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nib holdings has announced a pre tax underwriting profit of $42.7 million for the six months ended 31 December 2011, up from $40.9 million in the first half of the year.
Insurance | February 20th, 2012 | Continue reading »
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The Insurance Council of Australia’s board has approved revisions to the General Insurance Code of Practice, with key changes including clear timeframes for claims handling during declared catastrophes.
Insurance | February 16th, 2012 | Continue reading » 
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Australia’s general insurance sector expects a year of improved profitability in 2012, largely achieved through reduced catastrophe costs and better control of expense ratios, according to an industry survey.
Insurance | February 15th, 2012 | Continue reading »
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Growth in the Asian insurance market witnessed a slowdown in 2011 as regulatory changes stifled local economies. Nevertheless, the sector remains robust and looks set to outperform developed markets.
Insurance | February 15th, 2012 | Continue reading »
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Property rates across all classes of risk rose between 8 per cent and 15 per cent in 2011, according to a recent report from Marsh.
Insurance | February 7th, 2012 | Continue reading »
Americans choke on $1 coin stockpile
The UK newspaper The Telegraph reported recently that a mountain of 1.2 billion dollar coins is sitting unused in US government vaults because the American public is so attached to the traditional dollar bill. The US Mint has been producing vast numbers of the gold-coloured coins after being ordered to do so by Congress in 2005.
American taxpayers could save $500 million (A$524m) a year if they switched from paper dollars, which wear out quickly and must be replaced, to the more durable metal version, according to the US government accountability office.
Yet demand from banks for the coins has been so low that US$1.2 billion worth – which cost US$300 million to manufacture – are sitting in storage, an investigation by National Public Radio found.
According to The Telegraph, opinion polls show that three-quarters of the American public say they would prefer to carry on using the paper dollar bill, affectionately known as the “greenback”, which celebrates its 150th birthday next year.
Comment: AB+F Blog
Two early for reform celebration: The one-year anniversary of the Dodd-Frank Wall Street Reform and Consumer Protection Act passing into law rolled quietly by last month... [more]
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