The News Review:
- Understanding the Financial Sector: Insurance Companies
- SD court rules on state insurance tax
- Erste Bank sells insurance ops to Vienna Insurance Group for 1.44 bln…
Understanding the Financial Sector: Insurance Companies
thestreet.com – Mar 27, 2008
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Many do not understand insurance companies and even more do not appreciate their benefits until forced to buy insurance or perhaps when they experience a loss and it is too late. (Consider the people who suffered great personal losses in the wake of natural disasters like Hurricane Katrina or man-made disasters like those on September 11, 2001. )
Due to the complexity and varied product lines within the insurance business, I find insurance companies to be less understood than other financial service companies. So this installment of The Finance Professor will now take a look at this industry group. How Insurance Companies Make Money
Think of insurance companies as big casinos.
Related: Enterprise risk management in insurance sector could improve in 2008 …
SD court rules on state insurance tax
Forbes – Mar 27, 2008
(AP) – South Dakota’s tax on insurance premiums is constitutional because it does not discriminate against insurance companies based in other states, the South Dakota Supreme Court ruled Thursday. court rules on state insurance tax – Forbes.
Erste Bank sells insurance ops to Vienna Insurance Group for 1.44 bln…
Forbes – Mar 27, 2008
445 bln eur and signed a 15 year distribution agreement with the Austrian insurer. In a statement, Erste Bank said the transaction comprises its unit s Versicherung, as well as its insurance units in Central and Eastern Europe including BCR’s insurance unit. Erste Bank, or its respective CEE banking subsidiaries, will retain a 5 pct share in each of the local life insurance companies, the bank said. In the framework of the 15 year distribution agreement, Erste and VIG will become preferred partners and will mutually distribute their products in the region, Erste said.
Related: Enterprise risk management in insurance sector could improve in 2008 …