The credits: The United States and the insurance company executives income big drop

The loan-to-affected by the crisis, the major U.S. insurance company chief executive officer last year's sharp drop in personal income. The Standard & Poor's index companies, 20 insurance companies have been 12 reports of the CEO in 2007 to reduce the salaries and bonuses. These companies generally believe that the Board of Trustees, CEO for the whole industry should be as high as 38 billion U.S. dollars last year, the loss of charge, so the latter have cut wages, bonuses, an average drop of 20 percent.

Japan's largest life insurance companies, "the Japanese life insurance" on the 15th that the company will Syrian insurance market in 2007 reached

According to the Syrian Insurance Commission statistics, in 2007 the Syrian insurance market funds amounted to 193 million U.S. dollars, an increase of 25 percent. At present, the reclassification of the major insurance companies, including a state-owned insurance companies - the Syrian insurance companies (SIC) and in 2006 incorporated the eight private companies, including insurance companies Syrian market funds amounted to 115 million U.S. dollars, accounting for 59.5 percent market share, other Eight companies for the state insurance companies accounted for 9.7%, Syria and Kuwait insurance companies accounted for 7.8 percent, the insurance companies accounted for 7.5 percent, the Syrian Arab Insurance Company of 5.66%, Arope insurance companies accounted for 4.48 percent, 2.22 percent of the Saudi insurance company, the Arab Oriental Insurance Company of 1.56%, 1.58% of the insurance trust.

Japan's largest life insurance companies to the U.S. financial markets Chaodi

Japan's largest life insurance companies, "the Japanese life insurance" on the 15th that the company will expand the U.S. stock and real estate-related financial products investment, plans to invest five years from the end of March the size of about 370 billion yen (about 3.7 billion U.S. dollars ) To expand to about 800 billion yen (about 8 billion U.S. dollars).

By the United States, loan-to-crisis, the United States and the European financial market prices dropped sharply. However, the Japanese life insurance that the U.S. economy has good long-term growth, are welcome at this stage "investment opportunities."

Japan's life insurance, investment, including the United States to stocks, investment funds, hedge funds, asset-backed securities such as receipts of financial products, reputable mortgage-related financial products is also considered within the framework of investment.

Thailand, the Ministry of Finance by the end of April to the insurance industry to sell 30 bonds

According to Thailand, "World Journal" reported on April 17, the Thai Ministry of Finance prepared the end of this month, to the insurance industry to sell the first batch of a 30-year bonds, the initial interest rate is not finalized less than 5%. The bonds secured by the Thai Ministry of Finance, zero risk and reasonable return, the forecast will be sold out in a short period of time.

Thai public debt management unit of the Office of Foreign Loan Office for Pottinger and music, Life and the insurance industry to position products, interested in buying the Ministry of Finance issued 30 bonds, the insurance industry to increase investment channels. The Thai government will use these funds for investment MRT project, and official large-scale infrastructure projects.

Thailand, the Ministry of Finance disclosed that the study of the current market interest rates, the initial decision of the bonds will be located in the rate of more than 5 percent, to lock the insurance industry. In the end of this month issued a first public debt, and in June this year to re-introduce the first two, for 2.5 billion baht, the total will reach 50 billion baht.

Muang Thai Life Insurance Company Deputy Managing Director Pajinina said that the Thai Ministry of Finance in particular to the insurance industry to sell a 30-year bonds, in line with the company for low-risk, and can hold 20 to 30 years the demand for securities. Stressed that as long as 30 years of investment securities, in addition to risks, the return on investment is equally important. Thailand has never issued a 30-year bond, investors worried that the rate of return is not high, cost-investment.

Ji Nina, the first one issued bonds only 2.5 billion baht, with nearly 1 trillion of funds of the insurance industry, very small amount of underwriting. If the Ministry of Finance announced at more than 5%, Muang Thai Life Insurance will be happy to buy. The future of such long-term increase in the issuance of bonds, will help stimulate the domestic bond market growth to the type of savings to purchase life insurance in China is still not widespread.

Fei Nansha Life Insurance Managing Director of warm mentioned that the insurance industry funding of up to 8,000 billion baht, and annual increase of more than 100 billion baht. If the Thai Ministry of Finance launched the long-term return on bonds ideal circulation to meet market demand, will consider investment, the risk of these bonds is equal to zero.

Thai Insurance (TIC) marketing manager for the bank said that the Ministry of Finance to insurance companies to sell long-term bonds, the insurance industry will help increase investment channels, to the insurance industry to develop new long-term insurance products.

Aon: the United States and Europe again in the premium rate will decline in

According to the United States Aon insurance broker Aon company's global reinsurance company analysis report is expected in the middle of this year's renewal period, property catastrophe reinsurance plan rates will benefit British insurance companies.

The company said that this year on January 1 so that reinsurance pricing, terms and conditions of weak fundamental factors is expected in the upcoming renewal of the summer still in effect.

The analysis, the Nordic re-insurance rates likely to remain at a relatively low level, or up to 10 percent decline, while Southern Europe will further premium rate next renewal quarter dropped 5% to 15%. U.S. integrated commercial insurance premium rates will drop to 10% -15%.

Taking into account the property / casualty reinsurance market in the capital, from the current level of pricing, global Aon reinsurance company estimates that a 30 billion U.S. dollars -500 billion dollars in property loss can reverse this catastrophe rates, terms and conditions of the Development direction.

AIU Insurance launched the media industry professional liability insurance

In the media industry today that the risk of vacancy, AIU Insurance Company before the Chinese media practitioners to design a set of risk management programme - "the media industry professional liability insurance." It can protect the media in the course of their work in the media because of negligence, negligence claims to be and should bear civil liability and the corresponding defence costs.

Specifically including unintentional violations of honour, privacy, copyrights, false statements, document losses, compensation and other witnesses to testify in court. Even in the absence of other claims based on facts and circumstances, the media industry professional liability insurance can compensate for the defence of the media.

In the past no insurance protection, the face of claims, the media can only silently bear. Now, the media industry professional liability insurance for the media not only provides a way to transfer risk, but the claim, the insurance company will help the media and defence, to help the media in the fierce competition in shaping a more professional image, professional and specialized On the road went even further.

British mayor accused of defrauding grants lost work Pianbao

British Xiwei Wales Pembroke Mayor Ji Simai Keni Fu physically frail, has been sick for grants. However Zhuanyan Jian He also dynamic in football as magistrate. Maikenifu on suspicion of defrauding grant a lawsuit, therefore lost work.

Dynamic arena

The 49-year-old Maikenifu a month ago, or the mayor of Pembroke. Prior to that, he has been sick for the highest level of grants. In accordance with the principle of subsidy payments, which means that Maikenifu unable to walk or extreme physical discomfort, need 24-hour nursing care. But in the past two seasons, but Maikenifu for 67 football games as magistrate.

Although the body "was" unable to work, Maikenifu has passed the qualifying examination soccer referee. Very strict requirements of the examination, testing, within 12 minutes to finish the 2,400 meters, sprint time to run through. Maikenifu good results, he ran 200 meters, with less than 32 seconds, running 50 metres only less than eight seconds.

Maikenifu in a section of the health status of local employment and pensions department investigators in March last year filming the secret video to be confirmed. Video shows that the Maikenifu as an assistant referee on the pitch lines running back and forth, quick action.

Directed the "high-intensity exercise"

Video exposure, Maikenifu charged in July 2005 to May 2007 illegal for nearly 9,233 pounds (about 18,466 U.S. dollars) grant. Faced with allegations Maikenifu forced to resign as mayor of their duties.

In March this year, the court trial, Maikenifu denied the charges against him. He said he is under doctor's advice to "high-intensity exercise", began in spare time as football referees.

Xiaoenbaier Maikenifu defence lawyers cited a court statement said that Maikenifu the body was indeed very bad. He received with thyroid surgery, stomach surgery, also put up with long-term back pain, so doctors advised him to 200 minutes per week to help train the cardiovascular system. Bayer said that the matter came to light when Maikenifu are waiting for referral, and the intention of referral after his health condition progress inform the relevant departments. But not enough time to do so, the video was exposed.

"Grant fraud is a crime"

Although Maikenifu strongly to defend themselves, but on the 21st of the trial in recognition of his or receiving illegal subsidies. If convicted, he could face imprisonment for disaster.

"At this stage he was sentenced to imprisonment for not rule out the possibility." Presided over the trial the same day the magistrates Elizabeth Jowett said. This case was postponed to May 19 retrial, Maikenifu now been released on bail.

A Department of Employment and pensions spokesman said: "What excuse not used to cheat the grant is a crime. The public on this matter very seriously, the money could have been invested hospitals or schools."

British insurance companies who wish to make a fat tax on obesity

The increase in obesity in the United Kingdom has become a common phenomenon. To address this issue, some of the British insurance company recently decided to levy the start of obesity "fat tax", the amount of up to half of the premium.

According to British media reports, Britain's largest insurance companies-law said, there are currently 13 percent of new customers need to pay premiums facing the situation, because the company intends to body mass index (BMI) of 30 who raised insurance costs.

The company, a management said: "Most people do not understand the laws of diet and lack of exercise will cause health problems, but many people may not realize that weight will make their insurance costs more expensive. Although the BMI index is not Some very scientific, but we found that it is weighing whether show people the best way. "

In addition, other insurance companies have also said that fat people will be more charges. Britain's second-largest insurance company Norwich joint company said that once the BMI index, 35, the premium will begin to increase. Britain's third-largest insurance company Friends-insurance companies will be the "threshold" as a BMI index of 33 people.

Against obesity problem, some local insurance companies have introduced incentives. Last September, the British insurance giant Po-company introduced the new policy, customers started to provide free gym membership, and for those who insist on at least a week to twice a gym customers premium disc

Insurer Aviva in the first quarter sales rose 2 percent

[Reuters] British insurer Aviva in the first quarter sales rose 2 percent to 9.4 billion pounds, U.S. and Asian markets benefited from the outstanding performance.


Comprehensive foreign April 25, the British insurer Aviva Group (Aviva plc) 25, said 08 of its first-quarter global sales growth of 2 percent year-on-year to 9.4 billion pounds, of which life insurance and pension sales growth year-on-year 5 percent to 8.17 billion pounds.


The company said sales growth benefited mainly from the United States and the Asia-Pacific region's strong sales growth, while British life insurance and pension sales fell 3 percent year-on-year to 2.77 billion pounds.


Aviva said that the current economic situation is expected to make the first half of the market has contracted, but its firm belief that sales will rebound in the second half.

Buffett to consider the purchase of RBS Insurance Business

The United States "shares God," said the Buffett on the 4th, its control of the Berkshire Hathaway investment company will consider the Royal Bank of Scotland (RBS) of the insurance business, and has negotiated the acquisition close to a British medium -Company.

Since the purchase of Dutch bank spent large amounts of funds, Royal Bank of Scotland in the credit crunch. The bank in April said it is considering selling its Direct Line and Churchill, and other insurance business. Royal Bank of Scotland chief executive Goodwin said the bank plans to sell the entire business, or the sale of the business part of the shares, but does not intend to be split into several independent brand business. Analysts expect the Royal Bank of Scotland business value of 5-8 billion pounds.

But Buffett remind investors that the U.S. housing market weakness have not yet ended, this year's revenue is not expected to be optimistic.

Swiss Re net income down 53 percent year-on-year

Yesterday, the reinsurer Swiss Re announced that 2008 first-quarter results, the impact of the credit, Swiss Re first-quarter net income of 624 million Swiss francs, less than 53 percent over the same period last year.

Swiss Re analysis, net income was reduced by the United States, loan-to-crisis. The remaining key indicators also reflect varying degrees of the loan-to-pressure: Swiss Re earnings per share than the same period last year reduced 52 percent, to 1.84 Swiss francs; annual rate of return of equity of 8.5% in 2007, the first quarter of the annual income of equity Rate of 17.1 percent.

At the same time, the depreciation of the dollar against the Swiss franc, according to market value adjustments on the investment portfolio have an impact, and continue to repurchase shares, equity fell to 27.8 billion Swiss francs, and December 31, 2007 compared to a decrease of 13 percent. In addition, property insurance and life insurance have declined. Property and accident insurance operating earnings of 1.3 billion Swiss francs, than the first quarter of 2007 decreased by 6 percent, and the first quarter of 2007 compared to comprehensive payment rate increased 3.1 percentage points to 96.9 percent; life and health operations Income was 449 million Swiss francs, down by 45%.

Buffett joined the list of buyers Bank of Scotland escalation of the battle for insurance

"God Unit" Warren Buffett (Warren Buffett) to join the sudden, Royal Bank of Scotland (Royal Bank Of Scotland Group Plc, RBS) more popular.

U.S. time on May 4, Buffett to attend its control of Berkshire Hathaway (Berkshire Hathaway Inc.) Annual general meeting of shareholders, announced that he would consider investing Royal Bank of Scotland's insurance business.

Buffett became the latest of a Royal Bank of Scotland business potential bidders. Earlier, the British "Independent" (The Independent) quoted a source close to the line of people said at least 15 companies have said that the Royal Bank of Scotland interest in the insurance business, of which there are a number of Asian buyers, such as the Bank of China (Love Unit , Quotes, information) (601988. SH, 3988.HK).

So Buffett goods

Buffett's choice this time, when Royal Bank of Scotland urgent need to increase core capital.

Last October, Royal Bank of Scotland to a consortium led by 71 billion euros to beat the price of Barclays Bank, the successful acquisition of ABN AMRO Bank (ABN) of the investment banking business, which mainly paid in cash cost.

Facts have proved that this is not a cost-effective trading. Since the acquisition Dutch bank spent large amounts of funds, Royal Bank of Scotland ensuing credit crunch crisis. As at the end of 2007, the bank's core capital adequacy ratio level has dropped to 4.5 percent, close to 4 per cent of the British banking statutory bottom line.

April 22, Royal Bank of Scotland announced a total 12 billion pounds (about 24 billion U.S. dollars) plan, the funds raised will be used to increase the share capital, core capital adequacy ratio, the bank also announced a 5.9 billion pounds of losses Write-down, one third of which stems from the acquisition of the Dutch bank's capital.

Royal Bank of Scotland chief executive Sir Fred Goodwin (Fred Goodwin) 22 said on the bank also plans to sell the entire business, or sell some of these shares, but does not intend to be split into several independent Brand business.

"We do not make this decision lightly. All along, the (insurance) to us, is a member of the family, but now, this business more than we should have the right owner." Fred ancient Sir Edwin said.

At present, Royal Bank of Scotland's insurance business has two major brand direct online (Direct Line) and the Churchill Insurance Group (Churchill Insurance), and some other non-core business assets, Royal Bank of Scotland has become Britain's second-largest general insurer and the largest Car insurance companies. Analysts estimated the part of the business value of 5-8 billion pounds.

As of May 6, American International Group has been (AIG), Allianz of Germany (Allianz), AXA of France (Axa), Italy Zhong Lee (Generali), Zurich Financial Services Group (Zurich Financial Services AG), and other insurance giants this A transaction that intention, the United States well-known private equity capital in Texas Pacific (love stocks, market, information) Group (Texas Pacific Group, TPG) also expressed interested in buying the entire business, while Buffett's accession to the list of buyers make more gorgeous.

Buffett said he will not bid for any price. However, the Royal Bank of Scotland, some people do not want to "Chenhuodajie."

"Royal Bank of Scotland declined to be extortion." British "Independent" Royal Bank of Scotland quoted sources as saying. The newspaper reported that the refusal to be lower than 6 billion pounds of Price, the general scope of potential buyers bidding in the 6.5 to 7.5 billion pounds between.

Bank of China to fight »

But some analysts warned that the Royal Bank of Scotland hope that the insurance business may be sold at high prices will scare off some potential buyers.

"This is indeed a great opportunity, the assets of Royal Bank of Scotland will attract considerable attention." U.S. investment bank Keefe, Bruyette & Woods (KBW) in the latest in a briefing said, "but can not change the fact that the United Kingdom Retail automotive industry because of policy restrictions have been no growth, in addition Royal Bank of Scotland insurance sector is already the biggest business insurers, and that the retail automotive industry has become Europe's largest bulk commercialization (pejorative, is used to refer to those who manufacture Profit margins are low and no pricing power products) one of the fields. "

For the industry widely rumored that the Royal Bank of Scotland Asian buyers, the British media will be focused for the Bank of China (601988. SH; 03988.HK), but the Bank of China spokesman denied the rumors.

British Sunday Telegraph newspaper (Sunday Telegraph) reported that the Bank of China to open up overseas insurance market, intends to purchase parts or even all of Royal Bank of Scotland in the British insurance business.

First quarter net profit halved, Swiss Re insurance sale of flats to raise money

Zurich time on May 6, Swiss Re (referred to as "the Swiss again") released a report of the first quarter of 2008, said the first quarter of the net proceeds of 624 million Swiss francs, up 53 percent reduction; earnings per share fell 52 percent, to 1.84 Swiss francs; net investment losses -4 billion Swiss francs, while profit in 2007 compared to 800 million Swiss francs.

Rui again that the devaluation of the dollar against the Swiss franc, according to market value adjustments on the investment portfolio have an impact, and continue to repurchase shares, equity fell to 27.8 billion Swiss francs, and December 31, 2007 compared to a decrease of 13 percent. In the equity yield of 8.5 per cent, while in the first quarter of 2007 of the equity yield of 17.1 percent, down still more than half.

As at end of the first quarter, the Swiss to repurchase up to 3.26 billion Swiss francs of shares, has completed a total of 7.75 billion Swiss francs share buyback target of 43%, book value per share fell 9 percent, to 83.26 Swiss francs. The report said, net income decrease is attributable to the continued financial market turmoil, and from November 2007 structural credit default swaps the additional loss (at current market prices adjusted) due to 819 million Swiss francs.

Rui further said that financial markets business has brought 1.4 billion Swiss francs in operating earnings. And the loss of 819 million Swiss francs is being liquidated, the Group current and future will continue to be subject to fluctuations in the value of the securities market, it is estimated that in April there will be further loss of 200 million Swiss francs. Remove structural credit default swaps market value arising from the adjustment of losses, the annual investment rate of return of 5.8 percent, compared with the same period last year increased by 0.4 percentage points.

Quarterly Bulletin, Switzerland to the first quarter of the life and health operating earnings of 449 million Swiss francs, with exceptionally strong first quarter of 2007 compared to a decrease of 45 percent. But the Swiss to the long-term rapid growth in life insurance and variable annuity products such as the development of new businesses are optimistic about the potential and optimistic about its medical insurance business in Asia, especially India and China market.

Property and accident insurance, the Swiss were recorded in the first quarter to 1.3 billion Swiss francs in operating earnings than the first quarter of 2007 decreased 6 percent, an integrated payment rate by 3.1 percentage point increase of 96.9 percent. Swiss again, mainly due to higher human losses and lower revenue premiums of the Property & Casualty business affected.

However, early in 2008 to face the Swiss property insurance and accident insurance market environment there are still challenges.

January renewal quarter of this year, the Swiss again almost all property and casualty segment there are signs of weakness. January renewal of the business accounts for the traditional Swiss Re contract portfolio to 69 percent in the entire portfolio in the traditional agreement, the renewal of the premium business dropped by 12 percent, including the slight decrease rate of 3% of total premiums Reduced to 8.8 billion Swiss francs.

According to Rui said, in January 2008, with the Swiss Buffett's Berkshire Hathaway (Berkshire Hathaway) reached a significant percentage of reinsurance agreements, which transfer to the new 20% And renewal by the property insurance and accident insurance business, which can increase the degree of operating leverage. According to the agreement, the latter including reinsurance commissions paid to the Swiss to the long-term acquisition costs and 14 percent of the reinsurance commissions.

Switzerland to the interpretation of this is that the agreement to the Swiss to provide protection and decrease the flexibility of up to allow companies to further improve capital management capabilities. Switzerland is expected to again, based on business cycle changes in the future, the agreement will yield equity and earnings per share ranging from a level of the positive impact.

But a person familiar with the re-insurance, that has made the move, according to origin of the crisis, the Swiss capital Zhaxian further difficulties, "will have to get the hand over of operations to 1 / 5."

It is worth mentioning that the 819 million Swiss francs to compensate for the structural loss of credit default swaps, Swiss re-sold in the quarter in the centre of London's landmark office buildings, the honour of the 268 million Swiss francs capital gains. Even as London's second largest city buildings.

In addition, the Bulletin also show that by the end of 2008 3, Rui further violations of the credit risk (a loss, according to) continue to expose, the method of measuring stress tests, before the hair from the risk of 3.1 billion Swiss francs to reduce the risk of the net 28 Billion Swiss francs.

Swiss CEO Jacques Aigrain again (Jacques Aigrain), said: "Despite the turbulence in financial markets continues, we are still on the profitability of the Group are confident that we have the ability to maximize shareholder returns.'s Capital in good condition, and Insurance-related asset portfolio sound. Despite the challenges, but we have prepared for, will not deviate from our underwriting quality, prudent risk selection, and the realization of economic profit growth in the full focus.

"And Swiss Re to achieve the current earnings per share growth of 10% and return on equity rate of 14% of the objectives remain unchanged." Aigrain said.

The world's largest insurance company American International Group, the first quarter of huge losses

The world's largest insurance company American International Group (AIG) 8 published report said that due to credit default swaps and the loan-to-business losses, the first quarter of this year the group loss of 7.81 billion U.S. dollars. After the earnings release, AIG shares in the New York stock market fell in after-hours trading, its stock rating agency Fitch lowered, and so on.

The first quarter, AIG loss equivalent to 3.09 U.S. dollars per share, a year earlier to 1.58 U.S. dollars per share (a total profit of 4.13 billion U.S. dollars), analysts expected a loss per share of 76 cents a share. And many other financial services companies, like, AIG in the credit crisis has been severe impact, in the fourth quarter of the group were over 11 billion U.S. dollars of assets write-down.

First quarter of this year, AIG Credit default swaps in the loss reached 9.11 billion U.S. dollars; investment for the loss of 6.09 billion U.S. dollars, mostly from mortgage-backed securities losses mortgage insurance losses 352 million U.S. dollars.

Quarter of the group insurance business with the same period last year on the whole balanced, the premium income of 12.08 billion U.S. dollars, comprehensive cost rate from 87.52 percent a year earlier rose to 96.86 percent. Comprehensive cost for the claimed amount and rate of expenditure and the total premium ratio, a measure of insurance profitability of an insurance company the most commonly used indicator, the indicator is less than or equal to 100% of that business is profitable.

08 insurance market in the first quarter of Latvia up 29%

Baltic Business Weekly reported on May 7, according to Latvia "Financial and Capital Market Commission" to statistics, by the end of 2007, a total of four life insurance companies, 11 non-life insurance companies and seven foreign insurance companies in the branch Latvia operators.

In 2008 a quarter of these insurance companies underwriting a total of 98.369 million lats premiums, an increase of 29 percent. One Life insurance and non-life insurance amounted to 46.733 million lats, up 62.8 percent.

American International Group, first quarter operating loss of credit default losses

The world's largest insurance company American International Group (AIG) 8 published report said that due to credit default swaps and the loan-to-business losses, the first quarter of this year the group loss of 7.81 billion U.S. dollars.

After the earnings release, AIG shares in the New York stock market fell in after-hours trading, its stock rating agency Fitch lowered, and so on.

The first quarter, AIG loss equivalent to 3.09 U.S. dollars per share, a year earlier to 1.58 U.S. dollars per share (a total profit of 4.13 billion U.S. dollars), analysts expected a loss per share of 76 cents a share.

And many other financial services companies, like, AIG in the credit crisis has been severe impact, in the fourth quarter of the group were over 11 billion U.S. dollars of assets write-down.

First quarter of this year, AIG Credit default swaps in the loss reached 9.11 billion U.S. dollars; investment for the loss of 6.09 billion U.S. dollars, mostly from mortgage-backed securities losses mortgage insurance losses 352 million U.S. dollars.

AIG to 7.8 billion U.S. dollars deficit

May 8 (U.S. time), the world's largest insurance company American International Group (AIG) released 2008 first quarter financial report, the credit default swaps and the loan-to-business losses, AIG quarter loss of 7.81 billion U.S. dollars, per share Loss of 3.09 U.S. dollars, while its net profit for the year earlier 4.13 billion U.S. dollars, 1.58 U.S. dollars per share net profit. Earlier, analysts expected a loss per share of 76 cents a share. AIG is the second consecutive quarter of a loss, on the first quarter of AIG's loss of 5.29 billion U.S. dollars.

After the earnings release, AIG shares in the New York stock market fell 7 percent after-hours trading, its stock rating agency Fitch lowered, and so many. The Standard & Poor's debt rating to AIG from "AA" to "AA-", the reasons for its losses in the level than expected.

And many other financial services companies, like, AIG in the credit crisis has been severe impact, in the fourth quarter of the group were over 11 billion U.S. dollars of assets write-down.

First quarter of this year, AIG Credit default swaps in the loss reached 9.11 billion U.S. dollars; investment for the loss of 6.09 billion U.S. dollars, mostly from mortgage-backed securities losses, mortgage insurance losses 352 million U.S. dollars.

Quarterly Bulletin, the first quarter of 2008 AIG general insurance business with the same period last year unchanged, the premium income of 12.08 billion U.S. dollars, comprehensive cost rate from 87.52 percent a year earlier rose to 96.86 percent. It is understood that the comprehensive cost of an insurance company as a measure of insurance profitability of the most commonly used indicator is the amount and cost of claims and the total premium ratio, the indicator is less than or equal to 100% of that business is profitable.

On that day, AIG also announced that the planned capital increase of 12.5 billion U.S. dollars plan.

AIG spokesman Chris Winans said the company adopted a to the issue of new shares, stock-related securities and fixed income securities to finance the planned 12.5 billion U.S. dollars. Including plans to sell 7.5 billion U.S. dollars in stock and equity units issued and the value of 5 billion U.S. dollars of fixed-income securities.

AIG has been listed in 1969, there were never two consecutive quarters of losses.

Analysts said, AIG CEO Martin Sullivan (Martin Sullivan) the prospect of imminent danger, unless he can stop the secondary mortgage-related losses, AIG shares reverse the 12 months since the fall. December last year, he said the city can make up for the impairment of assets, and in February this year, AIG said it changed the city can not make up for the possible impairment of assets.

Buffett Catastrophe Insurance profit and loss table

At 14:28 on May 12, China 40 Chuan Wenchuan 7.8 earthquake occurred. Information, as early as 2002, Liu Yonghao's hope that the new Huarong Chemical Co., Ltd. became the first in western China earthquake insurance policyholders. Huarong Chemical is new hope and the IFC (International Finance Corporation) joint venture between the major chemical companies. Catastrophe insurance for insurance companies operating in various sectors affected immediately aroused the concern.

Worked for a foreign re-insurance industry, a senior actuary to this reporter that "as more than three deaths such as earthquakes, if the majority of loss is also borne by the reinsurance companies. Therefore, the real losses, should be our ( It refers to in the reinsurance industry). "He explained that more than a certain amount claimed by the insurance companies are the business of reinsurance companies were re-insurance, in particular, this may cause huge losses of earthquake risk.

Buffett shares God's Bajun that there are two well-known reinsurers Bajun GEICO and reinsurance reinsurance. 2008 Bajun first-quarter earnings from a year earlier sharp decline in the incident, leading to Bajun large-scale reduction of business profits, is the reinsurance business.

Bajun said in the earnings, because in the past few years, the frequency of accidents occurred relatively low historical levels, thus Bajun investors to enjoy more benefits, but this year should no longer look forward to do the same.

The actuary said: reinsurance companies will also be prepared. Every year, the reinsurance industry to the insurance premium income in the future as the most likely to pay the amount of reserves up. So now the basic payment of the amount of the reserve is only a few years ago. "10 years, several decades before a serious accident occurred, the reinsurance companies is not too great a burden."

Not only can increase the reserve to cope with catastrophe insurance companies the ability of investment income is also a major guarantee for the company an important guarantee of efficiency.

An investment analyst to this: "Buffett operating insurance companies and reinsurance companies on the fundamental purpose is not to make money in the insurance industry, but taken from these two sectors of the capital."

The analyst explained that while the 2007 acquisition of British Bajun Lloyd - TSB Group's insurance company Equitas move. At that time, Equitas announced, in 1988-92, and due to series of natural disasters and the impact of huge asbestos claims, the group loss of up to 8 billion pounds, according to the situation at that time to continue to develop, Equitas collapse sooner or later the problem. Bajun invested 7 billion U.S. dollars to save Equitas, was also caused many people to speculate.

In 2007 the annual report of the Bajun, we see that the Bajun acquisition of Equitas in the quarter, had recorded 7.1 billion U.S. dollars of disposable income. Thus, according to analysts understanding of the foregoing, the Bajun the acquisition of Equitas, and in fact no real funding, but the premium income of more reserve funds.

In fact, when the Chinese economy as the beginning of the snowstorm and the recent earthquake accident distress, Bajun also encountered the same problem. Bajun 2008 first-quarter earnings of "liability insurance underwriting" of income for the quarter of 22.27 billion U.S. dollars over 2007's 28.3 billion U.S. dollars over the same period a decrease of 6.03 billion U.S. dollars or 21.3 percent. Among them, Bajun reinsurance group pre-tax profit was 29 million U.S. dollars, over the same period in 2007 was 553 million U.S. dollars to 5.2%; another reinsurance companies - GEICO's liability insurance underwriting business only 186 million U.S. dollars were recorded in the pre-tax profits, up Over the same period last year, a decrease of 110 million U.S. dollars. Bajun in the Bulletin of the early warning investors, the insurance business in 2008 profit would be likely than in 2007 substantially reduced.

And the relative decline in income and profits should be that Buffett in 2008, a substantial increase in the amount of investment. According to the Quarterly Bulletin, Bajun, Bajun the total amount of investment for 13.3 billion U.S. dollars, far higher than the same period last year 2.7 billion U.S. dollars, and in 2007 the year of 13.4 billion U.S. dollars is almost the same. Of these, about 10.5 billion U.S. dollars in investment before decreased relatively high fixed rate maturity securities (fixed maturity securities), including the Federal Housing Loan Bank (Federal Home Loan Bank) bonds and a number of local government bonds, and so also invested 4.8 billion U.S. Yuan, on the acquisition of other companies.

Aimed at export companies intend to enter the United States Chubb Insurance Jiangsu

As the last batch of access to the China Insurance Regulatory Commission "for reform of" the licence of foreign insurance companies Chubb Group of the United States, has accelerated the pace of investment in China. Yesterday, the group of contractors "to enter the U.S. market the key: the importance of product safety and product liability insurance" forum held in Wuxi, Jiangsu revealed its intention to enter the scheme.

When a reporter asked why the seminar will have on many export-oriented foreign-funded enterprises, GDP ranked the forefront of Wuxi, Jiangsu Province, the Chubb Group of Insurance Companies in Northeast Asia president Daiyong Li said that this will be held to in Wuxi, Jiangsu will also do have the next step as the company's business development concerns of the Italian provinces. According to the first quarter of this year, latest statistics show that Jiangsu province's total trade to the country's second largest, accounting for 15.9 percent of total imports and exports, reached 90.57 billion U.S. dollars.

A reporter asked whether the recent Chubb Group of the Chinese subsidiary of replenishment or additional branches of the plan, Daiyong Li has not answered positively, but made it clear that the subsidiary completed the restructuring of the background, the application will be more active To the licence in order to quickly expand business in China.

When it comes to the appreciation of the renminbi, the raw material price hikes and repeated the recall of goods made in China has resulted in China's foreign trade while the impact of the Chubb to expand business in China, Dai Yongli that China's foreign trade, although the decline, However, only the growth rate has slowed down, the added value of China's manufactured goods is on the rise, Chinese enterprises is toward the upper reaches of the industry chain development. He expressed China's economic prospects for great optimism, and the company business in China has great room for growth. He also said that with the domestic consumers increased awareness of IPR protection, product liability lawsuits rate of increase in domestic non-export-oriented enterprises will gradually realize the importance of product liability insurance, and thus the purchase of related insurance products.

Daiyong Li also disclosed to reporters the subsidiary's operations in China to the status quo, "Chubb China's current business is mainly to product liability insurance, including motor liability insurance category accounted for about 25 percent, if the directors and executives Officers liability insurance and sale of liability insurance, liability insurance of more than 50 percent. "When talking about the types of related profits, said Dai Yongli, the best insurance sales is not the highest profit margins.

New Zealand earthquake insurance system: + market

New Zealand Earthquake Commission by the Ministry of Finance set up wholly-owned. At present, the Commission has accumulated nearly 50 billion Singapore dollars of catastrophic risk fund

New Zealand earthquake insurance system known as the world's most successful operation of the existing disaster insurance system one of its main characteristics of the country by law and establishing their own national conditions of the multi-channel catastrophic risk decentralized system, and take government action and market the combination of the road To the extent possible spread catastrophic risk.

New Zealand volcanic earthquakes in the Pacific Rim put, is earthquake-prone countries, the average annual earthquake nearly 3,000 times, the fight against natural disasters have become part of the New Zealand public life. According to the New Zealand Earthquake Commission press officer, in 1942, located in the central part of New Zealand capital Wellington region and the Wairarapa region has suffered a magnitude 7.2 earthquake attacks, causing massive housing construction severely damaged. Many houses in a few years have failed to repair the main reasons is not enough insurance compensation.

In order to learn a lesson from this, the Government of New Zealand in the 1945 war and the establishment of the earthquake damage to the Commission, will later include other natural disasters, war damage and cancellation insurance. At present, earthquake catastrophe risk insurance provided by the insurance coverage, including earthquakes, mountain landslides, volcanic eruptions, tidal waves and geothermal activities, its purpose is to help people in New Zealand as soon as possible after natural disasters and rebuild their return to their homes.

New Zealand's earthquake risk to the system by three components, including the earthquake, insurance companies and insurance associations, belonging to government agencies, commercial organizations and social institutions. Once disasters, earthquakes Committee is responsible for the statutory compensation insurance, housing a maximum liability limit of 10 million New Zealand dollars (about 0.77 U.S. dollars Singapore dollars), the highest-room property liability limits for 20,000 Singapore dollars; insurance companies based on insurance Responsible for the insurance contract exceed the statutory responsibility of the damages and the Insurance Institute is responsible for the launch contingency plans.

New Zealand Earthquake Commission by the Ministry of Finance set up wholly-owned, in withstand catastrophic risk to play a key role. The Committee on January 1, 1994 reorganization, the Government allocated free of charge for 15 billion Singapore dollars. At present, earthquake Committee have accumulated nearly 50 billion Singapore dollars of catastrophic risk fund. The main source of funds is mandatory collection of insurance premiums, and investment funds in the market in the benefits. Housing residents to buy insurance companies or room property insurance, compulsory levy would be catastrophic earthquake insurance and fire insurance premiums. Catastrophic earthquake insurance premiums for each household each year around 60 Singapore dollars from the insurance company took the charge after the earthquake to the Commission. In addition, each household in each of the residents have to pay about 80 Singapore dollars fire insurance premiums.

In addition to catastrophic risk fund, the earthquake also use the international reinsurance market for reinsurance, which spread the risks. When the catastrophic earthquake losses in excess of the capacity to pay, the Government will play a role Tuodi by the Government to pay the remaining claims paid, and each of the earthquake will be paid to the government a certain margin.

New Zealand is the core of catastrophe insurance risk dispersion mechanism. First of all, when the incident occurred after the catastrophe, the first earthquake to pay 200 million Singapore dollars. Secondly, if the earthquake paid 200 million Singapore dollars irreparable loss, then start re-insurance programme.

Reinsurance programme in three layers. The first layer is lost if the 200 million Singapore dollars to 7.5 billion Singapore dollars, and by re-insurers bear the loss of 40 percent, the remaining 60 per cent of the losses from the earthquake to take 200 million Singapore dollars. The second is when the amount of the loss at 7.5 billion Singapore dollars to 20.5 billion Singapore dollars, and then start over-loss insurance underwriting contracts. The third layer is if the loss is more than 2.05 billion Singapore dollars, from catastrophic risk fund to run out; still insufficient, by the Government's commitment to unlimited liability.

Detailed Explanation maximum insured nearly 30% of Japan earthquake insurance Zaizai

"The earthquake insurance companies in the accident will not be subject to the basic clear what impact, mainly because the insured rate was too low." May 14, who declined to be named a senior insurance industry an interview with this reporter and the overthrow of many People on the insurance business may be on the 12th of this month "Wenchuan earthquake" to pay huge compensation payments to understand.

He said that "China's insurance rates have generally not high, and underdeveloped regions, including the western region on the lower insurance rates. Snowstorm at the beginning of the South of the insurance industry to pay a combined 10 Jige Yi, for such a big Events and such a great loss, the compensation rate is really too low. The earthquake is estimated the amount of compensation will not be very high, particularly in the earthquake and property insurance. "

States of earthquake risk insurance

As an effective response means the earthquake disaster relief, earthquake risk in China's insurance rate is very low, and according to the aforementioned insurance people, the international authority Insurance Information Institute (Insurance Information Institute, III) show that the investigation report, the U.S. Geological Survey The most frequent outbreak of the state of California in 2006, when 12 percent of the purchase earthquake insurance, it is the United States to purchase the insurance maximum rate of one of the region.

U.S. local governments for earthquake risk insurance situation is worse than civil. May 12, as earlier this year in Illinois and Missouri, the earthquake caused the government's attention to Iowa, the state plans to promote more cities to join municipal facilities earthquake insurance coverage. At present, only five percent of the state of the city municipal facilities for the earthquake insurance. According to the U.S. National Weather Service (National Weather Service) data, from 1867 to date, 13, is the epicenter of the earthquake took place in Iowa with.

Earthquake accident on the most sensitive countries - Japan, the survey data show that the risk of earthquake insurance rate of 13 percent.

It is interesting that earthquake insurance policy holders and seismic changes in the rate of the time the accident occurred close ties. Take Japan for example, in 1995 before the insured rate was only 3.0 percent, while the year on January 17 in Kobe 7.3 earthquake occurred, causing 6,435 deaths, the insurance rates to rise sharply in 1997 to 27.3 percent, but with With the passage of time, the earthquake risk insurance rates also decreased gradually to the current 13 percent level.

Coincidentally, the U.S. state of California as well. 1994 Los Angeles earthquake, the largest in U.S. history caused by the earthquake caused economic losses, its insurance rates in 1996, the highest close to 30 percent, and then slowly drop to 12 percent now.

"Well scars forget the pain!" Above analysts evaluate the case of this phenomenon.

Japan's earthquake, "Zai Zai insurance"

Japan, the earthquake accident-prone country, the earthquake risk in terms of maturity of one of the highest.

Japan's Disaster Prevention Research Institute under the city called a "Japanese earthquake insurance system and the formation of the problem," the report, Japan in 1966 established the earthquake insurance system and promulgated the earthquake insurance-related legal and accounting in particular earthquake reinsurance bill. In accordance with the system, the various insurance companies in Japan jointly established the Japan Earthquake Reinsurance Co., Ltd., as responsible for earthquake reinsurance business.

Japan's earthquake insurance regulatory provisions very carefully, the object of insurance, payment methods, and the proportion of the premium payment rates, and so are clear. The rate, also depending on the region and the housing structure and even the construction period and different. Its insurance object is defined as: can be compensated for the damage that directly suffered earthquakes, volcanoes, tsunamis and the resulting fire, damage, loss or buried, such as the housing construction and property damage. Extent of damage, including destruction of all, semi-destroyed and damaged part.

It is worth noting that Japan is a rare borne by the Government last earthquake insurance payment responsibility of countries. An earthquake insurance policy, insurance companies sold to the insured, and then sold under the company's earthquake insurance, reinsurance earthquake in Japan Co., Ltd. in full to purchase earthquake insurance (known as "A special contract"), to reduce the insurance company The earthquake insurance risk. Japan's earthquake reinsurance Co., Ltd. will purchase all the insurance companies earthquake reinsurance divided into three parts, one to reverse the general insurance companies to purchase earthquake "Zaizai insurance" (referred to as "B in particular signing"); part of the Government of Japan to buy Earthquake "Zaizai insurance" (known as "C contract"); Finally, as part of their commitment to share reservations (his tenure share). Thus formed by insurance companies, reinsurance companies and the government shared responsibility of the tripartite structure.

China as a developing country, the earthquake risk in the development of relatively late. July 2000, "Additional devastating earthquake insurance clause" by the National Insurance Regulatory Commission approved the establishment. Which provides that the insurance responsibility for the "direct result of devastating earthquake (the State Seismological departments final determination of the magnitude of a magnitude of 4.7 and above and six times more than the intensity of the earthquake) vibration caused by the tsunami or earthquakes, fires, explosions and Landslide caused by the loss of property insurance. " Liu Yonghao hope that the new group holding the Huarong Chemical Co., Ltd. became the first in western China earthquake insurance policyholders.

Raising awareness of urgent need earthquake insurance

The aforementioned insurance said, "We are emotionally affected areas and the masses have expressed sympathy, from another perspective, we also hope that after this incident, the public's attention on the insurance has improved, and in a larger scope and scale The development of our business. "

He said that "from a moral, from the business, the insurance company's compensation must be very active and is very fast, those who are not operating in the western region of foreign companies, can not be compensable, but also by positive contributions to attract people The attention. "

After the second day of the earthquake on the 13th afternoon, the first from China's PICC Property Insurance compensation has been through the PICC Property Insurance branch in Shaanxi sent to the disaster areas. The number of insurance companies also claimed that the claims process, as long as the policy holders to provide names, no insurance policy holders can also receive payment. At the same time, many media companies announced the donation list, there are various insurance companies by name.

As for the insurance companies will not be too great because the amount of compensation or even losses caused by the closure of the issue, a senior industry actuary replied: "Even if the affected areas of the insured rate is high, great loss, according to the insurance industry's operating rules, January 2 The earthquake put the possibility of collapse of insurance companies is very low. Because there are reinsurance support, and then spread the insurance risk of this large-scale disaster. And a good balance between the premium and the amount of compensation, the relationship between what we actuarial The division of work needs to be done. "

Learn from Japan's experience in earthquake relief

At present, how to effectively carry out disaster relief work is before us a very pressing issue. He mountains of stone, jade can attack. Therefore, I think of a narrow strip of water neighbor Japan. Japan the world's most earthquake, felt tremors in each of the approximately 1,000 times, 10 percent of the global earthquake in Japan and its surrounding areas, however, during the post-earthquake relief people can always be calm, be successful post-earthquake casualties , The losses to a minimum. Japan is how to do it »

First of all, and long-term universal awareness of the earthquake disaster relief. Japan has many earthquakes all over the country and the Museum of the earthquake Knowledge Learning Museum, open to the public free of charge. These museums in the earthquake, people were able to personally experience the feeling when the earthquake. With Museum in the simulated scene of the fire and smoke corridor simulated earthquake shook the platform, visitors can experience the earthquake occurred when six of the state. Statutory annual "Disaster Prevention Day" comes, Japan will be held throughout the earthquake disaster prevention drills, to the public on the face of unexpected disaster emergency response, also reminded the public to strengthen a sense of crisis. Perennial outreach, awareness of earthquake relief in Japan enjoys popular support. From familiar with the buildings occupied by the emergency access to the interior layout, personal life, the Japanese special attention to the potential safety problems, escape routes remain open.

This was followed by the sound of the earthquake disaster monitoring system. Japan in some waters 2,000 meters underwater to install a monitoring system, through the monitoring of vessels at sea will be launched into the relevant information on satellites, and then using the global positioning system to closely monitor the movement of the continental shelf plate. In addition, the Government of Japan has also developed the "earthquake hit early evaluation system," saved a lot of four above the earthquake disaster, the event of a major earthquake, the system can automatically within 30 minutes to calculate the scale of disaster, the authorities have targeted guidance Immediately started rescue measures. Urban construction planning in the time, Japan also attaches great importance to the design of disaster prevention and evacuation. Seismic and security of Japan is building roads, railways and urban parks, and other key infrastructure. There are many cities in Japan, government-designated buffer zone asylum, many of the city greenbelt Jiexin Park and the entrance are Chazhuo "earthquake haven" of the brand.

Third, it is standardized and orderly system of disaster relief organizations. In 1978 the Japanese government's "large-scale earthquake of the Special Measures Law" stipulates that if a major earthquake measuring imminent, the Prime Minister in earthquake prediction will be 2-3 days before the date of publication "alert Declaration", the Government immediately launched a comprehensive asylum relief measures . In 2001, Japan's Central Disaster Prevention Council of the restructuring of institutions and strengthening the body, established from central to local disaster prevention and reduction of information systems and emergency response systems. Once a major national disaster, the Government of Japan Prime Minister will serve as commander-in-chief, the Japanese government departments will perform their own functions: Ministry of Internal Affairs and the Office of the first fire rushed to the disaster scene to rescue the affected people, the Cabinet will be rushed to the scene to understand the victims Needs of the Japanese Self-Defense Force Ganqu rescue people in disaster areas, local governments directly to help people resume their lives, other sectors are also the first time for interaction. All the electricity, gas, water, telecommunications companies are helping to restore people's normal life.

New Zealand earthquake insurance: the government and the market integration

New Zealand earthquake insurance system known as the world's most successful operation of the existing disaster insurance system one of its main features are: State law establishing its own national conditions of the multi-channel catastrophic risk decentralized system and take the government acts with a combination of market behavior The road as far as possible to spread catastrophic risk. New Zealand volcanic earthquakes in the Pacific Rim put, is earthquake-prone countries, the average annual earthquake nearly 3,000 times, the fight against natural disasters have become part of the New Zealand public life. According to the New Zealand Earthquake Commission press officer, in 1942, located in the central part of New Zealand capital Wellington region and the Wairarapa region had suffered a magnitude 7.2 earthquake attacks, causing massive housing construction severely damaged. Many houses in a few years have failed to repair the main reasons is not enough insurance compensation.

In order to learn from this lesson, the Government of New Zealand in the 1945 war and the establishment of the earthquake damage to the Commission, will later include other natural disasters, war damage and cancellation insurance. At present, earthquake catastrophe risk insurance provided by the insurance coverage include: earthquakes, mountain landslides, volcanic eruptions, tidal waves and geothermal activities, its purpose is to help people in New Zealand as soon as possible after natural disasters and rebuild their return to their homes

Switzerland: 2009 will be a mandatory earthquake insurance

Switzerland earthquake far inferior to the potential threat of floods or infectious diseases. From the 1356 earthquake in the region since the Basel, Switzerland has experienced a number of six earthquakes, resulting in the loss of tens of thousands. At present, Switzerland is the European countries with higher population density, plus 90% of the existing buildings are not the Swiss earthquake building design, in case of earthquakes, Switzerland will face heavy losses. In this context, the Swiss Insurance Association, the Federal Bureau of commercial insurance state of buildings and Switzerland to discuss joint countermeasures insurer, to be started since 2009 in Switzerland within the framework of the implementation of a compulsory earthquake insurance.

At present, the Swiss insurance companies on earthquake risk only provide limited coverage, few products on the market for earthquake damage to buildings and goods and factory lay-off caused by operating losses. Switzerland's 19 federal states in the 1978 building insurers to create a common earthquake insurance fund, and each time the earthquake can be insured for 500 million Swiss francs to provide assistance. Mutual funds of funds derived from the original insurance premium income and reinsurance cover the amount. 19 federal states of Zurich, which also established a separate regional earthquake insurance fund to provide 200 million Swiss francs 30 million commitment for earthquake risk. Currently, 19 federal states of the earthquake risk insurance payments, mainly through the commitment to the resources of the Fund, the insured do not have to pay additional premiums, but the insured must bear its own 10% of the value of the insurance losses or at least 50,000 Swiss Franc loss. The earthquake did not participate in mutual funds, other federal insurer also agreed to establish mechanisms to provide 200 million Swiss francs to deal with the earthquake triggered the payment. However, the 1356 Basel earthquake as an example, if the outbreak of the earthquake today, it will lead to the loss of 80 billion Swiss francs, the earthquake disaster insurance fund to provide capital and earthquake damage, only a drop in the bucket.

According to estimates, a hypothetical loss of 80 billion Swiss francs on the Swiss earthquake macroeconomic and capital market impact is as follows: the national economy post-2001 GDP increased 2.7%, post-2001 real estate investment increased 13.5%, post-disaster 2001, imports increased 8.2 percent; post-2003 rate of inflation rose 2 percent and post-2003 long-term interest rates banks increased by 1 percent, so the impact on individuals is difficult to sustain. Through compulsory insurance, in order to balance all these changes, each individual needs only 100 Swiss francs a year to pay the premiums will cover earthquake risk.

In 2009 the proposed plan the implementation of the mandatory earthquake insurance, the premiums charged to be taken and buildings linked to the value of the form. 500,000 Swiss francs buildings in the insurance premium to be paid around 50 Swiss francs, the premium rate for the insurance value of about 0.01 percent. Determining the premium does not refer to the various regions of different probability of earthquake risk, the advantages of compulsory insurance so that the probability of high-risk areas from the insured under the burden of high insurance premiums. Mandatory earthquake insurance premiums will set up a special fund management, insurance risk to distinguish other funds earmarked proceed to achieve, through increased earthquake risk fund management transparency and management to achieve the level of earthquake risk in the Swiss region of insurability.

United States: government-led earthquake insurance

At 14:28 on May 12, 2008, a sudden earthquake hit China's Sichuan Province Wenchuan County. The magnitude 7.8 earthquake not only caused significant casualties, but also on the local and surrounding areas of public and private property caused very serious damage. After the earthquake, the Chinese government quickly launched relief work in full rescue of the wounded at the same time, do everything we can to safeguard the people's lives. In natural disasters, the insurance companies have been quick to the disaster area donated more than 30 million yuan of money, and immediately activated the emergency plan for people in disaster areas and relief workers to provide personal protection. However, the insurance industry should play a role is to provide funds for the reconstruction of security, because in reality many of the objective conditions have forced insurance companies helpless, this problem is worthy of our reflection.

First of all recognize the need earthquake insurance is different from ordinary property insurance. From the perspective of risk classification, should belong to the earthquake catastrophe risk, not ordinary property insurance policies within the scope of protection. The same general area of housing, cars and other property insurance losses were scattered, the risk is evenly distributed, while the earthquake affected areas will cause people's property damage at the same time, the risk is concentrated. Insurance companies will not encounter many years after the Chuxian coverage, but it may have to bear huge one-time compensation for the situation. This requires insurance companies in advance stored a large number of reserve to cope with the huge future potential compensation to insurance companies in carrying out the Catastrophe Insurance will take time different from the general property insurance and capital operation of the business strategy.

We know that the catastrophe insurance needs of the Government's active participation in and play functions, and the current China's earthquake insurance is precisely the lack of strong policy support, more earthquake insurance also rely on the companies in the market operation. This situation is caused by the insured less coverage of the narrow and very limited underwriting capacity, unable to meet the needs of society. You can learn from abroad relatively mature earthquake insurance operations experience to guide the future of China's earthquake insurance market expansion and improvement to provide a reference of experience.

In the more developed insurance market in the United States, the people's awareness of earthquake insurance is not very high, in geological instability and higher insurance rates in California, only about 15 percent of households purchase earthquake insurance. Compared to earthquake insurance as a financial standing of the family expenditure in order to protect the security of property, many people more willing to believe that such a major earthquake may be a lifelong Nanyu things will not happen to them, even if the earthquake occurred, the Government will Provide financial assistance.

But this ignores the government only for people in disaster areas to provide low-interest loans to rebuild their homes and unable to pay for their housing. Will cause fundamental damage to housing in addition to the fire, only a natural disaster. As a general family and the most important assets of the housing and motor vehicles, once it is damaged by the earthquake but could not afford the cost for the restoration, then on the fight against this family is enormous. This will not only cause heavy losses to the family assets, but also to people's lives tremendous negative impact, it is necessary to the family's main asset to provide the necessary protection. To enhance public awareness on earthquake insurance, the Government must play in which the publicity, organizers and promoters of the role.

To California as an example, earthquake insurance is provided by the State Seismological Bureau, the rate for the implementation of strict supervision to ensure that companies deal with earthquake disasters have adequate solvency. California Seismological Bureau (California Earthquake Authority) first of all to the U.S. Geological Survey (United States Geological Survey) and the California Geological Survey is based on measurement data to assess earthquake risk in the district.

On this basis, the use of actuarial models, measured in a different order of magnitude of local earthquake may cause the loss, and, accordingly drawn up a different combination of earthquake insurance contracts. According to the last reference to the different factors for different regions and different real estate conditions set the corresponding rates by insurance companies under the jurisdiction of Member sales. For example, relatively loose soil zones corresponding higher rates; housing the year, foundation, structure and construction materials, and so will become the reference rate factors. The development of the standard rate is not fixed, will be based on different periods corresponding to different geological and crustal movements, as well as historical data, the rate of implementation of a certain degree of floating.

California is still the earthquake insurance as an example, the protection of their coverage and have done a certain degree of restriction. First of all, provide compensation for the protection of housing must be used for residential purposes, all other commercial, industrial space is not within the scope of protection. If the second set of family-owned housing, in a separate purchase of a separate earthquake policy on the basis of the enjoyment of insurance coverage. Secondly, one can choose for the home office supplies, housing and living expenses to provide the necessary protection. Household items include: furniture, electrical appliances and clothing, the choice of general insurance rates range from 5 to 1,000 U.S. dollars ranging from a maximum 100,000 U.S. dollars. For the protection of housing, depending on the actual case may be insured, did not set an upper limit. However, all the earthquake insurance contracts are 10% or 15% of the deductible, that is, if the insured the 100,000 U.S. dollars of insurance earthquake insurance policies, the general Chuxian after more than 10,005 of the loss of some 1,000 U.S. dollars, insurance companies only Will be paid, and to be part of the insured Mianpei their shoulder.

Because insurance is the high value of housing, higher premiums for some years. Set the upper limit of personal property insurance and deductibles is intended to focus on relief funds do need to address this part of compensation for people's homes on the issue of reconstruction. California quake can be used for the payment of compensation capacity of the capital over 8 billion U.S. dollars, tremendous capacity to pay the accumulated premium income comes from, the local member companies account for payment to the Fund, loans, reinsurance and investment income, and so on. At the same time the Government through revenue from income tax in the form of earthquake insurance to provide financial support and the fund earmarked, not to subsidize the budget deficit. The premiums collected by the earthquake, management, and for bank deposits, government bonds and other secure investment channels.

Through the U.S. representative of the earthquake insurance system is not difficult to understand that the Government played a crucial role. Because earthquake insurance is catastrophic insurance and the nature of such insurance has its own by the nature of the relief will require the organization and participation in government, can improve its efficiency. Government-led catastrophe in insurers can operate on the purpose of the protection of people's interests, but also effective integration of resources and achieve financial security management and use. So in the future development of China's earthquake insurance, the urgent need to establish a government-led catastrophe risk diversification mechanisms and catastrophe insurance system. On the one hand, through policy support to foster their growth, on the other hand also through reinsurance as well as financial derivatives and other risk diversification, the ability to provide protection. So that insurance can effectively replace society to assume the responsibility of earthquake risk management, for the lives of the people to provide security and stability.

Swiss Re: the country can deal with the scheme earthquake risk

4 Chuan Wenchuan after the earthquake, Swiss Re's Asia Division of property and special risk insurance business will Tak Lee, vice president (Peter Zimmerli) an interview with reporters that the human can not control the earthquake itself, but can through a variety of ways to reduce the losses caused by the earthquake. According to Swiss Re in the rest of the world experience, a total of the national insurance scheme is to resist the earthquake disaster risk of an effective method.

Li Bi, said the post-earthquake insurance companies and local customers in the assessment of claims will begin soon, but the general awareness of insurance in the region is relatively low density.

According to reports, and other global markets, Swiss Re has been developed specifically for the Chinese seismic risk assessment model. According to model, from the history of earthquake activity, May 12 Wenchuan County in Sichuan Province to the earthquake affected areas are high-risk earthquake zone.

Swiss Re against China on the status of natural disasters that China's complex climate, geographic conditions varied, vulnerable to natural disasters hit, including earthquakes, typhoons and floods pose the greatest threat.

Li Bi, said the earthquake model can be used to estimate losses, but this disaster-stricken areas need to know the amount of the specific location of the distribution. Unfortunately, the reinsurance companies access to the vast majority of the insured amount for the distribution of the data are the provinces of the statistics unit. This data not detailed enough, it is difficult to model the earthquake in the quake Wen Chuan such as a single case of natural disasters and provide a reliable estimate of the loss.

It is understood that the individual can not afford to pay or long-term accumulate the reserve is not enough to bear the loss of property, there are two basic ways to compensate: credit, government subsidies or private donations for disaster compensation insurance in the form of pre-disaster compensation .

Lee Tak will be explained, pre-disaster and post-disaster compensation compensation compared to have many advantages, because the pre-disaster compensation for the victims of prior agreement of the amount of compensation so that they do not have to rely on external donors owing to security matters is the pre-disaster agreement, the compensation can In place soon, after the occurrence of disasters can quickly restore the economy. If formed through a large-scale insurance risk groups, all the personal property losses can get compensation, and this will enable the Government to focus resources on ensuring safety and post-disaster rehabilitation of essential infrastructure; can pay the premium to the public Improve risk awareness.

Li Bi, said that although insurance can not eliminate natural disasters brought about the devastating consequences, but comprehensive insurance able to respond to disasters caused financial losses to provide an effective solution. Will deal with unexpected losses of the necessary burden shifted to the insurance companies, will help the country's economic development and social stability.

LI Bi, said the China's insurance companies, underwriting earthquake risk is very challenging, is the main reason for earthquake disaster of "low-frequency, high-loss" characteristics. According to Swiss Re in the rest of the world experience, a total of the national insurance scheme is an effective way to ensure that everyone can afford the premiums on the basis of providing extensive coverage of the insurance coverage.

Germany housing insurance to homeowners affected not impaired

"Days of contingency situation," a hurricane or an earthquake, destroying 10 million housing and housing in many ordinary families may be the most valuable asset. German sound real estate insurance system, so that the owner is able to "affected not damaged."

Germany's well-known real estate credit risk analyst at Bank A Ruier bank said Hao Peng told reporters: "In simple terms, Germany's basic property insurance, is to re-build the house Discard it." In the event of accidents, insurance The amount paid by the company to ensure that in the same place built a new house. Regardless of the damage to housing and how the old facilities, insurance companies should be compensation in accordance with the price of new houses.

In order to ensure the "inverted Erfu from", whether the accounting required to pay the premium or the payment of post-disaster, "recycling prices," the German insurance become the basis for calculation. It does not include the premium, but also different from the owner to buy when the price of housing or damage to the market price, such as former Housing. German real estate insurance laws and regulations in its calculation of a clear, professional assessment of the division for evaluation.

According to the German-ho, an insurance broker at the company's Huang Xiaolu, the process of dealing with disaster housing the many related costs, but also within the scope of protection and indemnity. For example, site clean-up costs, damage assessment fees, removal costs, on-site protection fees, impairment costs and other measures, as well as in the construction of new homes during the owner of the hotel accommodation costs and even loss of rent, insurance companies are responsible for payment.

Germany is responsible for the insurance claims of a wide range, including a fire, flood, hurricanes, earthquakes, lightning, hail and other common natural disasters. Germany in particular hurricane disasters one after another in recent years, insurance companies often paid the amount of over 1 billion U.S. dollars each. Last year, "Ji Lier," the aftermath of the hurricane, the German insurance company for payment of the amount of 2 billion euros.

However, the German owner of the insurance premiums paid by and not expensive. According to Hao Peng, although the housing and different types of insurance premium calculation standards rather complicated, but on the whole the average family annual premium is about housing, "Price recycling" of about five thousandths. For example, he is living in a house of 100 square meters a year to pay the premium of about 120 euros.

In Germany, the insurance is not mandatory, by the owners to decide whether self-insured, but most choose to buy the German landlord insurance. In addition, through a bank loan to buy or build the houses, banks generally require the owner to-be. At present, Germany has the majority of the housing insurance, even after major disasters, Germany families can achieve the "post-disaster not damaged."

According to Huang Xiaolu, the German insurance has exclusions, such as by the insured losses caused by serious dereliction of duty, and so on. This is a most controversial issue. According to Germany the previous insurance contract law, such a situation when the insurance company can refuse compensation. The 2008 entry into force of the new insurance contract law was more favorable to consumers changes. According to the new law, insurance companies, policyholders can only be based on the severity of dereliction of duty, and the effect of reducing the loss of compensation, but not completely Jupei.

In addition to general disaster housing accident insurance, property insurance Germany actually diverse, varied. For example, homeowners liability insurance is also a German family the necessary insurance coverage, whether it is falling from the balcony of items injured pedestrians, or the owner forget snow led to passers out of, the owner liability insurance will be responsible for compensation for the injured Medical expenses, rehabilitation costs, and the spirit of loss of fees.

German real estate insurance market developed, so that participants become German family housing essential to disaster prevention measures, in companies, schools, government and other units, especially, one of many to be learned from experience.

20 billion U.S. dollars! AIG three times the amount raised funding

Selling stock and sell assets…… American International Group (AIG), or face greater credit losses.

Local time on May 20, AIG chairman and chief executive officer Martin »Sullivan (Martin J. Sullivan) in London, a seminar said, AIG will raise 20 billion U.S. dollars," the credit market turmoil continued to prepare . "

This initial funding target of more than 60 percent. May 8, AIG issued a quarterly earnings, announced a fund-raising 12.5 billion U.S. dollars, to supplement the company's assets, the company should increase the short-term market risks.

This change will undoubtedly exacerbated the market for credit losses AIG concerns.

On the 20th, AIG shares fell 2.13 percent, to close at 38.12 U.S. dollars, are still 38 U.S. dollars set in March of the 10 lowest point in lingering. As the world's largest market value of the insurance company, AIG has also become the Dow Jones Industrial Average this year in the worst performance of the company.

Following the February this year, AIG announced that fourth quarter 2007 loss of 5.3 billion U.S. dollars, May 8, AIG announced first quarter 2008 net loss amounted to 7.81 billion U.S. dollars, or 3.09 U.S. dollars, AIG became the biggest losses. Sullivan said that day, AIG has the capital to "disturbing" standard.

AIG through the sale of shares and to issue bonds to replenish capital.

12.5 billion U.S. dollars in accordance with the financing plan, AIG will first issue 7.5 billion U.S. dollars of ordinary shares and equity-linked securities, to issue 5 billion U.S. dollars of fixed-income securities.

The announcement followed a series of constantly refresh the amount of its financing.

On the 12th, AIG announced that it has sold 11.9 billion U.S. dollars of common stock and the stock can be converted to equity units, higher than the previous estimate of 7.5 billion U.S. dollars. The company also said it may increase the sale of 1.5 billion U.S. dollars a mixture of bonds and 5 billion U.S. dollars of bonds. AIG spokesman Chris »Wennan (Chris Winans) said:" demand exceeded our expectations. "

16, the amount of funding to continue to increase. AIG to the U.S. Securities and Exchange Commission on that day's paper, has sold nearly 13.4 billion U.S. dollars of common stock and the stock can be converted to equity units, including 196.7 million ordinary shares and 78.4 million in equity units.

On the 20th, AIG third increase in financing limit. Sullivan said the same day, through the sale of common shares and equity units, AIG now raise at least 13.5 billion U.S. dollars, is now available for sale to the U.S. dollar, euro and sterling-denominated bonds mixed, is expected to raise the equivalent of 6.5 billion U.S. dollars of funds, "the new Capital can help us now use the emerging market in which the advantage to the credit market turmoil continued to prepare. "

At the same time, AIG has plans to sell some non-core businesses and in overseas markets for new business development.

"In our assets, not what is sacred and inviolable." Sullivan said, "We have started stripping non-core business."

The Wall Street Journal on the 12th had said, AIG's international financial leasing companies (ILFC) and AIG are considering separation, ILFC for the major U.S. airlines to provide aircraft leasing business. Reported that, ILFC management worried that the parent company AIG's credit problems that may affect its aircraft leasing industry in the development of capacity.

However, Sullivan on the 20th denied the rumors. He said the company will develop part of the business, especially overseas life insurance and retirement pension, and aircraft leasing business, "We want to ensure that the main business intact."

Sullivan of AIG's insurance business outside the United States and expressed satisfaction with the financial markets, including AIG, the insurance subsidiaries of our allies, AIU.

Sichuan after the earthquake, AIG announced that it would contribute 1 million U.S. dollars (about 7 million yuan), International Assurance Company, AIU and other AIG member companies in China also promised another donated nearly 2.3 million yuan.

Zurich Financial Services Group increased 40 percent goal in life insurance

Zurich Financial Services Group announced a substantial increase in life insurance business objectives 40 percent, to 2010 reached 1.2 billion U.S. dollars worth of new business.

Comprehensive foreign May 23, Zurich Financial Services Group (Zurich FinancialServicesAG) 23 announced a substantial increase in life insurance business objectives, this shows that Swiss insurance companies and the market as a whole in good condition.

The company said its global life insurance sector's goal is to have 2010 reached 1.2 billion U.S. dollars worth of new business, than the 850 million U.S. dollars before the goal of raising 40 percent, show that Zurich Financial Services Group to enter the savings due to strong demand for the products Market.

Zurich Financial Services Group CEO of Global Life MarioGreco said that the new business value target is to amend the amendment to promote the company's strategic direction, the company's strategic direction and professional portfolio from the national to the global scope of Life.

He said that Zurich Financial Services Group will focus on three global distribution channels to better serve local customers, targeting three specific groups of customers worldwide and through regional centres focus on providing core competencies.

Insurance company life insurance business value of new business is a key industry indicator, showed that the company's life insurance business's net wealth, or the company's new life insurance policy can be sold to investors value.

This indicator is very important because it reflects an insurer's ability to promote quality growth and financial markets will be how to develop the condition. These conditions such as interest rate forecasts, to determine the value of the new policy of practical significance.

Swiss Re's catastrophe to Asian countries to sell insurance

According to "Financial Times" reported on May 26, the world's largest reinsurer Swiss Re is to further promote the four Asian countries with the negotiations, the four countries aims to sell a sudden catastrophe insurance. The insurance will be encountered in the countries of sudden natural disasters, to pay hundreds of millions of dollars in damages and across the country to provide assistance funds. These four countries have not yet announced the list.

Swiss Re insurance Asian public sector business development director Boer Man Group said that Myanmar and China's tropical storm occurred in Wenchuan after the earthquake, this will speed up the process of negotiations, weeks may be the first to complete transactions.

The funds operate more tense government, to buy them in the types of natural disasters, rapid access to financial support. Although these funds to support post-disaster reconstruction, can not meet up to several billions of dollars in funding needs, but these countries can avoid the Government to immediately seek assistance from the international market, or forced to change the budget spending plans.

At present, the global insurance purchased the only country of Mexico. Mexico is a country of frequent earthquakes in the country in 2006 to Swiss Re insurance purchased the sudden disaster insurance, the maximum payment amount of 450 million U.S. dollars.

States earthquake insurance system

In Japan, New Zealand, and other earthquake-prone countries and regions, in view of the catastrophic earthquake insurance system are better. The New Zealand earthquake insurance system known as the world's most successful operation of the existing insurance system for disasters of earthquake risk to the system includes three parts: the earthquake, insurance companies and insurance associations.

Earthquake Commission is responsible for the statutory compensation insurance, housing a maximum liability limit of 10 million New Zealand dollars, the highest-room property liability limits for the 20,000 New Zealand dollars, according to the insurance company responsible for insurance contracts that exceed the statutory responsibility of the insurance part of the damages, insurance associations to start the Contingency plans.

Among them, the accumulation of the catastrophic earthquake risk funds mainly come from the mandatory levy premiums and investment funds in the market in the benefits. In addition to catastrophic risk fund, the earthquake also used three levels of the international reinsurance market risk dispersion. If the earthquake paid 200 million Singapore dollars irreparable loss, then start re-insurance programmes; amount of the loss if more than 2.05 billion Singapore dollars, from catastrophic risk fund to run out; still inadequate, the burden on the remaining claims by the Government to pay.

U.S. earthquake-prone California to set up an equally by the insurance companies to participate freely in and financed by public institutions to manage the California Earthquake Authority. In addition to members of the insurance company charges, the California Earthquake Authority also approved loans, reinsurance, investment and other ways to raise funds and do not pay federal income tax. It is understood that the California Earthquake Authority for a maximum amount of 8 billion U.S. dollars in insurance payments. In accordance with the law, the California earthquake can not be declared bankrupt, if a major earthquake disaster and the lack of assets, between the flat rates for policy holders.

European insurance stocks lower valuation analysts raised recommendations

European insurance stocks in the region is now the cheapest valuation of the stock, then it has bought it for » Analysts generally believe that now may be beginning to pay attention again when the insurance stocks, some people even suggested that further, raised such shares.

-- June 1 was informed that data from Reuters, DJ Stoxx European insurance stocks index to profit next year, the average price-earnings ratio of 7.7 times for the 18 sectors in the index the minimum. In contrast, the European food and beverage sector-earnings ratio of 16.6 times, the European utility stocks to 15.5 times, even the difficulties due to the credit market write-down for a few billions of dollars in bank assets Unit, also reached its price-earnings ratio of 8.7 times.

"As long as the world next year, not destruction, insurance stocks will have a bright future: Now is the opportunity to buy." Joint credit strategist at Christine Stockton said, "I think in the next few quarters, the insurance sector Performance will be better than market, and far stronger than the banking sector. "February when the company began re-raised insurance stocks.

Stockton reason is that the insurance sector has a stable profit, lower than the risk of the banking sector, and lower valuation. May promote insurance stocks rose factors: a stable pricing; likely to flourish in the emerging markets to benefit the region because of low penetration of insurance business; There is also the potential industry restructuring.

Brussels Fortis Bank strategist at Phillip Ji Seer said: "When such stocks rebound, the trend may be very spectacular, the price-earnings ratio may reach 12-13 times higher than the current stock price 50 percent." Ji Seer said , Taking into account the insurance sector is a Change of the magnitude greater than market shares, such shares may be next year or the year after the most critical areas of investment.

In addition to worry about insurance stocks encountered difficulties in the credit market, investment, investors also worried, reinsurers premiums will fall and the economic slowdown of the people buying insurance will be reduced.

Many analysts argue that some investors over-react. Canada Life Insurance Company, fund managers Make Bo that "the market worried about the sharp decline in premiums and not become a reality." Emerging markets continued strong performance of the insurance business, and the possible reorganization of these are expected to become the insurance sector profitable factors.

This year, insurance stocks down nearly 15 percent, the performance of various sectors in European stocks ranked in the middle reaches. The best performance is already up 12 percent of the mining sector, and the poor performance of banking stocks fell by 20 percent. "The insurance sector in crisis in better performance, much better than banks, and can provide high returns and low risk." Bo said.

Joint credit Stockton said that he is the most favored stocks in a market leading position in the German Allianz and Munich Re. Canada Life Insurance Company is optimistic about the Make Bo Zurich Financial Services Group, the reason lies in its cost-control measures; In addition, the Swiss Life Insurance Company, also favored by the lower valuation because, in addition to Spain's Mapfre MAP, the company focused on Latin American emerging markets.

Insurance giant Aviva will be big layoffs

Britain's largest insurance company Aviva Group (Aviva) recently announced that as part of the reorganization of operations, to the end of 2010 would cut 1,800 employees.

Aviva group is not only the UK's largest insurance companies, is the world's fifth largest insurance group in the world, within the framework of a total of 60,000 employees, its main business, including long-term savings, fund management and other general insurance.

Aviva Group in October last year indicated that an increase in domestic savings business, we must conduct business integration. According to reports, the insurance company plans to abolish "Nowe joint governance," the brand, and will focus on insurance business in the UK, including Manchester and the rule of Stornoway, seven cities. If these plans into practice, into the inevitable layoffs.

"Nowe joint governance" is Aviva's Group, a subsidiary, is the UK's largest property insurance company. Aviva believes that by simplifying business can help companies improve efficiency, to provide consumers with better services.

Insurance giant Aviva will be big layoffs

Britain's largest insurance company Aviva Group (Aviva) recently announced that as part of the reorganization of operations, to the end of 2010 would cut 1,800 employees.

Aviva group is not only the UK's largest insurance companies, is the world's fifth largest insurance group in the world, within the framework of a total of 60,000 employees, its main business, including long-term savings, fund management and other general insurance.

Aviva Group in October last year indicated that an increase in domestic savings business, we must conduct business integration. According to reports, the insurance company plans to abolish "Nowe joint governance," the brand, and will focus on insurance business in the UK, including Manchester and the rule of Stornoway, seven cities. If these plans into practice, into the inevitable layoffs.

"Nowe joint governance" is Aviva's Group, a subsidiary, is the UK's largest property insurance company. Aviva believes that by simplifying business can help companies improve efficiency, to provide consumers with better services.

The nation's largest health insurance companies contribute 50,000 U.S. dollars funded disaster areas

Recently, the public Kang (Shanghai) Business Advisory Services Limited investment partners one of the largest U.S. health insurance company WellPoint announced that its Foundation would suffer the earthquake disaster in China to provide 50,000 U.S. dollars donation to support the relief and rescue work.

"In such a great natural disasters, relief agencies will need to be immediate financial support to ensure that the affected people is essential to medical facilities and food to victims in the hands," WellPoint Foundation, Caz Matthews said. "In the aftershocks have not stopped in time, the international community need to work together to help those in disaster losses in the tens of thousands of Chinese people."


WellPoint Foundation, these funds will be directly delivered to the international relief organization AmeriCares, the organization's mission is to provide individuals in need of medicines and medical support.


"WPMI cooperation for the assistance of others companies have very strong sense of mission," Matthews President think. "We Hurricane Katrina in the United States attacks carried out assistance in the face of all sizes the impact of the markets we serve event of a disaster, we will continue to provide assistance. WPMI with access to China, we have a responsibility to help the In carrying out the reconstruction process. "

American International Group, clinical personnel to the earthquake revocation CEO

According to "Financial Times" 06月16 published jointly signed for the Inguri Guerleila and Mike McIntosh for the article said, American International Group (AIG) will use the current Chairman of the Board of Bao Bowei Kornblum Situo De much to replace the current plight of the CEO Martin Sullivan, in order to end the group now faces the history of the 89 most serious times of crisis.


According to informed sources revealed on Sunday, American International Group, held an emergency board of directors has decided that the end of Sullivan International Group in the United States in the three-year term. At present, the Group had a loss due to the credit investigation and other factors and institutions are facing major crisis.


American International Group, the Board also decided that in 2003 served as Citigroup executives, AIG current Chairman of the Board of Wei Lumu Situo De will replace Sullivan as the new chief executive officer, and former CEO of Hilton history Difenbolun Marchi will serve as the new Chairman of the Board.


Sullivan at the time that the 17-year-old joined American International Group, then the insurance clerk. According to relevant provisions of the contract, which may be in the "resignation" in access to 35 million U.S. dollars over the "dismissal of charges."


Currently, American International Group, refused to comment on the matter.


It is understood American International Group, said the board decision-making, as the group's huge loan losses and the shareholders of the growing discontent, Sullivan was therefore step down.


American International Group, the board initially supported Sullivan has been spent on loan-to-crisis. Just last month, Wei Lumu Situo De also claimed that Sullivan is leading the American International Group, out of the crisis the "fit and proper person." However, following the group of three major directors again criticized the senior management staff and called for replacement of the Group of officials after last weekend between the directors of the group have also strengthened the discussion on the matter.


Just last week, American International Group, former directors , Legg Mason fund manager Bill Miller and another fund manager Shelby Davis co-wrote a letter to the board of American International Group, called for the establishment survey Committee to determine the new management and recruitment of a new CEO. At the same time, the three directors of the American International Group, in the holding of more than 100 million shares, or about all the outstanding shares of around 4 percent.


Sullivan will be the departure of American International Group, the former chairman of the board and chief executive officer of the victory Hank Greenberg, who since 2005 after leaving the group has been to launch an attack on American International Group. As the only group the largest shareholder, Greenberg has repeatedly attacked Sullivan and the management of other staff, claimed that American International Group, is a serious financial crisis and the lack of a clear strategy.

U.S. "black widows" seeking to kill her husband of five insurance

Augusta, Georgia, USA in 76-year-old Lao Tai Beidiniuma appearance looks like a typical grandmother, she has been the U.S. media called "black widows" because she has married five times guitar, and she The five are the ex-husband has died or Hengsi, of which three people died of the shooting, one person may have died of poisoning. Beattie in the third husband Terry's younger brother Harold Chien repeated requests, the United States police have recently re-on Harold's death launched an investigation and found the Betty to receive the third term of her husband Harold Personal insurance, employment killer shot and killed Harold amazing evidence. Beattie until the police will arrest, they shocked to find that only her husband are all five died in the shooting or other "mysterious factor." U.S. police are on Beattie another four ex-husband of the death of a re-investigation to determine whether they are also died in this "black widows" hands.

Married her husband have five of the dead

According to reports, from the 1950s, a total of guitar Betty married five times. It is learnt that Beattie's first husband died in 1952, although the police believe his death is suspicious, but did not become a widow Betty suspects. Two years later, Beattie's second husband also encountered the shooting, died.

January 19, 1968, Betty in Florida, married third husband, U.S. Army officer Harold Jane Terry, then 36-year-old Betty, 29-year-old Harold, but in 1986, Harold is also His home was shot and died instantly. When Harold after the death of Betty remarried after another two, section 4 of the Betty and her husband, 79-year-old husband No. 5 Yuehanniuma have also died.

When the first three of the husband shot and killed Harold encountered at home, while Beattie was "just" not at home, the police can, however Beattie as a suspect, but they have not found sufficient evidence to charge her. However, Harold's brother Al Jane Terry has been firmly believe that Betty is the murder of his brother, in the past 20 years, Al has repeatedly urged the police to investigate the shooting of Harold. Finally the United States finally agreed to re-open the police investigation, the police found that Betty employment for the killer shot her third husband Harold!

According to police, although they do not have to chase the gunman killed Harold, but they have found witnesses, and that Beattie had had several people contact in an attempt to kill her husband Gu Xiong, these witnesses had also stolen Betty heard the killer and a potential exchange of property. 76-year-old Betty has been in the United States last month was arrested by the police, who, by Gu Xiong and her husband charged with murder.

Not Qiyi grief for the dead brother

Harold's brother Al victims to reporters, said he was suspected of the murder of his Betty, Betty is because when Harold found her husband was shot dead in the city of Albemarle home, her expression Not showing the slightest grief. Al said: "If the car when she was out of tears and asked me who killed Harold, perhaps I will never doubt her, it was her areas of negligence."

Al said that in Harold was shot dead before he and Betty the marriage relationship has been very tight, Harold living alone at home in the Garden before a camping vehicle. Al said that Harold's death brought the family to give them a tremendous pain, but when Beattie, who was arrested after he and other family members once again came to Harold's grave before Diaoji, Al said, he - Brother on the tombstone that a remark: "my brother, we happened her."

Article 5 of the suspected her husband died of arsenic

It is learnt that the United States until the police arrested the Baifacangcang Beattie, they only shocked to discover that Beattie will have three ex-husband died in the shooting. Beattie 79-year-old No. 5 Yuehanniuma husband died in October last year, the police now suspect he may have died of arsenic poisoning!

Betty's hometown, the police investigation is currently being re-Yuehanniuma the deaths of two weeks ago, the police entered the Betty's home and confiscated John's ashes urn. Just because John Beattie on the death of her husband rushed to the remains were cremated and fast even born to John and his ex-wife's son John do not know his father's funeral. John said: "She has never call me and tell my father sick or what other things. I still read newspapers when he read the obituary, when I hastily funeral where his father, he could have been a cremation."

Medical identification that the cause of death was sepsis John. Police will test the ashes of John, because arsenic poisoning will also trigger symptoms similar to sepsis.

Huijinrutu life of luxury

In addition to investigating the cause of death Yuehanniuma, U.S. police will also investigate the other three Beattie is also the former husband of her supporters were dying. Beattie is still currently in prison, and her bail of up to 250,000 pounds. Al said: "Beattie is kind of like buying jewelry and designer clothing, she is always eager to have more, she would try to to meet their aspirations in my brother died, she received at least 10,000 pounds of Life in the Army reserves and he served 20 years of pension, she also sold their house. "It is learnt that the Huijinrutu, extravagant life of Betty once owned 43 credit cards, eight years ago, when her credit card less frequent brush Under at least 100,000 pounds of debt, she also has applied for bankruptcy. Betty and third husband Harold of Health has a daughter, she is now living in Georgia, Augusta City, but her mother refused to comment on the arrest of.