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Spinning shells into gold

Article Abstract:

States are beginning to permit the shells of failed insurance companies to be sold, resulting in more funds for the liquidation estate and a time savings for the purchaser. For example, Toyota Motor Co purchased the shell of the failed Iowa National Mutual Insurance Co for $2 million rather than start the licensing process for Toyota Motor Insurance Co from scratch. States drafting legislation are recommended to permit shells to be sold without liabilities, and to allow reinstatement rather than require relicensing.

Motor vehicles and car bodies, Planning, Laws, regulations and rules, Mergers, acquisitions and divestments, Automobile industry, Toyota Motor Corp., Licenses, Insurance law, Liquidation, Shell companies, Iowa National Mutual Insurance Co., Toyota Motor Insurance Co.

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Karachi

Article Abstract:

The Pakistani economy is flourishing under Nawaz Sharif; economic reforms resulted in an increase in the gross domestic product, exports and foreign investment. One of the ways Pakistan is promoting joint ventures between foreign investors and local companies is to hold conferences on industrial and economic policy. In 1991, some Pakistani insurance companies showed losses, but most did well and paid substantial dividends. However, crime and the resultant costs continue to be a problem for insurers.

Column, Economic policy, Pakistan, Sharif, Nawaz

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Eastern Europe beckons

Article Abstract:

The East European insurance market remains a significant risk because of political, racial and economic problems. Issues such as the falling infrastructure in countries such as Poland and Hungary, regional disputes that continue between racial groups such as the Serbians and Croatians in Yugoslavia, and no common currency have led insurers to question the stability of the region. Prudent investors in the Eastern Europe market will move slowly and steadily.

Investments, Eastern Europe, Europe, Eastern

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