(The following statement was released by the rating agency) HONG KONG/SINGAPORE, April 17 (Fitch) Rapid growth in overseas investment by Chinese insurers could lead to rising risks in a number of areas, including asset-liability duration and currency mismatches, asset concentration risks and execution risks from M&A, says Fitch Ratings. Chinese […]
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High piracy attacks push up marine insurance rate
Comfort Oseghale Due to increased piracy attacks in the Niger Delta region of Nigeria, Protection and Indemnity insurers, a maritime insurance association, has raised the rate of war-risk insurance for Nigeria. SUNDAY PUNCH recently reported Nigeria’s classification among high-risk countries in doing international maritime business by the Philippine Overseas Employment […]
Nigeria to host 2016 WAICA AGM, Confab
NIA’s DG, Sunday Thomas The Nigerian Insurance market will host the 38th Annual General Meeting (AGM) and Education Conference of the West African Insurance Companies Association (WAICA), the three day event is billed for April 24 – 26, 2016 at Eko Hotels & Suites, Victoria Island, Lagos. A statement by […]
Teamsters rally in Washington to protest possible pension cuts
Highlights Treasury still must approve proposal from Central States Pension Fund to cut benefits Retirees say cuts are draconian; some say benefits could decline more than 60 percent Pension fund says without cuts, it’ll be out of money in just 10 years Cocoa Holloway-Blankenship isn’t your typical pension rallier […]
Stock market is a rocky foundation for pension funds
Since the beginning of the year I’ve cashed out of two small occupational pension schemes I accumulated earlier in my long career writing about money. Partly this was because of new UK legislation that allowed me to “retire” at 55, and also because I looked at the potential payouts and […]
Houston pension fund sues Internet banker BofI for securities fraud
Houston sued Internet banking company BofI Holding Inc. for securities fraud on Thursday, prompting its shares to sink on allegations it relied on unlawful lending practices and off- balance-sheet entities to boost profits. Nasdaq-traded shares of BofI fell more than 16 percent to $19.31. The stock had rallied more than […]
Brexit bad for UK’s insurance business, say two-thirds of traders at Lloyd’s
68.7% of brokers and insurers believe leaving the EU would “hurt” Lloyd’s of London, a survey shows More than two-thirds of traders at Lloyd’s of London say Brexit would be bad for the UK’s £60 billion-a-year insurance business, according to a report. The survey, commissioned by City PR firm Haggie […]
Players Union to take insurance payout issue to ombud
Tiyani Wa Ka Mabasa PSL and Orlando Pirates chairman Irvin Khoza at the PSL offices in Parktown. File photo Image by: MOEKETSI MOTICOE The South African Football Players Union (SAFPU) will approach the insurance ombudsman to raise and deal with concerns regarding insurance for professional players in the country. This […]
FMDQ partners PenCom on Regulatory Supervision
. Sign Regulatory Supervision Collaboration Agreement As part of efforts geared towards the realisation of its corporate vision and agenda, FMDQ OTC Securities Exchange (“FMDQ” or “the Exchange”) has formalised its partnership with the National Pension Commission (“PenCom” or “the Commission”) through the co-signing of a Regulatory Supervision Collaboration Agreement […]
Pension operators seek bankable projects to enhance investments
Leave a comment and share Chuks Udo Okonta Lack of investment options – Bankable projects – transparency; shortage of data as well as high risk related greenfield investment among others have been identified as clogs to investment of pension funds especially in infrastructure. The Head, Investments, Pensions Alliance limited, Mrs […]
