Insurance News ME

EFU plans to expand across Asia

KARACHI: The Eastern Federal Union (EFU) has planned to expand its business activities across Asia. EFU Managing Director Saifuddin N Zoomkawala stated this at a programme, organised by the 21st Century.

Sri Lanka Sampath Bank expands into bancassurance with Eagle

April 03, 2008 (LBO) – Sri Lanka’s Sampath Bank launched a life insurance policy scheme for its customers Thursday in a tie-up with Eagle Insurance, saying it wants to further diversify its financial services.

Eagle Insurance grows revenue 22% but profit growth marginal

Eagle Insurance PLC, now controlled by global insurance giant Aviva, has posted strong revenue growth in the year ended December 31, 2007 but seen only a marginal improvement in profitability according to the company’s just released annual report.

ICICI Bank partners with Janashakthi Insurance for bancassurance

Janashakthi Insurance, Sri Lanka's leading insurance company which topped an unprecedented premium income while being in operation for just over a decade and the ICICI Bank, India's largest private bank with assets of over US$ 96 billion as of December 31, 2007 joined forced in a strategic partnership for bancassurance arrangement.

Janashakthi-ICICI Bank in discussion for strategic tie-up

Janashakthi Insurance and ICICI Bank concluded discussions for a bancassurance channel agreement in Mumbai recently.

Aviva IFS Global Health Insurance now in Sri Lanka

Powered by the global expertise of Aviva, Eagle brings the best of global insurance to Sri Lanka and launches the comprehensive Aviva IFS Global Health Insurance, a press release said.

Minister revokes Danamon Insurance`s business license

Jakarta (ANTARA News) - Finance Minister Sri Mulyani Indrawati has revoked the business license of PT Danamon Insurance in Decree No Kep-176/KM.10/007 dated 17 September 2007.

DFCC Vardhana, SLI tie up in Bancassurance Partnership

A leading bank and the leader in insurance have tied up for a Bancassurance Partnership crystallizing the deal on Vardhana Assurance from DFCC Vardhana and Sri Lanka Insurance.

In a bid to add non banking products the DFCC Vardhana Bank’s (DVB) Managing Director/CEO L.G. Perera said that through this venture they would be able to bring to their customers a non financial range of products.