No kidding.. as per the IRDA new circular, Life insurance firms will now have to spell out to customers the commission they pay to agents on each policy. This will be effective July 1, 2010.
Guess what ..?! customers will start asking more cut on the premiums they pay :) !!!
Read on more on - Disclose agent commissions to customers: IRDA
Source: http://economictimes.indiatimes.com
The government has accused Goldman Sachs & Co. of defrauding investors by failing to disclose conflicts of interest in mortgage investments it sold as the housing market was faltering.
Read on: Goldman Sachs charged with fraud by SEC
Source: MSN News
Truly amazing teamwork !!!
Body and mind coordination at it's best !!!
I am totally speechless....
Watch it to believe it: Practice makes one Outstanding
The following list ranks the top 10 M&A deals in the insurance sector: Britain's Prudential said it would buy AIG's Asian life insurance arm for $35.5 billion, in a deal set to make the insurer the undisputed leader in one of the world's fastest-growing financial services markets.
Date -- Target Name -- Acquirer -- Value
1. 03/01/10 -- American International Association (AIA) -- Prudential -- $35 bln
2. 04/03/01 -- American General -- AIG -- $23.39 bln
3. 06/19/98 -- General Re Corp -- Berkshire Hathaway Inc. -- $22.30 bln
4. 04/17/00 -- Allied Zurich PLC -- Zurich Financial Services AG -- $19.39 bln
5. 08/20/98 -- SunAmerica Inc -- AIG -- $18.11 bln
6. 10/13/97 -- BAT Industries PLC-Financial -- Zurich Financial Services AG -- $17.05 bln
7. 11/17/03 -- Travelers Ppty Casualty Corp -- St Paul Cos Inc -- $16.13 bln
8. 10/19/08 -- ING Groep NV -- Netherlands -- $13.41 bln
9. 09/27/01 -- Fortis(NL)NV -- Fortis SA/NV -- $12.46 bln
10. 12/19/01 Travelers Property Casualty -- Shareholders -- $12.21 bln
Source: ThomsonReuters (Compiled by Carl Bagh, Bangalore Editorial Reference Unit; Edited by David Cutler)
Copyright 2010 by Reuters. All rights reserved.
Prudential P.L.C., the British financial services firm, is in talks with the American International Group over a potential deal for the American firm’s giant Asia life insurance operations that could be worth more than $30 billion, people briefed on the matter told DealBook on Saturday.
Read on: Prudential P.L.C. in Talks to Buy A.I.G. Asia Unit
Source: http://dealbook.blogs.nytimes.com
MINNEAPOLIS, Feb 26, 2010 (BUSINESS WIRE) -- Minneapolis-based Allianz Life Insurance Company of North America (Allianz Life) today posted the highest operating profit in the company's 110-year history at nearly $800MM for its 2009 financial year. The results can be attributed to strong operational performance coupled with rebounding economic conditions, including rising interest rates and narrowing credit spreads, which may not continue or be as impactful in 2010.
Read on: Allianz Life Reports Solid Operating Profits and Premium for 2009
Source: http://www.marketwatch.com
After two straight profitable quarters, AIG is expected to report a substantial loss for the fourth quarter when the troubled insurer announces its latest financial results Friday morning.
Read on: AIG to take a big hit
Source: http://money.cnn.com
Although some of us thinks that US insurance market is kind of saturated and there is very little scope for new player to gain recognition and market, there are business groups who believes in their strategic long term plans and knows how to get recognition.
Here is a news - Headquartered with the Industrial Alliance Pacific Life Insurance Company ("IA Pacific") US division in Scottsdale, Arizona, IA American is the next phase of the Company's long-term growth strategy in the United States.
Read on - A New American Life Insurance Company is Launched: IA American
Source: http://www.prnewswire.com
Here is an excellent video from Tony Robbins on New Years resolutions.
Guess this is what we all needed... a push, or a punch or whatever you would like to call it.
As Tony rightly said - "Wake up and take action-a New Year and a New Life doesn’t just happen on January 1."
Watch online: New Year, New Life-Don’t be trapped by the calendar. Create the life you want right now. Here’s where to start
Source: http://tonyrobbinstraining.com
Breaking news!!!
MetLife, where Robert H. Benmosche made his mark as an insurance executive, has emerged as the lead bidder for a major subsidiary of the American International Group, where Mr. Benmosche is now chief executive.
Read on: A.I.G. Unit May Be Sold to MetLife
Source: The New York Times (http://www.nytimes.com)
