India’s first third party insurance licensee exits business

September 24th, 2009 Health care issues: Shopping for insuranceA look at key issues in the nation's health care debate: THE ISSUE: Is there an easier, more transparent way for consumers to shop for health insurance? THE POLITICS: Most Americans under age 65 get insurance coverage through their employers. Small-business employers, however, increasingly find policies unaffordable.

September 8th, 2009 Health care issues: The public insurance planA look at key issues in the health care debate: THE ISSUE: Should Americans have the option of getting health insurance from a government plan that competes with private companies? THE POLITICS: Many Democrats want to do away with private insurance and replace it with something resembling Medicare coverage for all, but that's not politically feasible. Offering the choice of a government insurance plan was a compromise within the Democratic Party.

August 27th, 2009 First Horizon Insurance acquires Sandlin InsuranceMEMPHIS, Tenn. — First Horizon Insurance Group Inc.

August 27th, 2009 Calif. insurance regulator to sue over state fundSACRAMENTO, Calif. — California's insurance commissioner says he plans to sue Gov.

August 4th, 2009 CHENNAI - Non-life insurer Cholamandalam MS General Insurance (Chola MS), a joint venture between city-based Murugappa Group and Japan's Mitsui Sumitomo Insurance Group, Tuesday said it will continue targeting Korean and Japanese firms operating in India for selling its products. "Our strategy in India will be to expand the retail business, bring the technical knowhow in risk management from Japan to the country and train Chola MS employees in Japan and Singapore," Toshiaki Egashira, president and chief executive of Mistsui Sumitomo Insurance, told reporters here.

July 28th, 2009 AIG sells life insurance premium finance businessNEW YORK — Insurer American International Group Inc. said on Tuesday that it closed the sale of its life insurance premium finance business for $679.5 million in cash.

July 21st, 2009 NEW DELHI - Despite achieving a healthy 16 percent annual growth rate, India's general insurance business accounts for just 0.6 percent of the gross domestic product (GDP), compared to the world average of 2.14 percent, says a report released here Tuesday. "The penetration of general insurance in India remains low on account of low consumer preference, largely untapped rural markets and constrained distribution channels," said the report jointly prepared by Crisil and the Associated Chambers of Commerce and Industry of India (Assocham).

July 10th, 2009 NJ brewery draws ire for naming beers after exitsCHERRY HILL, N.J. — A New Jersey brewery is using the state's congested and often-derided turnpike to promote its beer.

July 6th, 2009 NEW DELHI - Finance Minister Pranab Mukherjee Monday revived the government's divestment programme, promising equity of state-run enterprises in the hands of general public. He also said that in areas like banking and insurance, specifically, the majority control in state-run companies would remain in the hands of the government with fresh infusion of equity to help them remain globally competitive.

June 24th, 2009 Jones Apparel Group raises stake in GRI GroupNEW YORK — Jones Apparel Group Inc. said Wednesday that it purchased an additional 15 percent stake in licensee GRI Group Ltd.

May 27th, 2009 NEW DELHI - Amity Global Business School, in collaboration with Max New York Life Insurance, Wednesday announced the launch of a post-graduate diploma in insurance and sales management. The programme offers professional training in specialised subjects such as insurance sales practices and management, insurance products, legal and regulatory aspects of life insurance as well as general and marketing management.

April 23rd, 2009 EU court backs Dior on resale disputeLUXEMBOURG — The European Union's highest court ruled Thursday that Dior luxury fashion company can bar the resale of its goods by discount stores. The Court of Justice said Dior can prevent a licensee from passing on goods to discount stores if it "damages the allure and prestigious image which bestows on those goods an aura of luxury." The ruling came after a French high court sought advice in a dispute between Christian Dior Couture SA and licensee Societe Industrielle lingerie over the sale of Dior luxury corsetry goods to a discount store.

March 31st, 2009 CHENNAI/CHANDIGARH - Officials at the India Post Insurance Directorate, the insurance arm of India Post, are upbeat about business prospects, while the rest of the industry is struggling to cope with a slowdown. The two major schemes of the company - postal life insurance (PLI) and rural postal life insurance (RPLI) - are logging good growth despite bad economic sentiments, the officials said.

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.

December 22nd, 2008 AGARTALA - Over 1,700 insurance employees in the northeast went on strike Tuesday as part of a nationwide protest against the government's move to raise foreign direct investment (FDI) in the insurance sector. More than 1,700 insurance employees belonging to 22 branches of Life Insurance Corp of India (LIC) and the General Insurance Corp (GIC) in Tripura, Manipur, Mizoram and Assam took part in the strike, said Dipankar Chakraborty, a spokesman of the All India Insurance Employees Association (AIIEA).