Insurance regulator IRDA today asked insurance provider Tata AIG to clarify if it was solvent in the wake of reports that the venture's American partner AIG was in deep financial trouble.
The venture was conspicuously silent and no comments could be obtained till late this evening, with the company hedging the queries throughout the day by saying it would come out with a statement soon.
"Having regard to the developments reported in USA, the IRDA has asked for the reports of the companies in the matter," the regulator said in a statement.
The Economic Times
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In response to today's announcement by Lehman Brothers Holdings Inc. ("Lehman") of its intent to file a Chapter 11 bankruptcy petition, Sun Life Financial Inc. (TSX/NYSE: SLF) today announced that it holds $334 million par value of Lehman bond securities and approximately $15 million net value of Lehman derivative instruments. Sun Life Financial holds collateral security under collateral security agreements for its net derivative exposure to Lehman.
Most of Sun Life Financial's Lehman exposure is held in segments backing liabilities. Under Canadian accounting rules, when a bond backing liabilities is written down in value or defaults, the actuarial assumptions about the cash flows required to support the liabilities will change, resulting in a strengthening of reserves with a corresponding charge to income...
www.InsuranceHeadlines.com |
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Moneyfacts.co.uk has revealed that the price of life insurance is half of what is was 10 years ago.
A price war between insurers and other providers such as supermarkets offering cheaper insurance has meant that life insurance is much cheaper than it was a decade ago.
Car insurance and home insurance may have risen over recent years but according to moneyfacts.co.uk, life insurance premiums have halved...
Finance Markets |
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The subscription prices for AXA's 2008 employee share offering (Shareplan 2008) have been determined by the Management Board on September 15, 2008.
The subscription prices are based on a reference price of euro 21.47, which is equal to the arithmetical average of the 20 opening stock price quotes for the AXA shares on the compartment A of Euronext Paris S.A. over a period of 20 consecutive trading days from August 18, 2008 to September 12, 2008 inclusive (the "Reference Price")...
India News Online |
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As the American Farmers and Ranchers Insurance Company expands into 24 western states, President and CEO Ray L. Wulf, AFR Executives and Members of the AFR Board of Directors met Idaho Governor Butch Otter and Idaho Department of Insurance Director Bill Deal to express their appreciation during the week of August 18th...
