali, the joint venture with the Italian insurance giant Generali, is expecting to touch a premium income of about Rs.10 billion by 2010, a senior official said Wednesday. Future Generali is the insurance joint venture between Future Group of India and Italy-based Generali Group with a 74:26 stake.

January 1st, 2009 CHENNAI - State-owned Life Insurance Corp (LIC) increased its new business income by Rs.5.63 billion in November over the previous month, but the 20-member private sector club stagnated, data released by the sectoral watchdog Friday showed. According to the figures released by Insurance Regulatory and Development Authority (IRDA), LIC earned a total premium of Rs.33.46 billion (Rs.3,346 crore) in November, selling nearly 2.58 million policies.

December 30th, 2008 CHENNAI - The restructuring initiatives at the city based non-life major United India Insurance Company Ltd are progressing at a good pace, said a top company official Wednesday. 'On the advice of Boston Consulting Group (BCG), we are creating business verticals, setting up exclusive centralised offices for faster claims settlement,' G.