WASHINGTON (AP) — Two Senate rebels jumped into Congress’ cut-the-deficit competition on Tuesday, proposing to raise the age of Medicare eligibility to 67 and increase monthly premiums for millions of current beneficiaries.
“We can’t save Medicare as we know it,” said Sen. Joseph Lieberman, I-Conn., who authored the plan with Republican Sen. Tom Coburn of Oklahoma. “We can o
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Beijing, 29 June – China Development Bank (CDB), one of the country’s three policy Banks, signed a memorandum with Taiwan Cooperative Bank on Wednesday [29 June] to further strengthen cross-border trade and investment.
According to the memorandum, the two Banks will cooperate in program financing, joint lending, corporation credit, risk management and personnel training.
The CDB has extended 50.6 billion yuan (7.78bn dollars) to Taiwan-funded enterprises since 2005, Li Jiping, vice president of CDB, said at the memorandum singing ceremony, adding that the lender will continue to support mainland investors to invest in Taiwan.
Taiwan Cooperative Bank, the second largest bank in the island, started its first mainland branch in the city of Suzhou, Jiangsu Province, last year. The
The Association of British Insurers (ABI) has joined with health organisations and charities to urge the Government to “grasp the nettle” over care for the elderly.
In an open letter to The Daily Telegraph, 10 signatories argue that the UK’s current system of care provision is “complicated, expensive and under-funded”.
The letter states: “The uncertainty that has resulted from years of debate and no solid settlement means that people do not know what they should be doing to save or prepare and many use all of their savings and assets to cover their care costs as a result.”
The signatories want clarity over the future role of charities, insurers and individuals in long-term care, at the same time warning that it would be “catastrophic” if the forthcoming report from the Dilnot Commission on funding of care resulted in no action at all.
Government figures show that one in four of the UK’s sixteen-year-olds can expect to celebrate their hundredth birthdays, and the ABI and others are calling for the questions raised by longer life expectancy to be taken out of the “too difficult” pile and addressed.
Arthur J. Gallagher & Co. today announced the acquisition of ITI Solutions Pte Ltd , located in Singapore. Terms of the transaction were not disclosed. ITI is a specialist insurance broker with expertise that includes marine cargo, political risk, trade credit risk, and specialty lines. In addition, they are licensed to place business in the regional Asian reinsurance markets. Going forward, ITI will trade internationally as Gallagher Singapore. Freddie Lim, Lilian Seet, and their associates will continue to operate in their current location under the direction of David Ross, CEO of Gallagher’s London-based international brokerage operation. “P Read full post…
In a recent article by Darla Mercado in Investment News, “Other VA players may follow Genworth out door” she reports on the motivators behind company decisions to leave or reduce their activity in the VA market and low interest rates lead the list. Quoting Clark Troy, an analyst with Aite Group, LLC, the article states: “If we stay in a low-interest-rate environment, I wouldn’t be surprised to see more carriers pull out of or de-emphasize the issuance of variable annuities.”
One of the factors that some analysts looked to as warning signs that carriers are scaling back VAs is the lack of product development. As someone who sees a lot of products before they get filed for approval, I was particularly interested in this piece of the analysis.