London-headquartered diversified financial conglomerate HSBC is gearing up to offload its general insurance business in Macau, as part of its strategy to get rid of unprofitable businesses across the globe. One of its indirect wholly ...
American International Group (AIG) has seelcted Castor Aerospace as its new distribution channel for space-related insurance solutions including traditional satellite launch and in-orbit coverages. Satellite operators, manufacturers, ...
Texas Farm Bureau Insurance Companies, which offers auto, home, farm and ranch, life, and health insurance, has decided to implement Sapiens’ insurance technology to all its personal property and casualty lines of business. The ...
Tags: Texas Farm Bureau Insurance, Insurance, Personal Business Lines
HSBC Insurance (Singapore) has agreed to dispose of its group term life insurance and group medical insurance portfolios in Singapore to AXA Life Insurance Singapore, for an undisclosed sum. According to the underwriter, the gross asset ...
Tags: HSBC, Medical Insurance, Insurance
General insurance provider AXA UK has appointed Ian Brimecome as chairman of the board with immediate effect, who has been serving as a non-executive director of the company in the UK for six years. With more than 30 years of expertise of ...
Tags: General insurance, insurance, financial services industry
British insurer Legal & General Group has entered into an agreement to purchase 75% share capital of Cofunds Holdings, in a deal valued at approximately 131m in cash. The acquisition, which will be financed form the existing cash ...
Brown & Brown subsidiary Arrowhead General Insurance has signed definitive agreement to acquire certain assets associated with Everest Security Insurance Company (ESIC), a wholly-owned primary insurance subsidiary of Everest Re Group, ...
Tags: General Insurance, insurance, Everest
Dutch insurance firm ING Group has sold its 26% stake in ING Vysya Life Insurance Company to its joint venture partner Exide Industries for an undisclosed amount. The deal, which was originally inked in January this year, is a part of a ...
Tags: Life Insurance, Insurance, insurance firm
A direct provider of non-standard personal auto insurance, Direct General Insurance Group has selected and implemented Guidewire ClaimCenter as its new platform for claims management. Direct General has teamed with Capgemini, a Guidewire ...
Tags: auto insurance, Insurance Group, insurance
Aviva has reported a loss after tax of 3.1bn Euro for the year 2012 compared to a profit after tax of 60m during the same period in 2011, while loss after tax for continuing operations was 202m. The largest driver of the loss was sale of ...
Farmers Union Mutual Insurance Company of North Dakota (FUMIC-ND) has implemented EbixAdvantage as its new solution for end-to-end SaaS platform based policy administration system requirements. The software is scheduled to be used by the ...
Dutch insurer ING has disposed of its underwriting businesses in Hong Kong, Macau and Thailand to Pacific Century Group (PCG), for a combined consideration of €1.64bn ($2.14bn) in cash. ING insurance operations in Hong Kong and Macau ...
UK underwriter Aviva has agreed to sell Aviva Russia to Blagosostoyanie, a Moscow-based non-state pension fund, for a cash consideration of €35m. Subject to the approval of the Federal Antimonopoly Service of the Russian Federation, ...
Tags: Aviva, Blagosostoyanie, cash consideration
American International Group (AIG) has introduced a new product under its NextGen Protection family to address requirements of transportation and logistics industry. Dubbed PLL Transportation and Logistics Protect, the newly released ...
Tags: AIG, new product, NextGen Protection family
Yodil, a provider of business intelligence (BI), data analytics, and management reporting to the insurance industry, has signed an agreement with Nevada General Insurance, a provider of insurance software to the property and casualty ...
Tags: Yodil, BI, Nevada General Insurance