Joomla! site syndication http://insurancebusinessnews.com/news 2010-03-10T18:42:52+01:00 http://insurancebusinessnews.com/news http://insurancebusinessnews.com/news/images/M_images/joomla_rss.png text/html 2008-09-16T12:09:47+01:00 http://insurancebusinessnews.com/news http://insurancebusinessnews.com/news/news-today/irda-seeks-status-report-from-tata-aig.html 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 (http://economictimes.indiatimes.com/Personal_Finance/Insurance/Insurance_news/IRDA_seeks_status_report_from_Tata_AIG/articleshow/3490852.cms) text/html 2008-09-16T12:01:14+01:00 http://insurancebusinessnews.com/news http://insurancebusinessnews.com/news/business-insurance/sun-life-financial-statement-on-lehman-holdings.html 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 (http://www.insuranceheadlines.com/Life-Insurance/5180.html) text/html 2008-09-16T11:56:46+01:00 http://insurancebusinessnews.com/news http://insurancebusinessnews.com/news/news-today/quit-smoking-and-save-on-life-insurance.html 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 (http://www.financemarkets.co.uk/2008/07/24/quit-smoking-and-save-on-life-insurance-2/) text/html 2008-09-16T11:52:51+01:00 http://insurancebusinessnews.com/news http://insurancebusinessnews.com/news/business-insurance/axa-announces-the-subscription-prices-for-its-2008-employee-share-offering-shareplan-2008.html 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 (http://news.indiamart.com/news-link.html?url=http%3A%2F%2Fus.rd.yahoo.com%2Ffinance%2Findustry%2Fnews%2Fmostpop%2F*http%3A%2F%2Fbiz.yahoo.com%2Fprnews%2F080916%2Fnytu083.html%3F.v%3D101) text/html 2008-09-16T11:46:00+01:00 http://insurancebusinessnews.com/news http://insurancebusinessnews.com/news/business-insurance/subprime-crisis-lawsuits-hit-unprecedented-levels.html America’s subprime mortgage crisis has reached an unprecedented level according to a report released this week.Navigant Consulting reveal in a report that more federal lawsuits have been filed as a result of subprime mortgages than were filed during the savings and loans (S L) crisis of the 1980s and 90s.S L lawsuits in the early 1990s totalled 559.For the 18-months ending 30th June 2008, federal courts filed 607 subprime-related cases. Over half of these were filed during the first six months of 2008.In the second quarter of 2008, more than three new cases were filed for every one case dismissed or settled.Certain types of litigation began to slow down in the second quarter, such as new borrower lawsuits related to subprime mortgages seeking class-action status...Insurance Daily (http://www.insurancedaily.co.uk/2008/09/16/subprime-crisis-lawsuits-hit-unprecedented-levels/)