The News Review:
- Africa: Insurance Industry Needs Image, ICT and PR – FANAF Boss
- FHA Expands Mortgage Insurance to Troubled Borrowers (Update3)
- Africa: New Effort to Promote Health Insurance
- SBI shortlists 3 cos for insurance
- UK insurance market stable despite softening cycle, higher economic…
Africa: Insurance Industry Needs Image, ICT and PR – FANAF Boss
AllAfrica.com – Apr 9, 2008
In this interview with Patience Saghana, Mr Ayangma Amang says the Insurance industry in Africa cannot shy away from the menace of image problem confronting it. He says the Insurance industry in Africa needs Information and Communications Technology to be able to compete favourably in the global market while noting that the issue of public relations is paramount for the sector. GA_googleFillSlot(“AllAfrica_Story_Inset”); What is FANAFFANAF is an international body for insurance companies with the objective of defending the general interests of member-companies while coordinating the activities of its members on the one hand, and facilitating and developing cooperation between member-companies on the other hand. Founded in 1976, it comprises 136 insurance and reinsurance companies and a guarantee fund.
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FHA Expands Mortgage Insurance to Troubled Borrowers (Update3)
Bloomberg – Apr 9, 2008
Borrowers who are as much as three months behind on theirmortgages, have damaged credit histories and owe more than theirhomes are worth will now be eligible to refinance with afederally insured loan, U. Housing and Urban DevelopmentDepartment Assistant Secretary.
Africa: New Effort to Promote Health Insurance
AllAfrica.com – Apr 9, 2008
com 9 April 2008Posted to the web 9 April 2008Cindy ShinerIn Africa, most people pay for health care out of their own pockets, and few can afford it. But new efforts are underway that enable the cost burden to be shared. The Dutch non-profit organization, PharmAccess, has introduced a health insurance scheme that it says builds solidarity while enabling Africans to get the health care they need. GA_googleFillSlot(“AllAfrica_Story_Inset”); "Those that can pay should pay," said Onno Schellekens, managing director of PharmAccess, in an interview. "It is enormously important that large organizations that run into the billions [of dollars] in total turnover take responsibility for their employees, even if it’s a loss-making activity.
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SBI shortlists 3 cos for insurance
Times of India – Apr 9, 2008
SBI, which announced its
intention to enter the segment last year, has shortlisted three partners from a
list of 9, said industry sources. According to a senior official, one of the
players under consideration is Australia’s IAG (Insurance Australia Group). Of
the other two players, one is German and the other is a US-based firm. SBI’s entry into general
insurance is expected to change the dynamics of the industry given the strengths
of the bank in corporate and retail business as well as its reach.
UK insurance market stable despite softening cycle, higher economic…
Forbes – Apr 9, 2008
S&P said in report that the support insurance companies have enjoyed from the steady economic growth in recent years is set to come under increased pressure due to the credit crunch. This comes when the sector also faces softening market conditions and reduced underwriting margins, the rating agency said. The UK economy is one of the most exposed in Europe to recession risks. This, combined with the Bank of England’s predictions that growth is likely to shudder to a halt in the next few months, is an issue for the long term prospects of insurers, S&P said.
[...] While the partisans on Capitol Hill haggle over their plans, the Fed is left to ponder the extent of its own powers, should more Bear-like emergencies arise. Before the credit crunch began last summer, the Fed had $790 billion in Treasury securities on its balance sheet. Since then, it has committed to sell or lend $300 billion of that, leaving the central bank with more breathing room on its balance sheet but not a limitless capacity to expand its lending.Related: UK insurance market stable despite softening cycle, higher economic… [...]
[...] Africa: Insurance Industry Needs Image, ICT and PR – FANAF BossAllAfrica.com – Apr 9, 2008In this interview with Patience Saghana, Mr Ayangma Amang says the Insurance industry in Africa cannot shy away from the menace of image problem confronting it. He says the Insurance industry in Africa needs Information and Communications Technology to be able to compete favourably in the global market while noting that the issue of public relations is paramount for the sector. GA_googleFillSlot(”AllAfrica_Story_Inset”); What is FANAFFANAF is an international body for insurance companies with the objective of defending the general interests of member-companies while coordinating the activities of its members on the one hand, and facilitating and developing cooperation between member-companies on the other hand. Founded in 1976, it comprises 136 insurance and reinsurance companies and a guarantee fund.Related: Africa: Insurance Industry Needs Image, ICT and PR – FANAF Boss [...]