New York Insurance

It is somewhat strange in the report on the regulation of financial markets, which will be held from March 31 Treasury Secretary Henry Paulson. The plan that has made some major strengthening of federal control on the capital markets and rejected by others as a simple rearrangement of deck chairs on the Titanic financier, includes a section unsuitable for the insurance industry.

While insurance is a financial services provider, it was not included in the center of the implosion of the housing market, or (with the exception of the deposit insurance crisis), in conjunction with the volatility on Wall Street. The Paulson, yet an overwhelming majority the agreement offers a “reform” that the major players in the insurance market, which have at least 15 years, major national airlines to do a piece on the current state of insurance regulators. This institution would be permitted, the adoption of a “charter of the Confederation option,” and therefore themselves, under the supervision of the Confederation, the regulatory authority, which does not yet exist.

Big insurance did not attempt to monitor the Confederation because it wants more regulation. Indeed, what is the pioneer in the industry, outsourcing, while some airlines its official headquarters to tax havens like Bermuda. While many regulatory authorities of state were toothless watchdogs, other states have been aggressive in protecting the interests of policyholders and the public.

In fact, Paulson’s proposal comes just a few weeks after the insurer was celebrated, and the sinking of New York, Eliot Spitzer Gov in a prostitution scandal. During his tenure in New York as Attorney General Spitzer large insurance companies, such as Marsh & McLennan and American International Group for offences such as bid rigging. Marsh ended up for the settlement of $ 850 million in 2005, and AIG pay a colossal $ 1.6 billion for the following year. It is true that Spitzer went to the industry as Attorney General is not as a regulator, he did this in the overall context of the state.

The insurance industry swears that he supported the Optional Federal Charter, in the name of modernization (as well as the report Paulson), but it is significant that the reform has been supported by groups such as the Competitive Enterprise Institute and ‘American Enterprise Institute, who are not friends Du Regulation (some Democrats in Congress are also at the mercy). If word Paulson’s insurance proposal on the weekend, the American Insurance Association rushed in a press release from saying that the federal charter option “is more effective, more efficient and more effective in view of the escalating Tensions’ a state - Basierende Regulations created. ”

Throughout its history, insurance to avoid “tension” when they try to minimize government interference in their affairs. In 1945 the industry supports the McCarran-Ferguson Act, the reaction to a Supreme Court decision affirming the role of regulation in the United States. In recent years, the industry has asked the Confederation opportunity to strengthen surveillance on the assumption that it would be less burdensome. I will let the legal researchers decide whether the state or federal system is inherently more appropriate. The question is whether an industry not known treatment for the generosity of its customers (the victims of Katrina Think of refused coverage), under the strict control of somewhere.

 Each month, Steve Mariski writing a cheque, payable to the health insurance fund GHI HMO, for $ 6366.

The covers herself and her seven employees of small businesses, Mountain Physical Therapy at Monticello, some of them with their families.

Mariski believes in a good health insurance for its employees. It also allows employees to earn good. But it is not easy, and more and more difficult all the time.

“It is increasingly difficult to manage,” he said. “This is our main effort.”

Rising health insurance, the costs are, of course, nothing new.

Even large companies to find ways to pay less - the staff to pay a greater share of the premium for the conversion of health savings plans, most of the burden on workers and dismissal of workers who are not at a healthier lifestyle, such as stopping smoking or smoking to lose weight.

So how the little guy?

A big battle

This is the No. 1 complaint of the Orange County Chamber of Commerce tune with its members coming from the economy.

“Small Business owners do not have as much capital available, making it difficult for young business people,” said Carol Smith, the vice president of the Board of Appeal for the government initiatives and projects.

New York’s small businesses are not alone in their dismay.

Of the approximately 47 million Americans without health insurance, more than 27 million small businesses, their employees and their relatives, the National Federation of Independent Businesses.

Your health premiums 129 percent over the last eight years.

“It hurts,” said Bill Sivillo, owner of Captain’s Club cruises and tours in Middletown.

Sivillo changes in medical insurance plans often try to defend increases in interest rates. In addition, it is on the rise this year, nearly 20 percent.

For now, two of its employees are assurances about their husbands, but Sivillo offers insurance for employees, when they want it.

His own family, by the insurance company. The monthly fee of $ 930

Not enough help

On the state and federal legislators have adopted a variety of programs to reduce expenses, but also for many owners, they do not go far enough, almost.

In terms of the state, the New York response to that the biggest problem is in good health NY. The program helps reduce the insurance costs for both sole proprietors and small businesses with less than 50 employees.

To be eligible, participants must earn 250 percent of the federal budget poverty line. For an individual, that $ 2167 per month for a family with two children, $ 4417 per month gross.

“We try to identify companies with a vulnerability profile,” said Eileen Hayes, insurance supervision power the New York State Insurance Department.

Insurance premiums are, in general, 35 to 40% cheaper than the group average Premium youth to the state of $ 390, said Hayes.

Still, they are strong. In Orange County, they ranged from $ 246 to $ 331 a month, depending on insurers and planning.

Kate Kennedy is grateful for sound NY. The owner Goode & Plenty Home LLC Jeffersonville quadrupled their activities during the past year, but still ended the year in the red penny.

After discussing the various plans, health insurance, she decides on the health NY. Your premium of $ 250 per month.

She needs help to conduct business in the summer, but it can not afford, because costs for workers’ comp and health insurance.

“Where are the small businesses allegedly growing America, we are just hanging out,” she said.

Some of the owner of the store can not be healthy once NY.

“There are no easy solutions,” said Ed Fitzgerald, owner of Carmela’s Pizzeria and Restaurant in Middletown. “Let me be able to health insurance for my colleagues, but I can not do it, and my Open Doors. Imagine that you have three boys working for you, and you are looking for $ 1000, there is no opportunity. ”

Fitzgerald’s gross profits, but also its costs, because of the large balloon drifting oil prices, that the costs for dairy products, wheat and other materials needed to pizza.

If this is not the case for pension insurance plan by the New York City Fire Department, Fitzgerald would even be unable to provide himself and his family.

Even insurance is not enough. Fitzgerald requires a test of his 3500 $ designated cardiologist, after he complained of pain in the chest, but his insurance does not pay, and they are not likely to make to the test its own.

“And my insurance is fine,” he said.

House proposes aid

The Chamber is trying to help the burden of the purchase of group programs for its members, but the premiums are always a big bite.

For an individual, premiums range from $ 311 to $ 431 per month. For families, they begin to $ 904 and go up to $ 1291.

The chamber has been lobbying the New York State Legislature for a few years, the aid organizations.

Just return of members of Small Business Day in the capital, where they called on several initiatives.

They asked delegates not to tax HMOs, HMOs who fear that premiums increase their clients.

In addition, she asked to extend NY healthy so that more companies under the plan and the elimination of the need for a person without health insurance, in the plan.

And she asked a small business tax credit of up to 10 percent of health insurance premiums.

Possible Solutions

National, four American senators Wednesday, the parties legislature set up to try to solve the problem.

Sog. Small Business Health Options programme, a compromise version of 2006, a bill that will allow small businesses to buy insurance pools and offering tax breaks to offset the cost of the insurance premium.

The National Federation of Independent Business and a number of other interest groups supporting the action.

It remains to be seen what will be its fate at the Palais des Congrès.

Sivillo has always among the group of small entrepreneurs in Albany and lobbying in Washington, and it is becoming increasingly frustrated.

“It falls on deaf ears,” he said. “I said, the politicians who pay your insurance? Taxpayers. They write no checks every month, so they lose touch, I think. Gönne I do not offer them insurance, but if you write, publish each month, and if you have noticed, what it costs. ”

At the same time, small business owners are waiting and hoping.

“It is very disheartening,” said Kennedy. “We also work hard, and we have to live, and the largest country in the world, and we can not even health care for human beings.”

Hello, chairman Dodd, a member of classification, Shelby, and the other Committee members. Thank you for giving me the opportunity to present to you today. I am here to support the action of the Federal Reserve Bank of New York in response to the current challenges of financial markets, including those relating to the proposed merger of Bear Steams, and JPMorgan Chase.

On the evening of Thursday, March 13, 2008, I attended a conference call with representatives of the Securities and Exchange Commission, the Board of Governors of the Federal Reserve, and the Department of the Treasury. On this requirement, the SEC has informed the staff that we take note of Bear Steams’ financial resources were insufficient to meet its commitments and society, it was necessary to conclude that protection would have gone bankrupt in the morning. The SEC concluded, and she said this ruling, and he would spend the evening discussing Bear, what kind of declaration of bankruptcy is reasonable.

The conference call was held tonight in the context of an extremely difficult period in the U.S. financial system. This relationship has been of crucial importance to the decisions we have in the coming days. And I think it is important to start with a presentation of the broad guidelines of risk to the economy, the crisis in the financial system now.

The intensity of the crisis that we now have in the United States and world financial markets is a function of the size and nature of the financial boom that has preceded it. It was a time of financial performance for innovation - particularly in the credit risk instruments such as, for example, credit and derivatives and structured products. There have been significant leverage effects on growth, increased dependence of the Credit Ratings in structured products and a sharp deterioration in the underwriting standards.

Innovation in the area of financial services, products has been accompanied by a dramatic increase in the level of financial intermediation outside the Core Banking System. The importance of securities broker-dealers, hedge funds and investment funds in the financial system has made steady progress. Off-Balance-Sheet vehicles of various forms of broadcasting and the increase in concentration over the fortune of values were used in the financing of vehicles, with significant risks of liquidity.

The deterioration in the real estate market in the United States at the end of the lower end of the summer of 2007, a sharp increase in uncertainty about the value of assets or securities structured. The application of these assets and securitization dramatically by contract, the market for mortgages and other loans assets no longer function. This increases the pressure to fund a mixture of various financial institutions. The uncertainty on the extent and the amount of losses for financial institutions filled with concerns about credit risk vis-à-vis exposure to these institutions.

Part of the dynamics in the workplace was that the banks had to, financing or acquisition - assets in a number of investments structured and financed by lines Asset-Backed Commercial Paper. Given that some investors trying their operations in the liquidation of these assets, most of the traditional suppliers of unprecedented funding from the bank withdrew its counter-parties in the hope that the potential gains of the money on their own investors.

Market participants funding of the concept of preparedness guarantees high quality has declined dramatically. Accordingly, the costs of the concept of free financing premature, and has increased the volume shrunk. Banks were on Financing for short periods. In terms of financial markets without deteriorate, the premium of cash, negotiable instruments - such as securities for cash - has increased significantly.

Even with the tragic consequences of the actions of the Federal Reserve and other central banks to liquidity pressure, tension in the financial markets. In many ways far more poor living conditions in February and March. The credit spreads financial institutions increases, share prices fell, and the proper functioning of the market sharply deteriorated. The first part of March, the risk of uncontrolled growth of adaptation.

What we observed were the United States and world financial markets was comparable to the classical model in financial crises. Asset lower prices - triggered by concerns about the prospects for economic performance - has led to a reduction in the willingness to take risks and margin call. In require borrowers to sell assets, debts, some highly leveraged companies were unable to meet their obligations and counter parties launching the liquidation of assets. This has the pressure on asset prices and greater volatility. Merchants higher margins that compensate for the increased volatility and lower liquidity. That, more pressures on other leveraged investors. Increased self-rising spiral of discounts forced auction, lower prices, greater volatility, and even lower prices.

This dynamic raises a number of risks to the effective functioning of the financial system. It reduces the effectiveness of monetary policy, given that the widening of spreads of hazard and has worked to offset the decline in the Fed funds rate. Gion Contamines widespread transmission of distress signals to other markets waves, Subprime on prime-time mortgages, and even agency mortgage securities, Commercial Mortgage-Backed Securities, and corporate bonds and loans. In the current situation, the impact has been in the Common Market, and student loans.

The biggest systemic risk is: If this momentum is intact, the result would be a greater likelihood of insolvency widespread, and the persistence of serious damage to the financial situation, and for the economy as a whole . This is not a theoretical risk, and this is not something that the market can solve its own roster. It runs the risk to extensive damage to economic activity. Absent an aggressive policy of the reaction, the consequences would be for lower-income families to work, an increase in borrowing costs for housing, education and the cost of daily life, the decline in value of the retirement benefits and rising unemployment.

Berkshire Hathaway’s (BRKa.N: Quote, Profile, Research), new borrowing insurer obtained its license to date of Massachusetts, a spokesman for the distribution of insurance in the state, said Thursday.

Berkshire, billionaire investor Warren Buffett, has already acquired a licence, to guarantee municipal bonds in 45 states and the District of Columbia, a group of manufacturers, said Monday.

Buffett in communal services and business insurance bond, the end of last year, at the request of the New York Insurance Superintendent Subprime risked undermining mortgage plays in place of bond.

Buffett was also the Venture as a new opportunity to bet that both investors and issuers are willing to spend more money for the top-rated guarantees of global crisis such as increased credit risk of consciousness.

Bond insurers guarantee repayment of interest and principal, if an issuer defaults in exchange for a fee.

Minnesota, Idaho, New Mexico and North Carolina, the four countries where Berkshire is not yet licensed, according to a list compiled by the National Association of Insurance Commissioners. (Reporting by Anastasija Johnson, Leslie Modification of the eagle)

Supported by Blum, Phil Grummanite Levittown, “says the owner of the insurance premium on his coat has improved a little bit but this year - $ 844 from the previous year to 907 dollars.

But there was a snag: its share for the damage caused by the hurricane. And he is not happy.

“I think, if it is in the action of the threat, it is worth taking the risk,” Blum, 62, said of the industry.

Then there are the 65 years of Hauppauge Dennis Sheridan, a retired computer equipment set-up charge of Hauppauge, reducing the premium to its owner by a reduction in its report: from enough to replace the entire house just enough For a mortgage of $ 125000 outstanding balance. But she told her company would decrease the premium of only $ 80 per year - from $ 1158 is it for this year. “They are not moving,” he said.

The two men, and the other in New York, to pay much more for homeowners and auto insurance, according to some consumer organizations. However, public servants, forecasts that the New York Auto, prices, and higher in the third country, after New Jersey and Washington, DC, there will be this year, after four years of stability relative.

About the only “good” news is that the insurance companies to regulatory authorities estimate owner premiums will be stable this year - an increase in the number of local homeowners on what is said, increases the chances that statistically Long Island is due to the hurricane Of great.

But the Consumer Federation of America, New York, said paying too much for auto and home insurance and within the insurance group from the scene, J. Robert Hunter, the arguments documented in a report by the Consumers Union and the New York Public Interest Research Group.

On average, the study said, the typical American family $ 870 too much in total for the two types of insurance in the last four years, insurance as collected between $ 100 billion and $ 200 billion, which, in the report as “baseless” Premium Quality - Report. The payment amount is higher in New York, where the premiums are usually higher, “said Hunter.

At the same time, he noted that the industry has earned $ 67 billion during the last years of profits. New York State paid about $ 1100 on average during 2005 to ensure that each car - the latest figures available, and she loves low, as it pulled down by falling prices for hinterland by the National Association of Insurance Commissioners. The panel said that the average New York, the owner pays $ 850 per year for their homes in 2005, but that was before Hurricanes Katrina and Rita, the sharp increase in premiums in other coastal regions. As a country, the average premium of $ 767 this year.

But in a letter to Hunter on March 31, Gerald Scattaglia, assistant chief of the National Agency insurance office property department, wrote: “The division continues to monitor profitability, and its full collective will assist the process review to ensure that insurance companies are no longer for the benefit of Long-Term. ”

Insurers, on the other side say, the benefits of prices are low in comparison with other sectors when it is applied over a long period and not a high point in the industry cycle. “The industry is well and far behind other sectors,” said Ellen Melchionni, Vice-Chairman of the New York Insurance Association, a trade group, which is based in Albany.

Because the rates were flat to down since 2003 as a right of the insurer and the implementation cut down on fraud, including staged accidents and false medical or well-padded and damages flight and false reports. Fraud costs the insurance industry an estimated $ 30 billion per year.

Now, state officials said losses are again rising, in part because the fraud appears to be still growing - not unusual when the economy is sour and more people geschnallt for cash.

The Division of Insurance Fraud Bureau reported an increase in recent years in reports on false stolen cars by the owners first damaged or destroyed, to ensure that they are total losses or simply Hand the keys keys to a robber. Insurers must consent of the State to the automatic increase in rates.

Mike Moriarty, Deputy Superintendent of the building, he advises issues of the Section this year, so far, more automobile insurance, the costs for consumers. “We see larger numbers,” he said. “We do not have much of a revision of the rate requests pending, and it may be that the requested changes to the company, but I think one can say with certainty that the trend upwards. “

 Supported by Blum, Phil Grummanite Levittown, “says the owner of the insurance premium on his coat has improved a little bit but this year - $ 844 from the previous year to 907 dollars.

But there was a snag: its share for the damage caused by the hurricane. And he is not happy. “I think, if it is in the action of the threat, it is worth taking the risk,” Blum, 62, said of the industry.

Then there are the 65 years of Hauppauge Dennis Sheridan, a retired hardware responsible for the installation of Hauppauge, reducing the premium to its owner by a reduction in its report: from enough to replace the entire house just enough to the $ 125000 mortgage outstanding balance. But she told her company would decrease the premium of only $ 80 per year - from $ 1158 is it for this year. “They are not moving,” he said.

The two men, and the other in New York, to pay much more for homeowners and auto insurance, according to some consumer organizations. Well, forecasting the state of New York’s self-consultation, the third highest, according to New Jersey and Washington, DC, there will be this year, after four years of relative stability.

About the only “good” news is that the insurance companies to regulatory authorities estimate premiums are homeowners stable, after rising for many local landowners on what is said, increases the chances that statistically Long Island is an important reason for the hurricane.

But the Consumer Federation of America, New York, said paying too much for auto and home insurance and within the insurance group from the scene, J. Robert Hunter, the arguments documented in a report by the Consumers Union and the New York Public Interest Research Group.

On average, the study said, the typical American family $ 870 too much for the two types of insurance in the past four years. The payment amount is higher in New York, where the premiums are usually higher, “said Hunter.

At the same time, he noted that the industry has earned $ 67 billion during the last years of profits.

New York State paid about $ 1100 on average during 2005 to ensure that each car - the latest figures available, and she loves low, as it pulled down by falling prices for hinterland by the National Association of Insurance Commissioners.

The panel said that the average New York, the owner pays $ 850 per year for their homes in 2005, but that was before Hurricanes Katrina and Rita, the sharp increase in premiums in other coastal regions. As a country, the average premium of $ 767 this year.

But in a letter to Hunter on March 31, Gerald Scattaglia, assistant chief of the National Agency insurance office property department, wrote: “The Ministry continues to monitor the profitability …” Insurers say prices are profits low in comparison with other sectors over time.

Because the rates were flat to down since 2003 as a right of the insurer and the implementation cut down on fraud, insurance costs from an estimated $ 30 billion per year. Now, say officials, the losses are again rising, in part because the fraud appears to be still growing - not unusual when the economy goes acid.

Insurers must consent of the State to the automatic increase in rates. Mike Moriarty, Deputy Superintendent of the building, he advises issues of the Section this year, so far, more automobile insurance, the costs for consumers.

“We see larger numbers,” he said.

 Babcock International sees full year in the context of expectations
LONDON, April 1, 2008 (Thomson Financial, Newstex) - Babcock International Group Plc. He said
Considering that its results for the year ended in late March 31, 2008, in accordance with its
Expectations and added that the outlook for the markets is’ attractive ‘.

2008-04-01 09:02:38
United Services Automobile Association’s confirms ratings, Fitch stable –
BANGALORE (Thomson Financial) - Fitch Ratings confirmed, “said United
Services Automobile Association (USAA) assessments with a view stable
Whether its strong competitive position in their market niche extremely loud
Capitalization, its low operating costs of leverage, good liquidity and low-cost –
Operational structure.

2008-04-01 08:56:46
TFN Amsterdam market share of 9.48 hours of data - Unilever (NYSE: UL) is higher
AMSTERDAM (Thomson Financial) - Amsterdam TFN market share of 9.48 hours of data
– Unilever higher
MAJOR INDICES
AEX 443.61 points, 1.18 points or 0.27%
AMX 3.56 points to 629.51 points or 0.57%
The bonds mixed
2008-04-01 08:48:00
Japan’s Nisshin Fire & Marine Insurance upgrade “A +” - S & P
LONDON (Thomson Financial) - Standard & Poor’s (NYSE: MHP) Ratings Services, he said
Increases its financial soundness and long-term Counter-Party Ratings on Nisshin Fire
& Marine Insurance Co Ltd to ‘A +’ and ‘A’ on the basis of progress in the evolution of the company
Consolidation of the Japanese insurance group Millea Holdings Inc

2008-04-01 08:16:20
Governments, central banks discuss drastic measures to combat the Credit Crunch - Report
LONDON (Thomson Financial) - Governments and central banks discussed
“Radicals strategies in the fight against the effects of the global crisis in the credit –
Meeting of the Financial Stability Forum in Rome on Friday, the “Financial Times”
Reporting.

2008-04-01 08:13:41
TFN Greek part time at a Glance
ATHENS (Thomson Financial) - The contract is likely to open slightly lower
On the back of the fragile international mood and will probably try to
The consolidation of almost 4,000 points of the general index.

2008-04-01 08:13:26
Industrivarden NAV 125 kronor per share, from March 31
STOCKHOLM (Thomson Financial) - Industrivarden AB said their net asset value
At March 31 was 125 kronor per share.

2008-04-01 07:57:41
Camper & Nicholsons 14 - 1075 euros
LONDON (Thomson Financial) - Marina Camper & Nicholsons Investments Ltd

An earnings before deduction of 6.31 million for the period October 20, 2006,
December 31, 2007, income and the performance of 10.71 million.

2008-04-01 07:51:08
NAV Livermore Investments provides more than 48 pence per share on December 31
LONDON (Thomson Financial) - Livermore Investments Group Ltd, he said
Considering their Net Asset Value (NAV), December 31, 2007, more than 48 pence per
Part full and their net income for the year is already more than $ 20 million.

2008-04-01 07:35:33
3i said infrastructure firmly on the path to achieve the goals, with the IPO
LONDON (Thomson Financial) - Infrastructure Infrastructure Ltd investors 3i

, He said remains firmly on track to achieve the goals set during their
Initial Public Offering, the assets in their portfolios to generate returns conform
Thanks to expectations.

2008-04-01 07:29:58
Babcock Intl sees the full year, in line with expectations, prospects’ attractive ‘
LONDON (Thomson Financial) - Babcock International Group Plc. He said
Considering that its results for the year ended in late March 31, 2008, in accordance with its
Expectations and added that the outlook for the markets is’ attractive ‘.

2008-04-01 07:23:52
Amsterdam TFN share a look at the prospects
AMSTERDAM (Thomson Financial) - Shares are expected to open flat to slightly
Superior at the rear of the night fresh gains on Wall Street than in the second quarter
Lance.

2008-04-01 07:03:51
Land Securities Appoints New Non-Executive Directors to head up demerged ops
LONDON (Thomson Financial) - Land Securities Group PLC. He said appointd
Three new non-executive directors today, as its plans for the company
At demerge into three separate companies.

2008-04-01 07:00:33
FGIC Ratings cut “Baa3″, as there are more checking levels of Down - Moody’s
MUMBAI (Thomson Financial) - Moody’s Investors Service, he said demoted
The insurance financial strength (IFS) rating of the operational units of FGIC
Corp., including the Financial Guaranty Insurance Co. And FGIC UK Ltd “Baa3″
From “A3″.

 White Plains, NY, 01 April 2008 - (PR.com) - Best Products of “Professional Liability Insurances.

Wm E. Morrell Inc (Morrell Insurance) is now work and through the Internet. They are using the Internet-marketing in order to gain market share with its “best products” Campaign for assurances of certain industrial products. One of its products in a targeted manner Professional Liability Insurance. The company is in favour of the extension, it’s marketing submitted by Westchester Co. New York, for a wider area, the lower part of the New York area. This section includes: Rockland Co. NY, CT Fairfield Co., NY Bronx, New York and northern New Jersey.

They provide health insurance plans with its “best products”, the marketing of professional liability insurance. It measures the insurance plans, not only for companies and professionals, but also for non-for-profit organisations, associations and religious institutions.

Under its “Best Products of” commercial offers, subscriptions: a complete offering for professional liability insurance. This offer has gaps and errors (E & O), Directors and Officers (D & O), Employee Practices Liability (EPLI), mischief and insurance.

As Wm E. Morrell Inc (Morrell Insurance), and brokers known reliably with several insurance companies from which they can customize a business plan for customers to obtain their “best products” business insurance. As they were in the economy since 1908 and in 1913 they launched their “best products” Professional Liability insurance as a “Trusted insurance” by a century of good experience.

The Company believes that if excellent coverage with a competitive price, insurance agent with a century of experience has been proven by the customer, then the priority Morrell insurance is their best choice.

Morrell insurance “Best of broducts” Business Professional liability insurance can be at the following address:

 SHENZHEN, China - Ping An Insurance (Group) Co. ‘S 50% stake in the brand Fortis Investments is mentioned for the first time a Chinese financial institution, half of a global fund to the management company.

It is a general rule, conversely, analysts and other experts said.

The transaction, if the latter, is also a strong testament to the will of the nation, the second life insurer on the road to society is an aggressive offensive third in asset management, analysts and other sources said . Fortis Investments has more than € 245 million ($ 387 billion) in assets under management, about half of which is managed on behalf of institutional clients. Ping An, 475 billion yuan ($ 68 billion) and In-house-assets under management of the company, the annual report 2007.

“This will increasingly in the opposite direction, you see, as a general rule, Western (financial institutions) to buy a stake of China’s asset management companies,” said Donald A . Marchand, a professor of strategy and information management at IMD, a World Business School, which has its headquarters in Lausanne, Switzerland. Mr. Marchand is the co-author of a case study on Ping An, and is compatible with the proposed Deal.

“Well, because the overwhelming feedback (Chinese financial institutions) are able to move these very bold,” says Marchand. “I believe that within five to seven years, some of these players are rewriting the rules of the game”.

Earlier this month, Fortis Investments - The Asset Management Division, a subsidiary of the company based in Brussels, Fortis SA / NV - announced a preliminary agreement on the sale of 50% of a ping to € 2.15 billion. The transaction is a new company called Fortis Investments and Ping An Ping An hand, five seats on a board of 12 people. Senior management and business strategy at Fortis Investments was unchanged.

Fortis CEO Richard Wohanka interviewed be rejected. Melanie Dunn spokesman said in an email response: “Our partnership with Ping An us is unique with rapid access to the growing demand from China and Asian markets. As such, it will be more to ‘multiplier effect of ping well-established brands and distribution skills to the benefit of our customers. Ping An currently has nearly 40 million customers and nearly 2 million customers. ”

“A ping Fortis Investments is obviously happy to exploit this potential in the retail sector, but also institutional client base,” said Dunn.

Ping, a company also denied officials interviewed for this article spokesman about the company Shan Liew Hock.

The move was on the heels of Fortis’ announcement of a write-down before deduction of € 2.4 billion from its Subprime investments in 2007, according to the activity report of the company.

The proposed price for relations with a ping is considerably below the 24 billion € the fare paid by Fortis 33.8% of ABN AMRO, negotiation, before the credit crunch that is in the last summer.

Fortis was part of a consortium, including from the Royal Bank of Scotland Group plc, Edinburgh, Scotland, and Banco Santander Central Hispano SA, Madrid, Spain, has allowed the victory in the War of 2007 against the commandments Barclays PLC, to acquire ABN AMRO Holding NV. Fortis hands, the global network of asset management and Consumer Affairs of the Dutch bank ABN-AMRO units. In the wake of Fortis Investments’ assets under management have increased by 245 billion € 133 billion € over the world. In November 2007, whereby the majority of the shareholders of ABN AMRO, the transaction is approved, Ping An increased felt to € 1.8 billion for the acquisition of a 4.18% participation in Fortis.

Several of ABN AMRO Asset Management is a specialist units - including Monday & Caldwell Inc., Atlanta; Artemis Investment Management Ltd, and Edinburgh International Asset Management in London - to continue to operate separately from Fortis Investments and is not in the transaction with a ping.

Although the price of one ping is relatively low compared to the Fortis / ABN AMRO transaction, analysts question whether perhaps a ping paid too.

“On the basis of provisional information, the price offered is about 17 times or 18 times (commodity prices), the report, what I think, does not seem very attractive in light of current market conditions,” said Xia olive, analyst at Core Pacific - Yamaichi (HK) Ltd, which is based in Shanghai, said Ping An

However, Mrs. Xia, and other analysts Applause ping A bold, in order to facilitate access of Fortis Investments’ Money Management expertise and global reach, which spans more than 30 countries.

“A ping is a pioneer in this area,” said Xia, “no other (financial institutions) as a big step.”

A ping also open to plans for Fortis Investments’ know-how to offer Qualified Domestic Institutional Investor-means by which domestic investors access to markets overseas, “said the adviser. QDII While many funds poorly in the past few months through the volatility of the global markets of shares, analysts expect more and more Chinese investors overseas to diversify their portfolios using the equity in the coming years.

 NEW YORK: MetLife, the first in the United States and life insurers leading provider of social services, is celebrating 140 years of promises about his book and long-term guarantees for millions of customers over several generations.

The company, with more than 70 million customers throughout the world, and operations in the United States and Latin America, Europe and Asia-Pacific region, is kicking off a series of events to mark the 140th Birthday its brand:

 MetLife Chairman of the Board, President and Chief Executive Officer, Rob Henrikson, his team and the executive Snoopy ®, The Closing Bell ® rang at the New York Stock Exchange on March 25.
It is an ancient symbol in Clock Tower One Madison Avenue, New York, was lighted blue MetLife 24 until March 28 March. The tower is as precursors festivals and national events, such as its color palette change important national events and demonstrations.

In honor of 140 years in the city in which it was created, MetLife represents a significant contribution to the parks in New York. The gift is the “Daffodil Project, 140000 flowers daffodil bulbs - the official flower of the city - to plant 1400 hectares in the State of New York City Park and open space. MetLife partnership in the” Daffodil Project “will help to strengthen the efforts of the community volunteers and stresses the commitment of initiatives aimed at improving the quality of life for residents and visitors as well.

“MetLife has the privilege, millions of lives to touch, as the company opened its doors in the bottom of Broadway in 1868, and we are proud to celebrate 140 years,” said Henrikson.