Insurance News ME

ACE Appoints Andreas Wania Regional Manager, Central & Eastern Europe

ACE European Group (ACE) (NYSE: ACE) announced today the appointment of Andreas Wania as Regional Manager for Central and Eastern Europe. Andreas's role encompasses a region extending from Russia and the CIS in the North through Central and Eastern Europe (CEE) to ACE's forthcoming Turkish operation in the South.

Bahrain: Islamic insurance firm launched

Latest ratings reflect bank's financial strength, strong capital and sound asset qualityBahrain and Qatar yesterday launched a new joint venture Islamic insurance company with a paid up capital of $70 million with participation by the entire platform of insurance players in both the countries.

ING get approval for Ukrainian life insurance

Dutch bank ING has been given the regulatory green light to begin life insurance activities in the Ukraine.

ING sees fastest growth on voluntary pensions

Voluntary pensions fund ING Optim, managed by ING Asigurari de Viata (ING Life Insurance) saw the fastest rise in terms of assets and in terms of number of participants in June, according to data from the Private Pensions Supervisory Commission.

Ahead of the Bell: Willis Group downgraded

An analyst downgraded Willis Group Holdings Ltd. late Monday, citing the British insurance broker's planned acquisition of Hilb Rogal & Hobbs Co.

InsWeb to Report Second Quarter Results and Host Quarterly Conference Call on July 24th

InsWeb Corp. (NASDAQ: INSW), a leading online insurance marketplace, today announced that it will report financial results for the second quarter of fiscal 2008 on Thursday, July 24th, 2008, after the close of market.

AIG Closes on Deal to Buy Majority Stake in Telecommunications Supplier

American International Group Inc. has completed the acquisition of a majority stake in UTStarcom Inc.'s personal communications division, in a transaction valued at approximately $240 million.

India-Bancassurance contributes major chunk for private players

Chennai, June 29 The insurance sector has witnessed a phenomenal growth over the past few years. In 2007-08, growth in premiums was over 40 per cent. Many private players are growing at rates above 70 per cent. Insurance premium collections have touched 4.1 per cent of the GDP.