Aviva, a leading global insurance giant, has said that it has recorded 6 per cent rise in operating profit on Thursday, which is higher than market expectations.
Aviva is in the middle of a turnaround plan that has seen 2,000 lay-offs and sales of underperforming businesses in various countries in Asia. The company said that its operating expenses fell 7 percent and cost saving targets for the year was ahead of plans, indicating that the company might restore the confidence of its investors.
The authorities in the US have said that they are planning to enrol inmates in health care coverage that is available to them under the new Affordable Care Act.
The Affordable Care Act, which came into effect from 1 January, 2014, offers health coverage to the people in the US. Jail officials in San Francisco will enrol inmates in health care coverage and experts have said that former convicts with health coverage will be less likely to repeat offenses. The Department of Public Health said that the inmates with health insurance are likely to return to normal life.
RSA Insurance Group, a leading insurance firm in the UK, has indicated that it might be planning to sell the Noraxis Capital Corp, which includes a range of regional insurance brokers in Canada.
According to estimates the company could raise as much as $369 million from the sale of the Canadian business. RSA spokeswoman said a business review is underway and the management will announce its decision on 27 February, 2014. The company has not commented on the reports suggesting that it is planning to sell the Canadian business.
According to a new report, the poor value of annuities is affecting earnings of pensioners in the UK and they are losing thousands of pounds each year.
The Financial Conduct Authority (FCA) said in a new report that annuities market is performing poorly for the savers in the country. The regulator has said that it will launch an investigation into competition in the sector. Annuities are an insurance contract that pays out a set income until death and these are purchased with pension on the person's retirement.
According to the latest figures released, more than 88,000 Illinois residents have selected a private health insurance plan under the new insurance marketplace system during the first four months of the programme.
The enrolment under the new platform is mostly in line with the projections by the federal officials for the state. A federal report released Wednesday stated that 88,602 Illinois residents have selected a plan between 1 October,
2013 and 1 February 2014 under the new system. About 75 percent of those enrolled in the state qualified for tax credits, according to the report.
The shares of RSA Insurance rose significantly after appointment of former Royal Bank of Scotland boss Stephen Hester as its new chief executive.
Mr Hester is joining the insurance major at a time when the company is required to clean up its Irish business. Barclays has also upgraded the shares of the company following the appointment of Mr. Hester as he is expected to revive the business of the company. Simon Lee had stepped down from the top job due to scandal involving the company's unit in Ireland.
New Delhi, Dec 26 : Frequency of health claims is on the rise among the younger age-groups -- six-18 years and 19-25 years, reveals a survey conducted over the last three years by an insurance company.
According to the survey, fever and common infections saw high incidence rates in the national capital region (NCR), rising from 19.5 percent in 2011-2012 to 26.3 percent in 2013-2014 (April-September).
Except Noida, where the trend shows a decline in claims among younger age-groups, areas like Delhi, Faridabad and Gurgaon have recorded a steady rise in health-related ailments.
The US government has extended the deadline for signing up for the health insurance under the new healthcare law.
The Obama administration announced that it will keep accepting applications today for signing up for the new system. The White House officials have said that there was high demand for one day extension of the health insurance.
Panaji (Goa), Dec 5 : The Reliance Life Insurance Company will launch 25 new policies starting January next year and file more products for approval with the regulator, and close the fiscal with a total premium of around Rs. 4,000 crore, a top company official said Thursday.
He said the company would focus on increasing agents' productivity, persistency of its existing policies, launch of new products, and expansion of its new face-to-face channel, among others.
The US government has said that there will be a delay for small firms for enrollment in the newly launched HealthCare. gov insurance scheme.
The government said on Wednesday that small businesses will not be able to enroll in the new health insurance exchanges until November 2014. The online enrolment was expected to begin this month in the country. The Affordable Care Act, which is popularly known as Obamacare, is aimed at avoiding such problems for consumers.
New Delhi, Nov 20 : Max Life Insurance has forayed into e-commerce, launching Max Life Online Term Plan Wednesday, a company statement here said.
The plan is designed to provide comprehensive protection through three different death benefit options -- the tax-free level or increasing monthly income in addition to one-time sum assured and the traditional option of one-time tax-free sum assured.
The plan also offers a "comprehensive accident benefit" rider, which provides added benefits not only for death but also on dismemberment due to an accident.
Anthem Blue Cross of California has said that it will offer a brief extension on polices to some of its customers as the country faces issues relating to terminated health insurance policies.
The company said that it extended the time period of the customers after failed to issue timely notices allowing around 104,000 consumers with expiring policies to continue having their polices until 28 February, 2014. Customers who purchased policies before the March
The shares of Insurance firm, RSA has fallen significantly amid a crisis in Ireland that led to suspension of senior executives.
RSA has suspended three of its senior executives over an investigation into several issues in its claims and finance divisions that cost around £70 million to the group.
Insurance company, RSA has suspended three of its senior executives over an investigation into several issues in its claims and finance divisions that cost around £70 million to the group.
It is the second such profit warning from the company in a week and will add pressure on chief executive, Simon Lee. The company had announced the suspensions yesterday after working hours when most people lad left for the weekend. Experts have said that the shares of the company are expected to fall significantly on Monday morning when the stock market opens.
Insurance giant, Aviva has said that it has recorded a rise of 14 per cent rise in new business to £571million during the nine months of the year.
The company has said that it is on the path of recovery but much work needs to be done. Mark Wilson was brought in Mark Wilson as chief executive to follow a new strategy in order to revive its business. The company has said that its core UK life arm and a jump in French premiums had boosted the overall business. Capital generation was recorded at £1.3 billion.
Mumbai, Nov 6 : Reliance Life Insurance Company said Wednesday it has launched a new initiative to revive lapsed policies for its policy-holders.
The revival initiative allows Reliance Life policy-holders to renew their lapsed policies by simply paying their due premium - without any penalty or medical tests.
Generally, a lapsed policy can only be revived by payment of due premiums along with applicable interest and “declaration of good health” by the policy-holder.
Following a host of issues affecting the launch of the online insurance platform, the US government has announced its decision to extend the deadline for Americans to sign up for coverage next year until March, 2014 from January earlier.
With so much consideration being paid to the vexed introduction of the Obama organization's health protection trades, an alternate elective has generally gone unnoticed: unless you live in Washington, D. C., or Vermont, you can additionally purchase protection outside the trades - by set straightforwardly to protection specialists, executors or organization Web locales.
As a rule, health arrangements adequate January 1, if sold on the trades or off, must agree to the Affordable Care Act.
Chennai, Oct 3 : Non-life insurer Cholamandalam MS General Insurance Company Ltd (Chola MS) plans to earn around Rs. 2,000 crore gross premium this fiscal and has raised Rs. 75 crore additional capital through a rights issue for business growth, the company said Thursday.
"We have grown our business by 20 percent last year. This additional capital infused in our business will be utilised for our business growth and expansion. We hope to achieve around Rs. 2,000 crore gross written premium (GWP) for the current year," said Managing Director S. S. Gopalarathnam.
According to officials, a computer snag is affecting the proposed roll out of Obama's health insurance exchange under the healthcare reform law on 1 October as some key functions might remain inaccessible at the time of its launch in some states.