Thursday, March 26, 2015
Breaking Financial News
1. Asteron receives A+ rating from Standard and Poor's. - Good Returns
Asteron, New Zealand's fourth largest life insurer received a confirmation of its strong market position as S & P granted it an A+ rating for financial strength. New business has increased 14% to build further upon their 41% increase of the previous year.
2. New pandemic insurance to prevent crisis with early payouts. - Yahoo! New Zealand
In the past, governments have been forced to raise funds in the aftermath of disease outbreaks. The World Bank, the African Union and other financial institutions are attempting to circumvent this by designing insurance schemes which will pay out immediately as an outbreak happens, providing the funds to better manage the crisis before it fully takes hold.
3. Celebrities insuring their body parts for up to $40 million. - MTV.com
According to celebrity insiders, Taylor Swift's legs are worth $40 million and Kim Kardashian has had her derriere insured too. Famous singers have insured their voice and piano players have insured their fingers through brokers for a princely sum.
4. Southern Cross axes 'trivial' Travel Insurance Excess. - NZ Herald
In great news for travellers and Southern Cross members, Southern Cross have removed the $100 excess for travel insurance claims, calling the amount 'trivial' and unnecessary. Southern Cross hoped that the removal of the excess would encourage travellers to seek medical attention for minor ailments.
5. Crowded Kiwisaver market sparks concern. - Good Returns
With so many Kiwisaver providers on the market, fears are arising that things as they are will become unsustainable. A major expert in the field says that he could imagine a future with only a few large providers with multi-sector portfolios.