| Life Insurance From FNB Now Available Online
FNB's long term insurance products have already been welcomed by South Africans as the only life assurance policies that pay back policy holders while they are still alive. And now quotes for those FNB life insurance policies are available online at Finance In Motion. (PRWEB) July 18, 2007 -- Life insurance policies from FNB have already proved extremely popular since they were introduced in February 2006. The main reason is that these innovative long term insurance products give policy holders money back while they are still with us, in essence rewarding them for staying alive. Now, there is another compelling reason to add to the list: prospective life assurance purchasers can get an FNB life insurance quote online within 60 seconds thanks to Finance In Motion (http://www.fim.co.za).
Allianz aims to almost double revenue in growth mkts
FRANKFURT, July 12 (Reuters) - Europe's largest insurer Allianz (ALVG.DE: Quote, Profile, Research) expects to almost double revenue from growth markets to 15 billion euros ($21 billion) in the medium term, its finance chief told analysts on Thursday. The insurer has Russia, China and India in its sights as it seeks to bolster revenue, which now stands at about 8 billion euros. The group overall has revenues of more than 100 billion euros. In Russia, Allianz owns the country's third-biggest player, Rosno, and is in talks with Progress-Garant, a mid-sized non-life insurance company. In China, where U.S. rival AIG (AIG.N: Quote, Profile, Research) has had a strong foothold, Allianz is increasing its number of agents to 4,400 from 1,000 less than two years ago.
Caterpillar sues UAW over retiree lawsuits
BOSTON (Reuters) - Heavy equipment maker Caterpillar Inc. (CAT.N: Quote, Profile, Research) said on Wednesday it sued seven locals of the United Auto Workers union, charging they were violating the terms of their contracts by supporting lawsuits filed by retirees and surviving spouses of former Caterpillar workers that seek lifetime health insurance at no cost. Caterpillar said it filed the suit to ensure that the UAW lives up to the terms of contracts negotiated in 1998 and 2004. "We think it's a breach of contract for the union to support a lawsuit that attacks the very terms the union proposed, negotiated and ratified during the bargaining," said Dan Day, Caterpillar's corporate human resources manager, in a statement. A UAW spokesperson could not be immediately reached for comment.
Insurer Nationale Suisse sells French unit to Axa
ZURICH, July 23 (Reuters) - Nationale Suisse (NATN.S: Quote, Profile, Research) is selling its French subsidiary to France's Axa (AXAF.PA: Quote, Profile, Research), the Swiss insurer said on Monday, as consolidation among Europe's insurers heats up. The sale of the unit -- called Nationale Suisse Assurances SA -- means Nationale is now pulling out of France altogether, after it sold its life insurance unit in 2006. "(The) French subsidiary writes virtually only bulk business and has no prospects of realising a promising niche strategy with good profit potential in the medium term," Nationale said in a statement. No financial details were disclosed for the sale of the unit, which had a premium volume of 101.5 million euros ($140.5 million) in 2006 and a workforce of 125.
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