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"The recession has had little impacts on contracts due for renewal in July, Munich Re said this week.
The world’s largest reinsurer by premium income said demand for reinsurance policies “continues to be pronounced”, especially for policies that cover natural disasters.
Some sectors will suffer, Munich Re said, as reduced sales of motor insurance, life insurance, and [...]" (2009-6-26)
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"Tesco’s motor and home insurance policies are to be underwritten by Fortis following a partnership agreement between the two firms.
The deal is set to create up to 1,500 UK jobs, with premiums sold by Tesco worth an estimated £500 million per year.
Fortis will replace RBS-owned UKI Partnerships as Tesco’s insurance partner if the deal, currently [...]" (2009-6-26)
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"It’s a rather sad but inevitable part of working in the insurance business that any headline news, whether a hurricane, or train crash, or a celebrity death immediately gets you thinking about the insurance coverage involved and the potential claims that will arise. And so it is with the death yesterday of pop legend Michael [...]" (2009-6-26)
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"Health-care spending in rich countriesAMERICA'S health-care system is the costliest in the world, gobbling up about 16% of the country’s economic output. Comparisons with other rich countries and within the United States show that its system is not only growing at an unsustainable pace, but also provides questionable value for money and dubious medical care. Economists at the OECD found that America does indeed do well on some measures, such as breast-cancer survival rates and cervical-cancer screening, but does worse in others. Infant mortality was 6.7 per 1,000 births in 2007, against an OECD average (excluding Mexico and Turkey) of 4.0. Reforms are being considered to extend coverage for the 49m people with no health insurance, possibly by obliging individuals to buy insurance. ..." (2009-6-26)
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"Novae Group, the specialist insurance and reinsurance carrier, has announced the appointment of John Renz to the post of Human Resources director.
In his new post Renz will be responsible for supervision of operations of Group, syndicate and insurance companies.
He leaves behind the post of HR director with Mourant, a financial services administration and advisory firm, [...]" (2009-6-25)
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"Belgium-based Fortis has emerged as leader of the pack of insurers vying for the contract to manage Tesco’s motor and home insurance businesses.
According to the Telegraph, Fortis is in ‘advanced’ talks to agree an insurance partnership with the UK’s largest retailer.
Tesco admitted earlier this week that it is reviewing its long-standing insurance arrangement with the [...]" (2009-6-25)
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"The financial crisis is the greatest business risk facing the insurance sector in 2009, according to the second annual business risk report from Ernst & Young and Oxford Analytica. It suggests that the consequences of economic events, financial shocks and their aftermath have been so profound that they are likely to shape the industry for [...]" (2009-6-24)
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