Allianz could sell its Indian ventures
Global insurer Allianz may be about to sell its joint ventures in India having failed to increase its stake in the firms.
Bajaj Finserve, the majority partner in the two ventures - Bajaj Allianz Life Insurance Co. Ltd and Bajaj Allianz General Insurance – is set to buy the 26 per cent of each that it does not already own, according to Livemint.com sources.
Allianz tried in 2015 to increase its stake in the ventures to the maximum 49 per cent permitted under Indian law but the firms could not agree a price. If this new deal goes ahead it will be one of the largest ever in the country’s insurance sector.
This insurance line is expecting growth
Title insurers are expecting their part of the insurance business to continue to see strong growth over the next 12 months.
The Real Estate Sentiment Index, a survey of independent title insurers by First American Financial Corporation, revealed a 17.3 per cent rise in growth expectations for all property types over the year ahead.
The sentiment for purchase applications was up 12.9 per cent while the measure for refinance applications was up 23.2 per cent.
“Overall, title agents are significantly more optimistic than last quarter about the volume of both purchase and refinance transactions in the year ahead,” said Mark Fleming, chief economist at First American.
Insurance veteran retires after 50 years, 40 with same brokerage
An insurance agent from Columbia, TN has retired after half a century of service to the industry.
William E. “Bill” Smith started his career as an underwriter at United States Fidelity & Guaranty Company in Nashville, but has spent the past 40 years with independent brokerage Redman-Davis Inc.
“His knowledge and professionalism will certainly be missed,” Chad Williams, president of the firm told the Columbia Daily Herald.
