GAI Introduced EMS

April 21st, 2009 admin

great american insurance logo1 GAI Introduced EMSGreat American Insurance (GAI) Group introduced Equipment Management Solutions (EMS). It is a latest business service technology specializing in EMMS. EMMS stand for Equipment Maintenance Management Services.

To say about the service in a statement, the company said EMS

  • Offers new means of businesses
  • Consolidate numerous equipment maintenance contracts
  • Extended warranties into 1  inclusive multi-vendor service contract

EMS focuses on organizations and businesses with significant

  • Medical Service
  • Monetary
  • Communication Facility
  • Latest Information Technology
  • Office Equipment Inventories

EMS targeted markets include

  • Hospitals & Clinics
  • Banks & Credit Unions
  • Media & Broadcasting Companies
  • Colleges & Universities
  • State & Municipal Government Agencies
  • Some Other Businesses & Institutions

EMS is branch of Ohio-based Great American’s Premier Lease & Loan Services Division. It is run by industry veteran Michael St. Hilaire. In the past St. Hilaire handled the equipment maintenance program (EPM) that was presented by Executive Risk. At present, it is component of Chubb. However, St. Hilaire manufactured separately and run EPM as well for some years.

Four Saudi Insurance Firms Launch IPO

April 20th, 2009 admin

On Saturday, four insurance firms of Saudi Arab start on initial public offerings (IPO) to lift a whole of 260 million riyals or $69.3 million.

The firms are AXA for Cooperative Insurance, Weqaya Takaful Insurance and Reinsurance, ACE Arabia Cooperative Insurance Company and Al-Rajhi Company for Cooperative Insurance. The share will be launched jointly by the four firms. The suggest cost will be 10 Saudi riyals per share and in a press statement the CMA said duration of launch will be from April 18 to April 27.

Wiqaya Takaful Insurance Company and Re-insurance and AXA Cooperative Insurance Company will present 8 million shares or 40 percent stake each, and the amount of share of Ace Arabia Cooperative Insurance Company will 4 million shares which is equal to 40 percent stake. Others, the amount of offers by Al Rajhi Company for Cooperative will 6 million shares or 30 percent.

In the global economic downturn it is great news for the capitalist of Saudi Arab that some of insurance firms are coming towards to launch their share while quite a few Saudi companies have had to suspend plans to sell their shares to the public.

STC Plans Health Insurance for Employees & Families

April 20th, 2009 admin

stc logo STC Plans Health Insurance for Employees & FamiliesSaudi Telecommunications (STC) invited proposals to offer its large workforces and their family members’ health insurance. The offer is considered as most lucrative insurance policies across the Middle East. STC current employs around 20,000, but company spokesman Mohammad Al Faraj said: “Staff family members bring the total number of STC health insurance beneficiaries close to 90,000 people.”

Only the Saudi central bank authorized health insurance firms can take part in the tender. The company said it in the tender announcement that published in nearly all Saudi newspapers last Saturday. STC set a deadline (May 19) for the submission of this bids. Saudi Arabia (KSA) has again and again delayed plans to get health insurance scheme compulsory for employers in the country. Secretary-general of the Co-operative Health Insurance Council Abdullah Al Sharief said in January the plan will be applied in six months for more than 1.5 million Saudis private sector’s employees and their families.

Janice Tomlinson: Insurance Woman of the Year

April 9th, 2009 admin

chubb7604 Janice Tomlinson: Insurance Woman of the Year“Insurance Woman of the Year” title is bagged by Janice Tomlinson. She is Executive Vice President and international field operations manager of Chubb Group. The Association of Professional Insurance Women Inc. (APIW) has picked her name for 2009. Ms. Tomlinson has been served for Chubb since 1973. She achieved several successes during serving several post for the group. 1995 to 2003 she was the chairman and president of Chubb’s Canadian business operations.

Current Responsibilities:

  • Responsible for earnings and loss on a $2.9 billion book of business in different 28 countries
  • Managing more than 50 offices
  • Supervising nearly 2,500 employees
  • Advocating work-life balance to help women develop into leaders
  • Establishing the Life-Flex Program

Flashback of APIW:

In the year of 1976, APIW first presented Insurance Woman of the Year Award. The Award goes to that woman who is

  • Exceptional
  • Achieved prominence in profession
  • Made important contributions to the insurance industry

Award ceremony will be hosted by the group with a warm cocktail reception honoring her on June 17 in New York.


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