Singapore, India xx, 2012, - 3i Infotech, a global provider of IT solutions and one of India’s leading IT companies, announced that PJICO INSURANCE CORPORATION (PJICO), one of the four largest non-life insurers and a market leader in motor insurance in Vietnam, has selected 3i Infotech’s Insurance Management Solution - Premia™.
The total number of foreign insurers in China is expected to reach 70
by 2011 from fewer than 50 at present, with their overall market share
to expand from 6% to 10% in the same time frame, according to a survey
by the international accounting firm, PricewaterhouseCoopers. The
foreign insurers covered in the study project annual premium growth of
between 20% and 50% from 2008 to 2011.
China's insurance industry watchdog, the China Insurance Regulatory
Commission (CIRC), has begun checking on agency services provided by
banks and postal savings organisations for life insurance companies,
reports the Xinhua News Agency
The CIRC aims to act on those insurance companies that still face
insolvency despite having made concerted efforts to improve their
financial positions, says Mr Wu Dingfu who is the Chairman of the
insurance regulatory body.
Insurers in the Philippines have warned that premiums would be
increased to make up for a PHP15 (32 US cents) documentary stamp tax to
be imposed by the government on certificates of insurance, according to
news reports from Manila.