A drug to treat a rare muscle disease which affects some 20 children in the Netherlands a year should not be included in the basic insurance package unless the price is halved, government advisory group Zorginstituut Nederland has said in new recommendations.
In addition, pharmaceutical company Novartis should also agree to payment on the basis of the actual results, the institute said. Zolgensma, known as the most expensive drug in the world, is used to treat spinal muscular dystrophy (SMA) and costs €1.9m per treatment. The institute estimates that if the cost were halved, the drug would add some €11m to the Dutch healthcare budget a year.
Read more at:
World's most expensive drug may not be covered by Dutch insurance - DutchNews.nl
Showing posts with label Insurance. Show all posts
Showing posts with label Insurance. Show all posts
5/27/21
8/14/20
US health insurers doubled profits in second quarter amid pandemic
The enormous medical response in America to the coronavirus pandemic
has not put a drain on US health insurers, which doubled profits in the
second quarter of 2020 compared with the same time last year.
The US fight against the virus has been marked by overwhelmed hospitals, testing delays and personal protective equipment (PPE) shortages, but the high profits reported by some insurers have underlined concerns about America’s for-profit healthcare model.
Read more at:
US health insurers doubled profits in second quarter amid pandemic | US news | The Guardian
The US fight against the virus has been marked by overwhelmed hospitals, testing delays and personal protective equipment (PPE) shortages, but the high profits reported by some insurers have underlined concerns about America’s for-profit healthcare model.
Read more at:
US health insurers doubled profits in second quarter amid pandemic | US news | The Guardian
2/2/19
9/11/15
The Netherlands: Reinsurance Group Arm to Grow Life Insurance in Netherlands
Leidsche Levensverzekeringen Maatschappij N.V., the Netherlands-based life insurance subsidiary of Reinsurance Group of America, Incorporated (RGA - Analyst Report)
has agreed to purchase the life insurance policy portfolio of PGGM
Levensverzekeringen. However, the terms remain undisclosed. - See more
at:
http://www.zacks.com/stock/news/187335/reinsurance-group-arm-to-grow-life-insurance-in-netherlands#sthash.vk5S7FYZ.dpuf
Leidsche Levensverzekeringen Maatschappij N.V., the Netherlands-based life insurance subsidiary of Reinsurance Group of America, Incorporated (RGA - Analyst Report) has agreed to purchase the life insurance policy portfolio of PGGM Levensverzekeringen. However, the terms remain undisclosed.also based in the Netherlands, provides asset management, pension fund management and consultancy services to its institutional clients. Per the closed-block transaction, PGGM will transfer 75,500 life insurance policies to Reinsurance Group.
With the acquisition, the company’s portfolio run-off solutions will find a market in Europe. Plus, Reinsurance Group will benefit from the ‘realignment of the financial services industry’.
Reinsurance Group remains focused on strategic buyouts that strengthen its operations. Recently, the Zacks Rank #3 (Hold) insurer acquired Elite Sales Processing, Inc. in an attempt to bolster its underwriting business in the U.S. In April, the company bought Aurora National Life Assurance Company. Reinsurance Group’s strong liquidity supports its inorganic growth initiatives.
Reinsurance Group holds a niche position in the U.S. and Canada reinsurance markets. Moreover, the company is expanding its international operations to reap the benefits of diversification. It is poised to benefit from the changing life reinsurance pricing environment. Its expanding business in the pension risk transfer market also looks promising.
PGGM,
also based in the Netherlands, provides asset management, pension fund
management and consultancy services to its institutional clients. Per
the closed-block transaction, PGGM will transfer 75,500 life insurance
policies to Reinsurance Group.
With the acquisition, the company’s portfolio run-off solutions will find a market in Europe. Plus, Reinsurance Group will benefit from the ‘realignment of the financial services industry’.
Reinsurance Group remains focused on strategic buyouts that strengthen its operations. Recently, the Zacks Rank #3 (Hold) insurer acquired Elite Sales Processing, Inc. in an attempt to bolster its underwriting business in the U.S. In April, the company bought Aurora National Life Assurance Company. Reinsurance Group’s strong liquidity supports its inorganic growth initiatives.
Reinsurance Group holds a niche position in the U.S. and Canada reinsurance markets. Moreover, the company is expanding its international operations to reap the benefits of diversification. It is poised to benefit from the changing life reinsurance pricing environment. Its expanding business in the pension risk t - See more at: http://www.zacks.com/stock/news/187335/reinsurance-group-arm-to-grow-life-insurance-in-netherlands#sthash.vk5S7FYZ.dpuf
With the acquisition, the company’s portfolio run-off solutions will find a market in Europe. Plus, Reinsurance Group will benefit from the ‘realignment of the financial services industry’.
Reinsurance Group remains focused on strategic buyouts that strengthen its operations. Recently, the Zacks Rank #3 (Hold) insurer acquired Elite Sales Processing, Inc. in an attempt to bolster its underwriting business in the U.S. In April, the company bought Aurora National Life Assurance Company. Reinsurance Group’s strong liquidity supports its inorganic growth initiatives.
Reinsurance Group holds a niche position in the U.S. and Canada reinsurance markets. Moreover, the company is expanding its international operations to reap the benefits of diversification. It is poised to benefit from the changing life reinsurance pricing environment. Its expanding business in the pension risk t - See more at: http://www.zacks.com/stock/news/187335/reinsurance-group-arm-to-grow-life-insurance-in-netherlands#sthash.vk5S7FYZ.dpuf
Leidsche Levensverzekeringen Maatschappij N.V., the Netherlands-based life insurance subsidiary of Reinsurance Group of America, Incorporated (RGA - Analyst Report)
has agreed to purchase the life insurance policy portfolio of PGGM
Levensverzekeringen. However, the terms remain undisclosed. - See more
at:
http://www.zacks.com/stock/news/187335/reinsurance-group-arm-to-grow-life-insurance-in-netherlands#sthash.vk5S7FYZ.dpuf
Read more: Reinsurance Group Arm to Grow Life Insurance in Netherlands - August 21, 2015 - Zacks.com4/3/14
Ukraine Conflict: West’s targeted Russian sanctions ensnare investors
Elektrobudowa, a Polish firm that builds power plants, is interested
in buying its partner out of a Russian company they jointly own, but
there is a problem: the partner firm is owned by a pro-Moscow Crimean
politician on the EU’s sanctions list.
To buy out the partner would mean Elektrobudowa transferring cash or assets to the owners, and that, say lawyers who specialise in sanctions law, could be interpreted as a violation of the EU measures.
Many Western investors and their banks are facing similar quandaries after the imposition of targeted sanctions by the EU, the United States and a handful of other jurisdictions.
Those measures are supposed to punish Russia’s elite for annexing Crimea, but according to people advising companies in this field they have also spread confusion and created awkward predicaments for some foreign investors.
Finnish retailer Stockmann said this week it was freezing plans to open more department stores in Russian cities because of uncertainty and a falling rouble, and other investors may follow suit, either halting or cancelling projects.
A surge in net capital flight – mostly Russians sending their own funds abroad to avoid uncertainty at home – is one of the main factors prompting Russia’s central bank to warn that economic growth would likely fall below 1 percent this year.
Western banks involved in global commodity trade flows are also tightening payment procedures for deals with Russia, having already taken similar steps with Ukraine. Some banks now require, for example, that payment for exports of steel or grain be made only once there is proof cargoes have been loaded onto a vessel, as opposed to allowing the transfer of funds for material still in Russia or Ukraine.
“I have experienced huge concern in all the European companies I have been in contact with – both economic concern and about what happens next, regarding sanctions and retaliation,” said Lars Christensen, chief analyst at Danske Bank. “The customers are very, very scared. In fact, in 15 years I have never seen the customers this scared about political matters.”
Banks, stung in the past for failing to implement sanctions correctly, are particularly wary of falling foul of the rules and are being ultra-cautious about applying them.
U.S. bank JP Morganagreed to process a payment from Russia’s embassy in Kazakhstan to an insurance agency after initially refusing on the grounds that the agency was partly owned by a unit of Bank Rossiya, blacklisted by the White House.
JP Morgan’s initial ban caused uproar in Moscow. After consulting with U.S. regulators, the bank relented.
Meanwhile, Visa and MasterCard have resumed payment services for clients of another Russian bank, SMP, which they halted last month because its main shareholders were on the U.S. blacklist, although unlike Rossiya the bank itself was not. Visa said it was told by Washington to lift the restrictions.
Read more: Business Newswires : euronews : the latest international news as video on demand
To buy out the partner would mean Elektrobudowa transferring cash or assets to the owners, and that, say lawyers who specialise in sanctions law, could be interpreted as a violation of the EU measures.
Many Western investors and their banks are facing similar quandaries after the imposition of targeted sanctions by the EU, the United States and a handful of other jurisdictions.
Those measures are supposed to punish Russia’s elite for annexing Crimea, but according to people advising companies in this field they have also spread confusion and created awkward predicaments for some foreign investors.
Finnish retailer Stockmann said this week it was freezing plans to open more department stores in Russian cities because of uncertainty and a falling rouble, and other investors may follow suit, either halting or cancelling projects.
A surge in net capital flight – mostly Russians sending their own funds abroad to avoid uncertainty at home – is one of the main factors prompting Russia’s central bank to warn that economic growth would likely fall below 1 percent this year.
Western banks involved in global commodity trade flows are also tightening payment procedures for deals with Russia, having already taken similar steps with Ukraine. Some banks now require, for example, that payment for exports of steel or grain be made only once there is proof cargoes have been loaded onto a vessel, as opposed to allowing the transfer of funds for material still in Russia or Ukraine.
“I have experienced huge concern in all the European companies I have been in contact with – both economic concern and about what happens next, regarding sanctions and retaliation,” said Lars Christensen, chief analyst at Danske Bank. “The customers are very, very scared. In fact, in 15 years I have never seen the customers this scared about political matters.”
Banks, stung in the past for failing to implement sanctions correctly, are particularly wary of falling foul of the rules and are being ultra-cautious about applying them.
U.S. bank JP Morganagreed to process a payment from Russia’s embassy in Kazakhstan to an insurance agency after initially refusing on the grounds that the agency was partly owned by a unit of Bank Rossiya, blacklisted by the White House.
JP Morgan’s initial ban caused uproar in Moscow. After consulting with U.S. regulators, the bank relented.
Meanwhile, Visa and MasterCard have resumed payment services for clients of another Russian bank, SMP, which they halted last month because its main shareholders were on the U.S. blacklist, although unlike Rossiya the bank itself was not. Visa said it was told by Washington to lift the restrictions.
Read more: Business Newswires : euronews : the latest international news as video on demand
9/13/13
Russia: Car Industry - Independents vs dealership: the Russian market
The Russian market showed a dramatic increase in new car sales between 2009 and 2012, with approximately 95 per cent of these sold in dealerships.
It is estimated there are 14,000 businesses that carry out collision repairs in Russia, however they range in quality from state-of-the art, dealer based bodyshops to unregistered independent garages.
There are very few independent bodyshops in Russia ,most bodyshops are part of the dealership sector.
Of the 4,250 dealerships 76% declare they have their own bodyshop.
Read more: Independents vs dealership: the Russian market
It is estimated there are 14,000 businesses that carry out collision repairs in Russia, however they range in quality from state-of-the art, dealer based bodyshops to unregistered independent garages.
There are very few independent bodyshops in Russia ,most bodyshops are part of the dealership sector.
Of the 4,250 dealerships 76% declare they have their own bodyshop.
Read more: Independents vs dealership: the Russian market
7/8/13
Europe floods caused €4.5bn of damage, says Swiss Re
The devastating floods that hit central and Eastern Europe last month caused up to $4.5bn (£3bn) in losses for the insurance industry, said re-insurance group Swiss Re.
Swiss Re meanwhile welcomed the fact that local flood prevention measures had spared many regions from large losses, as in Prague, where mobile flood barriers saved most of the city from significant flooding.
Read more: Europe floods caused €4.5bn of damage, says Swiss Re - Telegraph
Swiss Re meanwhile welcomed the fact that local flood prevention measures had spared many regions from large losses, as in Prague, where mobile flood barriers saved most of the city from significant flooding.
Read more: Europe floods caused €4.5bn of damage, says Swiss Re - Telegraph
5/30/13
Europe to tackle Spain in health insurance row
The European Commission is launching legal action against Spain over the refusal of some hospitals to recognise the European Health Insurance Card.
The EHIC entitles EU citizens to free healthcare in public hospitals.
But some Spanish hospitals rejected the card and told tourists to reclaim the cost of treatment via their travel insurance, the Commission says.
Read more: BBC News - Europe to tackle Spain in health insurance row
The EHIC entitles EU citizens to free healthcare in public hospitals.
But some Spanish hospitals rejected the card and told tourists to reclaim the cost of treatment via their travel insurance, the Commission says.
Read more: BBC News - Europe to tackle Spain in health insurance row
8/27/12
Health Care USA: Presidential elections - Debate: Romney Vs. Obama - by C. Woodward and R. Alonso Zaldivar
President Barack Obama promises nothing will change for people who like their health coverage except it'll become more affordable, but the facts don't back him up. Mitt Romney groundlessly calls the health care law a slayer of jobs certain to deepen the national debt.
Welcome to the health care debate 2.0. As the claims fly, buyer beware.
After the Supreme Court upheld the law last week, Obama stepped forward to tell Americans what good will come from it. Romney was quick to lay out the harm. But some of the evidence they gave to the court of public opinion was suspect.
A look at their claims and how they compare with the facts check out the link below:
Read more: Insurance News - ACA Debate: Romney Vs. Obama
Welcome to the health care debate 2.0. As the claims fly, buyer beware.
After the Supreme Court upheld the law last week, Obama stepped forward to tell Americans what good will come from it. Romney was quick to lay out the harm. But some of the evidence they gave to the court of public opinion was suspect.
A look at their claims and how they compare with the facts check out the link below:
Read more: Insurance News - ACA Debate: Romney Vs. Obama
6/20/12
Syria: Dutch help block weapons delivery to Syria
The Dutch navy was involved in the international effort to stop a potential weapons delivery to Syria, according to caretaker Minister of Foreign Affairs Uri Rosenthal.
The British Minister of Foreign Affairs William Hague says the ship in question, the MV Alaed, is on its way back to Russia. There are indications that the ship is loaded with weapons, including attack helicopters. It does not appear that the MV Alaed sailed into Dutch waters but Minister Rosenthal says the Netherlands played its role in the EU weapons embargo against the Syrian regime.
The MV Alaed is registered on Curaçao, one of the countries within the Kingdom of the Netherlands. Via authorities on Curaçao, an attempt was made to inspect the ship. The crew did not submit to the request for inspection and the MV Alaed subsequently disappeared from radar, after the signaling system was turned off. “This led the insurance company to revoke the ship’s coverage,” according to Rosenthal.
There is no international weapons embargo against the Syrian regime, which means Russia is allowed to sell weapons to Syria. But the EU has implemented a weapons embargo, which prohibits insurance companies from providing coverage for ships carrying weapons to Syria. Uninsured ships are not allowed to enter most ports, which means they must either continue sailing in international waters or return to the port from which they departed.
Read more: Dutch help block weapons delivery to Syria | Radio Netherlands Worldwide
The British Minister of Foreign Affairs William Hague says the ship in question, the MV Alaed, is on its way back to Russia. There are indications that the ship is loaded with weapons, including attack helicopters. It does not appear that the MV Alaed sailed into Dutch waters but Minister Rosenthal says the Netherlands played its role in the EU weapons embargo against the Syrian regime.
The MV Alaed is registered on Curaçao, one of the countries within the Kingdom of the Netherlands. Via authorities on Curaçao, an attempt was made to inspect the ship. The crew did not submit to the request for inspection and the MV Alaed subsequently disappeared from radar, after the signaling system was turned off. “This led the insurance company to revoke the ship’s coverage,” according to Rosenthal.
There is no international weapons embargo against the Syrian regime, which means Russia is allowed to sell weapons to Syria. But the EU has implemented a weapons embargo, which prohibits insurance companies from providing coverage for ships carrying weapons to Syria. Uninsured ships are not allowed to enter most ports, which means they must either continue sailing in international waters or return to the port from which they departed.
Read more: Dutch help block weapons delivery to Syria | Radio Netherlands Worldwide
5/11/11
Tourism: Travelers to Europe Advised To Purchase Global Travel Insurance
It could therefore be advantageous for US and Canadian travelers who are visiting Europe to carry temporary travel insurance to cover possible unforseen calamities that may require accident, life and health insurance coverage. Travelers to Europe would be well advised to check with local insurance companies if their present insurance policy includes global travel coverage.
Travelers to Europe Advised To Purchase Global Travel Insurance
3/16/10
Dutch Insurer Eureko Scales Down Europe Ambitions
Eureko BV, the Netherlands' largest insurer by gross premiums, Tuesday said it will focus on making its Dutch businesses less complex and more efficient as it is scaling down its ambitions to expand in Europe after a failed attempt to turn Poland into its second home market. After years of growing through mergers and acquisitions, nonlisted Eureko wants to focus on reducing the complexity of its operations in the Netherlands while making better use of economies of scale , Chief Executive Officer Willem van Duin said in an interview with Dow Jones.
For the complete report: 2nd UPDATE: Dutch Insurer Eureko Scales Down Europe Ambitions - WSJ.com
For the complete report: 2nd UPDATE: Dutch Insurer Eureko Scales Down Europe Ambitions - WSJ.com
10/23/07
Swissre.com: Insurance Industry EU: Solvency II details of the Directive currently under preparation in the EU are expected to be implemented by 2010
For the complete report from Swissre.com click on this link
Insurance Industry EU: Solvency II details of the Directive currently under preparation in the EU are expected to be implemented by 2010
In an article for Insurance Day, Swiss Re economists Patrizia Baur and Rudolf Enz explain how the shift from uniform to risk-adequate capital charges will affect different lines of insurance based on their volatility and catastrophe exposure. They also discuss stricter assessment and capital requirements for additional product features such as options to waive premiums and investment guarantees. The article concludes that Solvency II will benefit both policyholders and insurers by reinforcing the focus on the fundamentals of risk and return.
7/16/07
CNNMoney: AEGON: Proposed EU Solvency II Directive Will Strengthen Europe's Insurance Industry
For the complete report from CNNMoney click on this link
AEGON: Proposed EU Solvency II Directive Will Strengthen Europe's Insurance Industry
AEGON welcomes the publication of the European Commission's proposed new Solvency II framework directive. If adopted, AEGON believes this proposed directive would lead to the creation of one of the most advanced and effective solvency and supervisory systems in the world, strengthening the European insurance industry and enhancing its overall competitiveness.
"Solvency II will strengthen Europe's insurance industry by creating an environment that encourages sound risk management based on economic principles," said Jos Streppel, Chief Financial Officer and member of the Executive Board of AEGON N.V. "Solvency II will bring benefits to all the industry's stakeholders, particularly to its many millions of customers and policyholders. With this new proposed directive, Solvency II will also allow insurance companies to manage their capital more efficiently."
AEGON has long supported the Solvency II process and, in the months to come, will continue that support. AEGON believes Solvency II will ensure not only more effective risk and capital management but also clearer, more harmonized industry regulation and a more level playing field for Europe's insurers.
2/27/07
Business Insurance: Fast growing Turk insurers grab foreign attention
For the compltete report from the Business Insurance click on this link
Fast growing Turk insurers grab foreign attention
Turkey's small but fast-growing insurance sector is coming onto foreign investors' radars and at least four deals are on the table in the fragmented sector. European Union candidate Turkey is attracting foreign investors with strong economic growth, a fast growing population of over 70 million and increasing wealth.
But insurance premiums far outstripped overall growth of around 5% last year, and inflation of 10%, growing 20% to 9.4 billion lira ($6.79 billion), according to data from industry association TSRSB. There is still room for more growth as Turks are very underinsured: non-life premiums account for around 1.4% of the overall economy compared to 2.6% in Europe.
2/5/07
Czech Busiess: Czech Republic: Leaky ship cripples health services - by Pavel Vepřek
For the complete report from Czech Business click on this link
Czech Republic: Leaky ship cripples health services - by Pavel Vepřek
"Compared to what’s evident in other post-communist countries, our health service is functioning wonderfully and is, in essence, capable of securing the availability of necessary health care for all citizens. In fact, in certain areas, as with infant mortality for example, the service manages to achieve results on the same level to those achieved in the world’s top league. Also, with respect to its indebtedness, things aren’t as bad as they sound.
The financing of the health care system was transferred from the state to insurance companies that compete with each other, and the provision of health services was interspersed between different independent entities. With the introduction of modern technologies into a prepared environment, we’ve at least technically caught up with the developed world; for some time it seemed that the Czech health service wouldn’t only serve as a good example of successfully conducted reform, but would also become a destination of choice for foreign patients not satisfied with the services provided to them at home. It wasn’t, alas, to happen. In response to yet more changes — which were lacking momentum anyway — weariness had set in, and a growing nostalgia calling for past certainties meant that the reform was given some time out for rest on the bench."
Subscribe to:
Posts (Atom)