He explained that the promotion of both life and nonlife
products as risk mitigation tools in the campaigns of the government is just one of many.
topped the nonlife
insurance sector last year in terms of net premiums written, the Insurance Commission (IC) said Tuesday.
Outside of the United States, the insurance industry is divided into life and nonlife
, or general insurance, rather than life/health and property/casualty.
Global Banking News-December 17, 2013--Philippine regulator wants cuts in taxes on nonlife
insurance, markets insurance products mainly through banking subsidiaries of Getin.
The world's insurance premium income grew 3.3% in real terms in 2007, reaching $4.061 billion, primarily driven by the life business in industrialized and emerging markets, and to a lesser extent by the nonlife
business in the emerging markets, according to the latest Swiss Re sigma study.
premiums in Indonesia, the country hardest-hit, amount to just $8 per person.
insurance companies are tax exempt if premiums written for the year do not exceed $350,000), (2) Sec.
''Aside from the recent lowering of Japan's sovereign rating, the downgrade on the parent entity reflects the group's modest underwriting performance, particularly relative to its major industry peers, as well as the uncertain and competitive environment surrounding the nonlife
(insurance) industry in Japan,'' the agency said.
Standard & Poor's (S&P) said Wednesday it will maintain its negative outlook on the Japanese nonlife
insurance sector following the disclosure of the industry's financial results for the year to March 31.
There has been a continuing struggle between those who feel that life is something fundamentally different from nonlife
and obeys different laws of nature (vitalism), and those who believe that one set of natural laws governs everything, life and nonlife
Malayan Insurance is the leading nonlife
insurance company in the Philippines, rated by AM Best, a global rating authority for the insurance industry.