National Australia Bank, which has seen its $13 billion takeover bid for AXA Asia Pacific Holdings Ltd blocked by the competition regulator, is preparing to sell some assets to appease the government watchdog, two sources said.
NAB, staring at an end of May deadline for its agreement with AXA Asia and its parent AXA SA, is expected to submit a plan in the next 10 days that will outline measures aimed at overcoming the regulatory hurdles.
NAB could still wait for regulatory guidance on the blocked transaction, but Australia’s top lender is in the process of drawing up a divestiture plan to address the competition issues raised by the watchdog.
An NAB spokesman said the company was considering all options.
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In an effort to develop its wealth management arm, Sun Life Financial Inc., a Toronto-based insurance giant, announced Thursday it is established a proprietary mutual fund company in Canada.
The fund family, which will include a proprietary family of Canadian funds, is an effort to bring the investment capabilities of MFS Investment Management, Sun Life’s Boston-based asset management arm, to Canadian retail investors. MFS had over $195 billion of assets under management as of March 31.
“We are expanding our wealth business in Canada by bringing more choices and innovative products to retail investors,” said Kevin Dougherty, president of Sun Life Financial Canada and president of Sun Life Global Investments. “
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A coalition of industry associations is working to scuttle an amendment to financial reform legislation that would strip health insurers of anti-trust protections currently enjoyed under the auspices of the McCarran-Ferguson Act.
In a letter to legislators, the group warned that the amendment authored by Sen. Patrick Leahy (D.-Vt.) would set a bad precedent and pave the way for all insurers losing their exemptions.
“While the amendment targets health insurers, its flawed language and lack of definitions are a bad precedent for repealing the anti-trust exemption for any line of insurance whether it is health, life or property/casualty,” the letter states. “Th
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The selection recognizes Deborah Thornbury’s commitment to excellence in the Insurance industry.
Chattanooga, TN-GA (1888PressRelease) May 15, 2010 – Deborah Thornbury, Systems Project Leader for Unum Corporation, has been selected as an Honored Member of the Biltmore Who’s Who Executive and Professional Registry.
Thornbury, who studied at Tennessee Temple University and the University of Tennessee, and later followed up with a Project Management Professional (PMP) certification in 2006, began working at Unum over fourteen years ago. Full Article…
Pallas GlobalHealth is a premier global medical insurance plan that provides you with the greatest freedom of choices and options.
(1888PressRelease) May 15, 2010 – Greatest Freedom of Personal Choice Policy choices – you can choose from a range of policy options to suit the particular needs of you and your family.
Deductible choices – you can select the annual deductible level you feel most comfortable with. Deductible options are Nil, $500, $1,500 and $5,000.
Live anywhere – your Pallas GlobalHealth plan enables you to relocate and live anywhere in the world. Full Article…
Currency exchange continues to concern many expats with UK Pensions and QROPS. The complexity for Pension and QROPS and investment strategies also needs continued monitoring of exchange rates to optimise returns.
(1888PressRelease) May 15, 2010 – Continuing our daily look at factors affecting currencies allows some insight into market conditions affecting exchange rates. Full Article…
With largely underpenetrated market and growing prospects, the Middle East insurance sector is expected to grow at CAGR of about 25% during 2010-2013.
(1888PressRelease) May 15, 2010 – As per our recent report ?Middle East Insurance Market Forecast to 2012?, the Middle East has emerged as a growing market for insurers across the world with a rapid transformation in its insurance industry. As per our estimations, insurance premium is expected to grow at a rate of 25% during 2010-2013 as compared to a growth rate of 14% in 2007-2009. Saudi Arabia will witness the highest CAGR of 37%, followed by UAE and Bahrain during the forecast period. Full Article…
Bicycles can serve as both a source of fun and a means of transportation. They may also be expensive to replace – meaning that consumers should take the appropriate measures to insure their investment.
In honor of National Bike Month, the Insurance Information Institute offered advice of picking this coverage, which often comes with a renters or homeowners insurance policy. Actual cash value and replacement cost coverage offer varying degrees of protection, with the latter costing slightly more.
It is important to save the receipt from when the bike was purchased, according to the report, in order to determine the amount of coverage necessary.
“Bicycles can cost anywhere from several hundred dollars for a garden variety bike to custom-made options that can cost thousands of dollars,” Jeanne Salvatore, senior vice president and consumer spokesperson for the III, said.
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