Cathay Life Insurance hikes stake in RCBC

MANILA, Philippines — Cathay Life Insurance Co. Ltd. of Taiwan spent P416 million to beef up its stake in Rizal Commercial Banking Corp......»»

Category: financeSource: philstar philstarSep 13th, 2017

Samsung Life buys stake in Samsung Securities as step towards holding entity

South Korea’s Samsung Life Insurance Co. has decided to buy all shares of Samsung Securities Co. owned by its financial affiliate Samsung Fire &'038; Marine Insurance Co., a move seen to accelerate the process of the life insurer becoming the finan.....»»

Category: newsSource: NewsAug 20th, 2016

$500M settlement in Nassar case won t be shared equally

By Ed White and David Eggert, Associated Press DETROIT (AP) — The $500 million settlement between Michigan State University and hundreds of Larry Nassar's victims will be divided up after weighing many factors, including the date and victim's age when the sexual assaults occurred and the impact it had on their lives, lawyers say. The school, where the sports doctor worked for nearly 20 years, announced Wednesday that it would set aside $425 million for 332 women and girls who say Nassar abused them and another $75 million to cover future claims. But it won't have a role in determining how much each victim will receive. That will likely fall to one or two former judges or experienced mediators who will be selected by lawyers to oversee the process, said John Manly, who represents roughly 200 victims in the worst sexual abuse case in sports history. "This can be wrapped up in four or five months," he predicted. Simple math says $425 million divided by 332 people would be $1.28 million each. But it's not "share and share alike," said attorney David Mittleman, whose Lansing-area firm represents 111 victims. Indeed, claims must be evaluated in many ways. Manly said some people could receive "substantially" more than $1.28 million while others get much less. Attorneys will also get a share of any award under agreements they have with clients. "The age of the abuse, the duration of the abuse," Manly said, listing the likely factors. "Treatment in the future and the past. Have you lost earnings? Are there things about a particular case that are aggravating or mitigating." Mittleman said the dates of the assaults will be important. Older abuse probably will be worth less because without the settlement, Michigan State could have been shielded by a statute of limitations. New York attorney Michael Barasch is not involved in the Nassar case but has represented hundreds of victims sexually abused by New York priests. He said a pool of money is "definitely the way to go." "You've got to have a sensible, systematic and transparent solution," Barasch said. "Who better than a fair mediator accepted by everybody? ... Some of these people are going to be disappointed — guaranteed. But I can tell you from my church abuse cases, the vast majority are so appreciative of having finality." Michigan State was accused of ignoring or dismissing complaints about Nassar, some as far back as the 1990s. The school had insisted that no one covered up assaults, although Nassar's boss was later charged with failing to properly supervise him and committing his own sexual misconduct. In a statement Thursday, his first since the settlement, Michigan State President John Engler apologized, calling Nassar an "evil doctor" whose assaults "shocked our campus and the nation." The former Michigan governor was hired as interim leader after Lou Anna Simon's sudden resignation in January. Michigan State hasn't disclosed how it will pay for the settlement besides leaning on insurance companies. Engler told reporters in Lansing on Thursday that he doesn't plan to ask state lawmakers for money. Dianne Byrum, a member of the school's governing board, said Michigan State likely would borrow money, tap savings, delay big projects and consider budget cuts. She said a tuition increase tied specifically to the Nassar case is unlikely. Nassar, 54, will be locked up for the rest of his life under three decades-long sentences for molesting athletes with his hands and possessing child pornography. He's at a federal prison in Arizona. In addition to working at Michigan State, Nassar worked with Indianapolis-based USA Gymnastics, which trains U.S. Olympians. His assaults were mostly committed in Michigan at his Lansing-area home, campus clinic and area gyms, but his accusers also said he molested them at a gymnastics-training ranch in Texas and at national and international competitions. The settlement applies only to Michigan State. Lawsuits are still pending against USA Gymnastics, the U.S. Olympic Committee and an elite gymnastics club in the Lansing-area. The deal surpasses the $100 million-plus paid by Penn State University to settle claims by at least 35 people who accused assistant football coach Jerry Sandusky of sexual abuse, though the Nassar agreement covers far more victims. ___ Eggert reported from Lansing......»»

Category: sportsSource:  abscbnRelated NewsMay 18th, 2018

May 13th declared Day of Courage

MANILA, Philippines,  – Allianz has declared May 13 as a Day of Courage, with three events that are designed as a test of mettle and to encourage more Filipinos to live a healthy lifestyle. These three events, the PHA Heart Run Powered By Allianz together with the Philippine Heart Association (PHA) at SM By the Bay; the Allianz Conquer Challenge in Vermosa, Laguna; and the Bayanihan Walk in Singapore, will help bring out the best in the participants as they challenge not only physical limits but also to promote the value of courage.  The PHA Heart Run powered by Allianz, which will be held at the SM By The Bay area gives participants the opportunity to become Heart Warriors and bring awareness to cardiovascular diseases (CVDs) that are affecting many Filipinos today. Doctors and healthy heart advocates from the PHA will be joined by running coaches Toni and Jim Saret, in a race that will be led by heart condition survivors who will run in the 1k advocacy division in a bid to shine a light on the prevention and primary care of CVDs. Allianz PNB Life President Olaf Kliesow reiterates the need for Filipino families’ to monitor their health conditions and be wary of increasing medical expenses, especially for a great majority whose savings and insurance protection levels are very much wanting. To make the fun run more exciting, Allianz will be giving out P100,000 worth of personal accident life insurance to all participants, and two lucky 21k and 10K participants will win all-expense paid trips to Thailand, to join the Allianz Ayudhaya World Run! Those who want to level up their game may register at the Allianz Conquer Challenge, an obstacle course race that tests speed, endurance and strategy. The race is made even more special with the participation of Jamil Faisal Saro Adiong, a recipient of the Sultan Kudarat Award for Peace and Community Development. Marawi City, his home province of Lanao del Sur, was besieged with a very big challenge last year, as it was still reeling from the effects of a tropical storm, it was also battered by a war. Jamil is one of the local heroes who was involved in Marawi’s rehabilitation efforts. “I am offering my participation in the race to all my fellow Maranaos, in the hope that we may all triumph in our aspirations with mutual respect through harmonious relationships and inclusive economic development as we rise stringer and more resilient than before,” he shares. Joining the obstacle course race is a testament to his own journey and a call to all Filipinos to embrace peace and tolerance amidst diversity. As with the PHA Heart Run, Allianz will be giving out P100,000 worth of personal accident life insurance to all participants of the challenging course race that has divisions for kids, beginners, and pros. To further amplify their message to dare to take on life’s challenges because Allianz is there to support your family and your life’s dreams, Filipinos in Singapore are invited to join the Allianz PNB Life and Philippine Embassy–supported Bayanihan Walk, which will take place at the Labrador Park. The 3.88km fun walk aims to raise funds to support the Philippine Bayanihan Society Singapore’s charity works and for the maintenance of the Bayanihan Centre. Rei Abrazaldo, Allianz PNB Life Brand Communications and Digital Director, shares that the company’s mission is to empower Filipinos to face new experiences and daily challenges with courage. “We enable every Filipino the courage to live a healthy lifestyle as embodied in our collaboration with the Philippine Heart Association in the upcoming PHA Heart Run Powered by Allianz.  We inspire Filipinos the courage to overcome obstacles as exemplified in our partnership with Conquer Challenge Philippines in the approaching Allianz Conquer Challenge Race, and we empower Filipinos overseas to have the courage to be there for each other in our alliance with the Philippine Bayanihan Society,” Abrazaldo explains. He further emphasizes that at Allianz they believe that life would be better if people had more courage than fear. “There is no better time to agree that we need more courage, to experience that there is more to life than what we were thought of to just be content and not aspire for something better,” he adds. Allianz is the Filipinos’ partner in finding that courage, he says. “Our customers and prospects want to have an insurance which supports them, backs them up, which helps them to live their life to the fullest – and does not scare them or stop them from doing what they want to do. Each one of us has the capacity and the capability to explore life. With the coverage that we provide our clients, they do not need to be alone in exploring life.”  - RELEASE.....»»

Category: sportsSource:  abscbnRelated NewsMay 11th, 2018

Philam Life sets sights on gov’t infra spree

In response to the government's "Build, Build, Build" push, the Philippine American Life and General Insurance Co. (Philam Life) is looking into possible investments in infrastructure. But Philam Life chief executive Ariel G. Cantos told reporters Monday the company was still awaiting for the "right signal and direction" from the government on how to move forward with such investments. "We're looking for opportunities in infrastructure. We have been collaborating with the Insurance Commission to find a way by which we can participate," Cantos said. Discussions with possible project proponents, including banks, were also ongoing, albeit in early stages, Cantos added. ---BEN O. DE...Keep on reading: Philam Life sets sights on gov’t infra spree.....»»

Category: newsSource:  inquirerRelated NewsMay 2nd, 2018

Philam Life keen on infrastructure programs

Philippine American Life and General Insurance Co. has committed to play a role in the government’s massive infrastructure program......»»

Category: financeSource:  philstarRelated NewsMay 1st, 2018

Philam Life sees net worth climb 53% in 2017

PHILIPPINE AMERICAN Life and General Insurance Co., Inc. (Philam Life) saw its net worth jump in 2017 on the back of improved premiums and reach. In a media briefing Monday, Philam Life said it booked a net worth of P69.5 billion in 2017, a 53% jump from last year’s P45.5 billion, citing data it submitted […] The post Philam Life sees net worth climb 53% in 2017 appeared first on BusinessWorld......»»

Category: newsSource:  bworldonlineRelated NewsApr 30th, 2018

iQor Philippines selects FWD Life as group insurance provider

iQor Philippines has recently signed up with Pan-Asian insurer FWD Life Insurance to provide its group insurance needs. With FWD Corporate Care, iQor employees will have adequate life insurance coverage......»»

Category: financeSource:  philstarRelated NewsApr 30th, 2018

Philam Life net worth up 53% in 2017

The Philippine American Life and General Insurance Co. (Philam Life) saw its net worth jump in 2017. In a media briefing Monday, Philam Life said it booked a net worth of P69.5 billion in 2017, 53% higher from last year’s P45.5 billion. — Karl Angelo N. Vidal The post Philam Life net worth up 53% in 2017 appeared first on BusinessWorld......»»

Category: newsSource:  bworldonlineRelated NewsApr 30th, 2018

PNB consolidates non-life insurance business

Listed Philippine National Bank is consolidating its non-life insurance businesses through a share-swap agreement......»»

Category: financeSource:  philstarRelated NewsApr 27th, 2018

FWD Life books higher premium income in 2017

FWD Life Insurance Corp. (FWD) saw its total premium income jump in 2017, outperforming the industry’s growth. In a statement sent to reporters late Tuesday, the pan-Asian insurer said it booked a total premium income of P4.55 billion in 2017, almost 50% higher than the premium income it tallied the previous year. The 2017 premium […] The post FWD Life books higher premium income in 2017 appeared first on BusinessWorld......»»

Category: financeSource:  bworldonlineRelated NewsApr 26th, 2018

FWD Life Insurance and Special Olympics championing ‘inclusion’ in partnership

POWERED by their common belief that “anybody can make a difference no matter the challenges they face,” Pan-Asian insurer FWD Life Insurance and the Special Olympics recently inked a partnership aimed at pushing their vision for an inclusive environment to provide equal opportunities for people with intellectual disabilities. Launched in the region in February, the […] The post FWD Life Insurance and Special Olympics championing ‘inclusion’ in partnership appeared first on BusinessWorld......»»

Category: newsSource:  bworldonlineRelated NewsApr 24th, 2018

Filipino cancer survivor conquers FWD North Pole marathon

On April 16, Louie Sangalang became the first Filipino cancer survivor to finish the FWD North Pole Marathon, a race which Pan-Asian insurer and industry gamechanger FWD Life Insurance title-sponsored this year......»»

Category: newsSource:  philstarRelated NewsApr 20th, 2018

IC approves Pru Life UK, Robinsons Bank sales deal

THE INSURANCE Commission (IC) has approved the bancassurance deal between Robinsons Bank Corp. and Pru Life UK. In a statement sent to reporters on Monday, the IC announced it has approved the partnership between the British insurer and the Gokongwei-led bank. “[The approval] will enable [Pru Life UK] to sell its traditional life insurance products […] The post IC approves Pru Life UK, Robinsons Bank sales deal appeared first on BusinessWorld......»»

Category: financeSource:  bworldonlineRelated NewsApr 16th, 2018

Allianz PNB celebrates many firsts in Iloilo

ONE of the world’s leading insurance firms, Allianz PNB Life, celebrated its many firsts in Iloilo with the opening of its Iloilo Regional Business Centerand two LifeTrack stations in Philippine National Bank branches on April 12, 2018. Dr. Olaf Kliesow, Allianz PNB Life president and chief executive officer, said the LifeTrack Stations, located in Jaro […] The post Allianz PNB celebrates many firsts in Iloilo appeared first on The Daily Guardian......»»

Category: newsSource:  thedailyguardianRelated NewsApr 15th, 2018

McGregor posts $50,000 bond, released after arraignment

    NEW YORK --- Cocksure and uncouth, Conor McGregor was never afraid to defy authority. He dressed in fur coats and swung chairs at news conferences, reaped the riches of his dalliance with boxing, and demanded his boss cut him an ownership stake in the MMA promotion that made him one of the sport's most notorious names. What McGregor wanted, McGregor got --- in cash, championships, and living his best luxe life. After one more decisive victory in New York, McGregor scaled the UFC octagon and draped two championship belts over his shoulder while a sold-out crowd roared in approval. In the underbelly of a New York arena 17 months later, McGregor went wild...Keep on reading: McGregor posts $50,000 bond, released after arraignment.....»»

Category: newsSource:  inquirerRelated NewsApr 7th, 2018

Sun Life keeps top spot in PH

SUN Life of Canada (Philippines), Inc. remains the number one life insurance company in the Philippines, according to a report released by the Insurance Commission. Sun Life sustained its leadershi Source link link: Sun Life keeps top spot in PH.....»»

Category: newsSource:  manilainformerRelated NewsApr 5th, 2018

Insurance Commission closes 5 non-life insurance firms

MANILA, Philippines — The Insurance Commission (IC) has shut down the operations of five non-life insurance companies due to their failure to comply with the.....»»

Category: financeSource:  philstarRelated NewsMar 15th, 2018

IC places five firms under conservatorship for failing to meet net worth requirement

THE INSURANCE Commission (IC) has shut down five non-life insurers for failing to meet the minimum net worth requirement. In a statement on Wednesday, IC said it shuttered the operations of five insurance firms, namely First Integrated Bonding & Insurance Co., Inc., Investors Assurance Corp., Metropolitan Insurance Company, Inc., Plaridel Surety & Insurance Co., and […] The post IC places five firms under conservatorship for failing to meet net worth requirement appeared first on BusinessWorld......»»

Category: newsSource:  bworldonlineRelated NewsMar 14th, 2018

Manila’s former envoy to US and ex-BSP gov Cuisia named chairman of FWD Life Philippines

Former Ambassador to the United States Jose L. Cuisia Jr has been appointed Chairman of the Board of FWD Life Philippines, one of the fastest-growing insurance companies in the country......»»

Category: newsSource:  interaksyonRelated NewsFeb 12th, 2018

Dutch Firm Hikes Stake in Cebu-Based Drugstore

Dutch firm Mulgrave Corp. BV has increased its stake in one of the country’s top drugstores, Rose Pharmacy. The Board of Investments (BOI) approved the Dutch firm’s plan to raise its ownership in Cebu-based Rose Pharmacy from 49 percent to 51 percent. “This reflects the sustained confidence of foreign investors in the country’s economy,” Trade […].....»»

Category: newsSource:  metrocebuRelated NewsFeb 12th, 2018