2008-11-06 Insurers mixed on U. S. funding The Des Moines Register

Investments in insurance companies would dramatically widen the scope of Treasury Secretary Henry Paulsons Troubled Asset Relief Program, which has already bought usd. 125 billion worth of shares in nine of the nations largest banks, including Wells Fargo. West Bank in West Des Moines also said it is applying to participate in the program for usd. 12 million to usd. 36 million.

If insurers become allowed to participate in the program, holdings of Principals insurance company would be counted, resulting in a higher amount the government could purchase. Its not clear how the government would calculate the amount insurance companies could receive.

www.desmoinesregister.com

The federal government has begun purchasing stakes in some of the nations largest banks, but its rescue plan may not stop there. The Treasury Department is considering whether the program - Business Des Moines Iowa News local news headlines stories world news

2008-11-05 NAMIC to Paulson: Property/Casualty Insurance Companies Do Not Want or Need Direct Capital Infusion-Related Stories-NAMIC dailyLead

Charles Chamness, president and CEO of the National Association of Mutual Insurance Companies, recently sent a letter to Treasury Secretary Henry Paulson making clear that there is no need for the inclusion of property/casualty insurance companies in the Capital Purchase Program. NAMIC member companies remain strong and solvent and the program would create a competitive advantage for participating companies while also undermining policyholder confidence. Chamness further urged the secretary not to burden the most solvent and efficiently regulated segment of the financial services industry with any new federal regulatory requirements.

www.smartbrief.com

NAMIC to Paulson: Property/Casualty Insurance Companies Do Not Want or Need Direct Capital Infusion - NAMIC to Paulson: Property/Casualty Insurance Companies Do Not Want or Need Direct Capital Infusion

2008-11-05 Pennsylvanians Encouraged to be Cautious about Liquidating or Replacing Their Annuities-MarketWatch

Consumers should be particularly cautious if they are approached to liquidate annuities issued by an AIG insurance company because of the recent activity concerning AIGs holding company," Commissioner Ario said. "The AIG insurance companies are separately regulated by state insurance regulators and our laws provide strong protections for policyholders. AIG insurance companies are meeting their obligations to their policyholders. Consumers who feel pressured to replace annuities because of claims the insurer is under financial stress are encouraged to contact the department. "

www.marketwatch.com

2008-11-05 LIC pumps in Rs 15,000 cr into NCDs of big cos- Finance-Banking/ Finance -News By Industry-News-The Economic Times

Corporates issue these debentures largely to meet their working capital requirements as well as long-term capital expenditure plans. As far as debentures are concerned, insurance companies and provident funds are a substantial source of funding for companies. Insurance companies largely invest in tradeable securities like debentures and bonds. Last year, external commercial borrowing (ECB) was a favourite fund-raising route among corporates.

MUMBAI: Life Insurance Corporation (LIC) has come to the rescue of corporates scrambling to raise funds. The public sector life insurer has invested around Rs 15,000 crore in the past six months (of this financial year) in non-convertible debentures (NCDs) issued by companies. Its clients range from Tata and Birla group companies to L and T and Mahindra and Mahindra.

economictimes.indiatimes.com

2008-11-05 Health Insurance Companies Bribe Doctors to Prescribe Generic Drugs

Insurance companies want doctors to prescribe generics instead of brand-name pharmaceuticals because it saved them a lot of money. So how to reach physicians with the message that they should prescribe more generics Simple: Do what Big Pharma does and just bribe the docs with expensive dinners and cash handouts. Forget real medicine. Forget science. Doctors are influenced by gifts, vacations, meals and outright bribes. Medical science has nothing to do with modern medicine. Its all about who can cut the biggest bribe check.

www.naturalnews.com

2008-11-05 Nigeria to host West African insurance companies confab

Nigeria is set to host the West African Insurance Companies Association (WAICA) Education Conference in the commercial city of Lagos 9- , the organisers said in a statement made available to PANA here Tuesday. The conference will attract insurance practitioners from the Anglophone West African countries, including The Gambia, Ghana, Sierra Leone, Liberia and host Nigeria.

WAICA was established in 1973 as an International Association of Insurance Companies and Institutions, with the objective of promoting insurers and re-insurers operations in Anglophone West Africa.

www.afriquenligne.fr

Nigeria is set to host the West African Insurance Companies Association (WAICA) Education Conference in the commercial city of Lagos 9- , the organisers said in a statement made available to PANA here Tuesday. The conference will attract insurance practitioners from the Anglophone West African countries, including The Gambia, Ghana, Sierra Leone, Liberia and host Nigeria.

2008-11-02 Insurance companies charge women more -

WASHINGTON Striking new evidence has emerged of a widespread gap in the cost of insurance, as women pay much more than men of the same age for individual health insurance policies providing identical coverage, according to new data from insurance companies and online brokers.

But Marcia Greenberger, co-president of the National Womens Law Center, an advocacy group, said that the cost differences "could not possibly be justified by actuarial principles. We should not tolerate women having to pay more for health insurance, just as we do not tolerate the practice of using race as a factor in setting rates. "

www.chicagotribune.com

WASHINGTON and no. 8212; Striking new evidence has emerged of a widespread gap in the cost of insurance, as women pay much more than men of the same age for individual health insurance policies providing identical coverage, according to new data from insurance companies and online brokers.

2008-11-02 U. S. Eyeing Troubles Of Insurers

Several insurance companies have publicly stated that they are likely to seek government funding should it become available. "We feel very well capitalized," Hartford chief financial officer Lizabeth Zlatkus told analysts on a conference call earlier this week. "But in terms of would we access the (Capital Purchase Program) if thats available We certainly think there are favorable terms as we see it, and we would look to do that. "

Several big insurance companies this week reported big losses on investments in the last quarter, raising fresh questions about the financial stability of the firms as the U. S. government considers investing in them.

www.washingtonpost.com

Several big insurance companies this week reported big losses on investments in the last quarter, raising fresh questions about the financial stability of the firms as the U. S. government considers investing in them. - Business news headlines metro business personal finance finance email newsletters business archives business columnists washington region business

2008-11-02 Newly delinquent homeowners nearly doubled those catching up-Salt Lake Tribune

The number of homeowners who defaulted on privately insured mortgages reached 76,776 last month, the most since the Mortgage Insurance Companies of America changed its methodology for tallying the figures in April. Mortgage insurance pays lenders when homeowners default, and is typically required when a borrower puts down less than 20 percent on a home.

The figures from MICA arent comparable to any month prior to April because the association changed the way it calculates defaults that month. Triad, the smallest of the six companies that provided data to the group, stopped supplying information on its existing customers in July.

www.sltrib.com

Newly delinquent homeowners nearly doubled those catching up

2008-11-01 Worst times over for Chinas insurance industry

To prevent risks, the state regulator is moving slowly in approving Qualified Domestic Institutional Investors (QDII) quotas. Among the three insurance companies listed in the A-share market, the China Insurance Regulatory Commission only approved China Life and Ping Ans QDII quotas, which are 2 percent and 15 percent respectively of their total assets as of the end of 2007.

However, Cheng Siwei, a renowned Chinese economist, has said that the financial turmoil shaking Wall Street is a result of various factors combined. As banks, investment banks, funds and insurance companies form financial fund chains in the United States, the insurance industry maybe the next victim of the crisis, he warned.

www.chinadaily.com.cn

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