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American insurance company Prudential Financial Inc. has for the first time lowered dividends against the loss in the third quarter.
The company will start to pay dividends at the rate of 58 cents per share since December, 19th.
Last year the company has paid dividends at the rate of 1,15 dollars per share. Earlier the company increased dividends every year, since primary placing of shares in 2001.
Decrease in dividends is caused by depreciation of company’s actives that has negatively affected the capital.
Last month the company has stopped the repayment of own securities and has fixed the pure loss in the third quarter at the rate of 166 million dollars.
Analysts from Goldman Sachs Group Inc prove that within the following of 12-18 months the situation with actives for the US companies, which are engaged in life insurance, will continue to get worse.

Within nine months of this year, in comparison with last year’s indicators, the volume of insurance charges, got by the Latvian insurance companies, has grown on 14 %. Such information has been given by Associations of insurers of Latvia (Latvijas Apdro Å¡ inātāju asociācija, LAA).
For the same period the volume of insurance indemnities has grown on – on 50 %. As a whole, within nine months of this year insurance societies of Latvia have paid to clients on 15% more of payments.
In comparison with the year for nine months of this year the volume of the signed insurance premiums has grown on 19 % and volume of payments – on 42 %.

Torbjörn Magnusson, chairman of Estonia’s largest insurer If P&C Insurance Holding Ltd considers insurance as stable business, which present crisis will not affect.
According to the words of member of board ERGO Marek Zacek, economic recession equally influences all spheres, including insurance. First of all, it is reflected in reduction of insurance portfolio growth, after all people buy less real estate, cars and so forth
On the other hand, recession causes growth of insurance swindle. Also because of problems with the insurance companies’ liquidity the pressure upon cost of services of the companies can increase, that, in turn, can lead to problems with insurance payments.
Torbjörn Magnusson considers, that insurance business will continue to grow. According to his words absorption will not take place; however, merges are quite possible.
If now approximately 25 % of inhabitants of Estonia do not have any insurance police, the next years this figure, most likely, will be reduced. Magnusson is sure, that in 20 years in Estonia all houses and apartments will be insured.

Referring to words of a member of supervisory council Christopher Wolf informs that Austrian insurance group Vienna Insurance Group has increased the share in the authorized capital of Georgian insurance company IRAO from 51 % up to 90 %.
At the briefing in Tbilisi it has been also noted that August events in Georgia should be reflected in the insurance market of the country, first of all from the point of view of increase of risks.
In turn, IRAO general director of has noted, that support of the Austrian partner will allow the company to expand business, to introduce new insurance products and to keep in the lead positions in the market.
International insurance company IRAO was founded in 2004. The company specializes on energy objects insurance.
In I half-year of 2008 IRAO has received $19,7 million of premiums, that on 28 % more then in all 2007. Now the company borrows 14,6 % of the insurance market of Georgia.
in December, 2005, Vienna Insurance Group has entered into number of IRAO founders, when Georgian holding GPIH (Georgian Pension and Insurance Holding), entering into group Vienna Insurance Group, has got 51 % IRAO. The Austrian group possesses 50 % of GPIН’s shares.

On October, 9th,  in Luxembourg Ministers of transport of 27 countries-members of the European Union have reached the agreement, according to which, reaching the seaports in territory of this regional organization captains of all without exception of courts will be obliged to show the ship insurance.
In case of insurance certificate absence, the port administration will have the right to forbid mooring of uninsured sea transport, having notified about it all European port terminals.
New rules of safe navigation, predictably, will be approved by EU institutes up to the end of December.

According to the representatives of Financial Services Agency (FSA) one of the basic insurance companies of Japan Yamato Life Insurance will submit on registration of protection against creditors according to the law on bankruptcy.
Thus, the company became the first insurer of the country, which will not cope with financial problems on background of going deep world crisis.
Representatives of service agency quote that the official representatives (companies) of Yamato and FSA have already applied for registration.
On tentative estimations, the sum of debts of the insurance company makes nearby 2,73 billion dollars. Under the law, for the subsequent financial improvement of the company the special decision of court is required.

The division of company Berkshire Hathaway – Kansas Bankers Surety (KBS) – has declared about the termination of insurance of the American bank deposits over the volumes, guaranteed by the government.

KBS – the affiliated structure of the company – has informed more than one and a half thousand banks of the USA that it will not offer the program of deposits guarantee any more.

The Wall Street Journal writes that Berkshire Hathaway’s decision may be connected with a situation in USA bank sector. So, from the beginning of year 11 regional banks have already gone bankrupt.
KBS has had in loss after Columbian Bank and Trus was ruined. As The Wall Street Journal marks, such decision will affect financial system of the USA.

The attention for the first time has been involved in a safety issue of lodgments after Californian IndyMac bankruptcy. Deposits in this bank, which bankruptcy became the largest during the crisis, have made nearby 19 billion dollars, and, according to FDIC, almost 95% of them were lodgments in volume of less than 100 thousand dollars, payments on which have laid down on the state insurer. In the end of August FDIC has already informed, that the number of problem American banks has grown on 30 % – from 90 up to 117.

In connection with business and partner network expansion in Ukraine and Russia Company Fadata, the leading supplier of software for the insurance companies, has signed partner contracts with the companies «Borlas Ukraine» and also with company EPAM Systems (Russia).
Bulgarian company Fadata, based in 1990, is the leading supplier of program decisions for the insurance companies worldwide. Fadata has successfully developed by market product INSIS (Insurance Integrated System) – flexible modular decision, which provides complex automation of insurance business.
Fadata also offers services on introduction Applications and FileNet Oracle, development of greater information systems for a state sector and to IT-consulting. Central office of the company is located in Bulgaria, thus the distribution and partner network covers about 20 countries, including Ukraine and Russia. The client base totals over 110 companies in different countries.

Lloyd’s has submitted inquiry about reception of licenses about realization of activity in Austria, Portugal and Czech Republic.
As Enrico Bertana, Lloyd’s director in the Europe, marks, Lloyd’s is widely presented in the Western Europe. But they also realize opportunities which are offered by the market of the East Europe, on which presence Lloyd’s has the limited character.
Bertana has also added that in following year Lloyd’s will search for opportunities of coming to the new markets of the countries of the East Europe, such as Hungary, Romania and Turkey.
Let’s remind, in March of current year Lloyd’s management has appointed Vitold Yanush on the post of the representative in Poland. His primary goal was reception of the license.

Berkshire Hathaway Inc has declared that in II quarter its profit has reduced on 8 % because of deterioration of results of business of insurance.
The net profit of the insurance and investment company has reduced up to 2,88 billion dollars in comparison with 3,12 billion dollars in II quarter 2007.
The operational profit has decreased on 10 % – up to 2,27 billion dollars from 2,51 billion dollars in II quarter 2007.
The proceeds have grown on 10 % up to 30,09 billion dollars.
The profit of insurance business has fallen on 43 % – up to 360 million dollars though premiums have increased on 5 % – up to 6,23 billion dollars.
Incomes from investments in II quarter have grown on 3 % – up to 884 million dollars, and the profit on business except for insurance has grown on 4 % – up to 1,09 billion dollars.