Insurance Industry News
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Indian Prime Minister Manmohan Singh’s latest skirmish with corruption risks setting back efforts to spur growth, worsening a legislative logjam under a government set to pass the fewest bills ever in a full term.
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Property and casualty insurers are voicing concerns that longstanding tax exemptions for municipal bonds could be disrupted as part of a broader U.S. tax-code changes being considered by Congress.
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Munich Re, the world’s biggest reinsurer, said it expects global primary insurance premiums to rise 3 percent this year and 3.5 percent in 2014, driven by higher life sales.
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Almost all the small sport-utility vehicles tested by an insurance industry group fared poorly in a simulation of a deadly type of front-end crash.
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Ebix Inc., a maker of software for the insurance industry, was sued by an investor who contended an $820 million buyout bid by a Goldman Sachs Group Inc. unit is too low.
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Great-West Lifeco Inc., the owner of Putnam Investments, said Chief Executive Officer Allen Loney will retire and that Raymond L. McFeetors will step down as chairman.
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General Electric Co. hired insurance industry investment banker Eric Solash for its global operations group, where he will help infrastructure customers raise financing from sources besides banks.
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Billionaire John Paulson’s Bermuda venture, which positions its owners to avoid taxes on hedge fund earnings by routing money through a reinsurer, sold about 3 percent as much coverage as competitors in its first year.
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Ebix Inc. jumped to its highest price in almost six months and topped a $20-a-share takeover bid from Goldman Sachs Group Inc. that would take the supplier of insurance software and services private.
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New York’s financial regulator is scrutinizing what he called the “troubling role” of private equity firms as they expand into the insurance industry through acquisitions, according to a speech today.
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