(Reuters) - Maurice "Hank" Greenberg, former chief executive of American International Group (AIG.N: ), said on Tuesday he sees more trouble in the credit crisis that has been gripping global markets in recent months.

"There is more to come. I don't think it is all over," he said in an interview on business channel CNBC.

"Some of the capital raising that has gone on in the last couple of days has given some optimism, but some will say it was a dead cat bounce. There is some volatility that still exists," he added, after U.S. stock markets surged on Tuesday.

Greenberg, who now runs two companies that were once closely affiliated with AIG, said he did not see Tuesday as a day to buy, but does see opportunities for investments around the world, including in the United States, and particularly for foreign buyers.

Greenberg told Reuters last month that Starr International Co Inc, one of the companies he runs, had inked a $900 million Russian real estate deal, and saw more opportunities there, and elsewhere, including Asia and Brazil.

Greenberg, who parted ways with AIG in 2005 amid an accounting scandal, has for the past three years been caught up in a legal battle with his former employer. One of the things at issue is ownership of a large block of shares held by Starr International.

In a fresh lawsuit filed last week against Greenberg and six other former directors and officers, AIG alleged the defendants had breached their fiduciary duty through "misappropriation of a special block of AIG shares worth approximately $20 billion in 2005."

On Tuesday, Greenberg told CNBC it was "a matter for the courts" but questioned whether management was more engaged in litigation than business matters.

"Our management is fully engaged in running the business, leaving our litigators to handle litigation," said AIG spokesman Chris Winans. "The common goal is protecting shareholders' interest."

Greenberg, on CNBC, questioned whether AIG could have further write-downs, after it wrote down the value of a derivatives portfolio by $11 billion, leading to a record $5.3 billion loss in the fourth quarter.

"Is it over?" Greenberg said in the CNBC interview. "How do you know what is next?"

(Reporting by Lilla Zuill, editing by Richard Chang)

© Reuters 2008 All rights reserved

"Today, Long Term Care Insurance is sold primarily by specialist agents to a niche market of affluent and risk-averse seniors," said Terence Martin, analyst at Conning Research & Consulting. "Over the past few years long term care sales growth has declined in both individual and group markets despite the best efforts of insurers. We have sized the potential market for Long Term Care Insurance and estimate that the current industry penetration is just 9 percent." 

The Conning Research study, "Long Term Care Insurance: Searching for the Value Proposition," quantifies the market need and potential market scope, and identifies the current product features and pricing challenges. Further, the study presents potential industry responses to flagging growth.

"Despite considerable product innovation over the past few years, the Long Term Care Insurance industry's solutions still do not resonate with the broader market," said Stephan Christiansen, director of research at Conning. "Incremental product and pricing innovation and consumer education continue in an attempt to bridge this gap, but it is likely not enough to ensure significant consumer understanding and acceptance. It may well be time for the industry to rethink the entire product offering in an effort to break new ground and change the value proposition."

"Long Term Care Insurance: Searching for the Value Proposition" is available for purchase from Conning Research & Consulting, by calling (888) 707-1177 or by visiting the company's web site at http://www.conningresearch.com.

THE TIME EFFECTIVE WAY TO STAY AHEAD  

• Hurricanes still the top US act of nature risk says EMB
• CGI and Sapiens announce partnership to integrate Ratabase
• Brown & Brown acquire Californian broker
• First thoughts from Matras on joining Groupama Insurances
• GAINSCO deploys Guidewire
• RSA acquires Sertus Underwriting
• Conseco reports net loss
• Clear Life launched in the UK
• Flexible retirement products represent the biggest industry challenge predicts Mastek
• Lloyd's continues progress on business process reform
• Friends Provident turn down JC Flowers offer but...
• Global takaful insurance growing
• 2nd Asian Insurance CFO Summit
• Giles acquires in Surrey
• Swinton buys in Kent
• Paulson pushes for US federal option for insurers
• Zurich acquires interest in Spain
• Glacier Re commences underwriting in London
• Snapshots Brazil Life Insurance 2008
• Tawa gets nod on PXRE acquisition
• Zurich partners with TomTom in the UK
• Further expansion by Aviva Life in India
• China Re opens in London
• Aviva recruits new European ceo
• Capita moves for specialist broker
• Towergate and Candover call off talks
• NAIC moves on US reinsurance regulation reform

By Jennifer Ablan - Analysis

NEW YORK (Reuters) - Investors have grown so inured to calamitous reports about global credit markets that they have taken to spinning fresh bouts of bad news into fits of irrational exuberance.

Tuesday's rally in U.S. and European stocks could serve as a veritable case study in this nascent reversal of investor psychology. After all, the day's two big catalysts for the 391-point gain in the Dow Jones industrial average .DJI -- a $4 billion stock offering from Lehman Brothers and a $19 billion bad debt write-down by UBS -- would have sparked panic almost any other day.

Instead investors chose to see it as one bedraggled U.S. investment bank get a much needed market endorsement and a Swiss bank scrubbing its balance sheet clean.

"An important personality change has occurred in the stock market in that bad news is no longer killing the stock market," said Al Goldman, chief market strategist at Wachovia Securities, in St. Louis. 

It was only two weeks ago that analysts and investors marked the beginning of the bottoming process with the stunning collapse of Bear Stearns (BSC.N: ).

But to conclude that Tuesday's monstrous rally with the Dow's leap of 391 points is the resumption of a bull market is, well, a bit premature.

Strains still exist in the U.S. credit and banking markets.

"We are still in a banking crisis," said Chris Orndorff, who helps oversee $50 billion in assets as managing principal at Payden & Rygel Investment Management in Los Angeles.

Tuesday, UBS AG (UBSN.VX: ) unveiled a $19 billion write-down in illiquid real estate assets and announced the departure of its chairman. Its U.S.-listed shares (UBS.N: ) rose nearly 15 percent.

Hours later Lehman Brothers Holdings Inc (LEH.N: ) said it raised $4 billion of capital in a deal designed to stop questions about the Wall Street investment bank's stability. Its stock surged nearly 18 percent.

(Additional reporting by Dena Aubin and Ellis Mnyandu)

© Reuters 2008 All rights reserved

Aon in a statement said it had closed the $2.56 billion sale to Ace, as well as its sale of Sterling Life Insurance Companies to Munich Re for $352 million.

Aon said after-tax proceeds from the deals, which were announced late last year, were about $2.7 billion.

(Reporting by Lilla Zuill, editing by Richard Chang)

© Reuters 2008 All rights reserved

By Reed Stevenson

BUDAPEST (Reuters) - Dutch insurer Aegon NV (AEGN.AS: ) is hoping to capture 2.5 million clients in Central and Eastern Europe by 2010 as populations age and governments enact pension reform, the Dutch insurer's next chief executive said on Wednesday.

With as much as 2 billion euros ($3.1 billion) potentially available for acquisitions, Aegon is hoping to boost its client base by nearly 40 percent in Hungary, Poland, the Czech Republic, Slovakia, Romania, and Turkey, said Alex Wynaendts.

(Additional reporting by Steven van Aartrijk)

© Reuters 2008 All rights reserved

BEIJING (Reuters) - Asia will contribute about 20 percent of Swiss Re's (RUKN.VX: ) global revenues within three to five years, up from 11 percent now, a senior executive at the world's largest reinsurer said on Wednesday.

Swiss Re, whose total premiums rose 7 percent in 2007 to 31.66 billion Swiss francs ($31.32 billion), is always on the lookout for further acquisitions to boost profits, Martyn Parker, chief executive of Swiss Re's Asia division, added.

($1=7.02 Yuan)

($1=1.011 Swiss Franc)

(Reporting by Eadie Chen; Writing by Alan Wheatley; Editing by Edmund Klamann)

© Reuters 2008 All rights reserved

"The importance of State Fund's dual role is particularly highlighted when market conditions worsen and private insurance companies scale back their product offerings. In these markets State Fund must expand its operations to meet the needs of California employers and serve as a safety net for employers who cannot find coverage in the private market. In short State Fund must take 'all comers' -- in good times and bad -- to serve its role as the bedrock of the market.  

NORTHBROOK, Ill.--(BUSINESS WIRE)--RV owners now can get help finding everything from doctors to restaurants, and maybe even save a little money once they get there, thanks to new features of Allstate Motor Club’s RV Roadhelp Plan.

Effective immediately, members of the club’s RV Roadhelp Plan now are able to take advantage of three unique benefits:

A new online discount program offers savings up to 50 percent on travel, rental cars, shopping, dining, entertainment, auto repair and many other everyday purchases. More than 220,000 local and 350 national retailers are participating. A ZIP code search feature helps members easily find participating businesses everywhere.

A 24/7 Personal Assist service allows members to call a toll-free telephone number to find everything from concert tickets and doctors to golf courses and restaurants. Other services include weather updates and foreign language translation help.

The current KOA Value Kard has been changed to a KOA Value Rewards Kard that will allow members who stay at KOA campgrounds to receive discounts on registration fees. They also will accumulate loyalty points that can be redeemed for additional discounts on future stays at KOA campgrounds. The card, with a retail value of $24, is included with RV Roadhelp Plan memberships.

“Our extensive market research told us our customers wanted these kinds of benefits, and we’re excited to be able to offer them at no additional cost,” said Garry Ballek, Allstate Motor Club Vice President. “It’s all part of our continued effort to bring more value to our product for every customer, every day.”

The RV Roadhelp Plan covers not just a customer’s RV, but also all non-commercial vehicles the member drives, whether owned, leased, borrowed or rented.

Other benefits of the plan include:

24-hour emergency road service

Unlimited labor and towing

Unlimited lock-out benefit

Network of 38,000 emergency service providers

Unlimited roadside service

Speedy service guarantee (direct to consumer business only)

$2,000 arrest bond certificate (in accordance with applicable state laws)

$1,500 trip interruption reimbursement

$1,500 in attorney fees for certain moving violations

Customized trip planning

For additional information about Allstate Motor Club, call the Customer Service Center at 1-800-998-8697 or visit www.allstatemotorclub.com. 

HARTFORD, Conn.--(BUSINESS WIRE)--The Phoenix Companies, Inc. (NYSE: PNX), which today announced it will enter the life insurance settlements market through its Phoenix Life Solutions subsidiary, begins with the backing of four prominent brokerage general agencies committed to the company’s vision of “changing the world of life settlements.”

The brokerage general agencies (BGAs), also founding partners of the Phoenix Life Solutions Design Board that guided the company’s business development, are: Advanced Planning Services of San Diego, CA, American Brokerage Services of Wyndmoor, PA, Ash Brokerage of Fort Wayne, IN, and Madison Brokerage of Morristown, NJ.   www.phoenixwm.com

The changes will include reimbursement modifications and are aimed at eliminating preventable adverse events as defined by the Centers for Medicare and Medicaid Services (CMS) and the National Quality Forum (NQF). They will help protect WellPoint's 35 million members from additional payments resulting from these errors.

 http://www.wellpoint.com

“Endorsing the Patient Charter is a natural extension of our leadership in providing consumers with health information to help them make decisions about their care,” said Jeff Kang, M.D., chief medical officer for CIGNA. “Our support for the Patient Charter also signals our continued commitment to having our processes for measuring physician performance validated by outside, independent organizations.” www.cigna.com

PRINCETON, N.J.--(BUSINESS WIRE)--Since 2007, there has been discussion of a possible recession starting in late 2007 or early 2008. Instability has led to significant declines in equity markets around the world, causing many investors to face their losses. It’s a serious issue for many, but with the right resources you can protect your money from volatility. At College Savings Bank, conservative saving tools help to protect deposits. With college costs rising at double the inflation rate, now is the perfect time to put away savings safely for the future.   www.collegesavings.com

KANSAS CITY, Mo. (April 1, 2008) Kansas City-based Assurant Employee Benefits today announced an industry first with the launch of Family Share Max, an innovative new way for families to maximize their dental insurance coverage. As the latest feature to the company’s Lifetime of Smiles® program, Family Share Max allows families to pull from one shared dental coverage pool in the way that can most effectively meet their particular needs and budgets, replacing traditional individual maximums.

“Family Share Max allows families to take more control of their dental benefit dollars,” said Joe Sevcik, vice president of marketing for Assurant Employee Benefits. “Now, for the first time ever, you can spend your family’s dental dollars the way you want. Considering the rising costs of dental care and the current challenging economic situation, this is an especially appealing option.”

Since 1990, dental fees have risen much faster than inflation. A federal survey shows that the average cost of dental procedures rose 25 percent from 1996 to 2004, and consumers are now looking for more choices and flexibility from dental providers to compensate for this increase.1 Assurant Employee Benefits created Family Share Max as a direct response to this consumer feedback.

According to a 2008 Omnibus survey, nearly two-thirds of respondents want their dental provider to allow them to pool dental dollars, rather than limiting them to individual allotments because not all family members require the same coverage. In fact, 58 percent of those surveyed say that one family member required more dental work and used more insurance benefits than other family members in the previous year. As a leader in the dental industry, Assurant Employee Benefits is responding to this need with Family Share Max, making it simple to provide additional care to family members who need it most.

“It is no longer necessary to put off important dental work because of individual dental coverage limits,” said James Gimarelli, D.M.D., vice president of dental at Assurant Employee Benefits.  “By allowing families to prioritize the dental needs of individual family members, Family Share Max can help improve the timely care of dental issues without breaking the bank.”

With Family Share Max, employees are not restricted by complicated rollover plans, such as limitations for members who do not exceed the maximum threshold, issues with accessing rollover dollars the very next year, and requirements for preventive care before rollover dollars are available.

Small- to mid-size business owners can now offer employees a simpler dental plan with no pre-qualifiers or maximum thresholds. www.assurantemployeebenefits.com

In mid-2008, the company intends to offer the policies in Colorado, Idaho, Kansas, Minnesota, Nebraska, North and South Dakota, and Virginia with additional states to come.

“The expansion of the Partnership Program is a significant development for the market we serve as well as for our company,” said Scott Perry, President of Bankers Life and Casualty Company. “It’s not only increasing consumer awareness of long-term care, but it’s enhancing the value of the protection as well.”  

Partnership policies help consumers pay for the high cost of long-term care without having to spend down all of their retirement assets to qualify for Medicaid assistance. The policies offer the same coverage for at-home and facility-based care as traditional long-term care policies. However, two features set Partnership policies apart: 

·        Age-Based Inflation Protection – The policy may be required to include an inflation protection benefit, depending on the age of the policyholder. This protection increases the policy’s benefit levels year over year to keep better pace with the rising cost of care. 

·        Tax-Qualified – Long-Term Care Partnership Programs must meet all requirements of a tax-qualified long-term care plan.

In addition to expanding into new states, Bankers will continue to participate in the existing California, Indiana and Connecticut Partnership Programs.  www.bankers.com

In a keynote speech, Commissioner Burnes gave an overview of reforms passed last year that will allow personal auto insurers in Massachusetts to offer competitive rates as of April 1 – a move that will create a more open market for the first time since 1977.

Commissioner Burnes explained that for 30 years the Commissioner of Insurance had fixed and established the auto rates for the entire state. This led to a situation where good drivers were subsidizing the bad and fewer insurance products were being offered.

“In 1977, we had over 100 insurers writing private passenger auto in Massachusetts. From the early 1990s to 2007, 35 companies left the state. By 2007, there were just 19 companies writing private passenger auto, and I don’t think there is another state that comes close to that,” she said.

Commissioner Burnes noted that this was a dangerous situation for Massachusetts. “There were so few insurers and some insurers were amassing a pretty significant market share. This was not a good place for the Massachusetts consumer to be, to say nothing of the auto market itself.”

As a result, in July 2007 she decided there was sufficient competition to open the market without rates becoming excessive, inadequate, or unfairly discriminatory.  

All companies that wanted to write policies as of April 1 were required to file their rates as of last November. “We had rate changes ranging from -2.2 percent to -15.5 percent – a huge range. These policies are now starting to renew,” she said.

NEW YORK, April 1, 2008 —The Insurance Information Institute (I.I.I.) has just published the print version of Insuring Your Business: A Small Businessowners’ Guide to Insurance.  Designed to help businessowners decide what kinds of insurance they need for their business, the 123-page book has sections devoted to property insurance, liability protection, life insurance for key employees and workers compensation, among other topics. There are also chapters focusing on insurance for specific types of business such as construction contractors, food service businesses, home-based businesses, nonprofit organizations and small retail stores.

“One of the biggest mistakes businessowners make is that they don’t buy the right type of insurance and often have gaps in their coverage, “ said Loretta Worters, vice president, I.I.I. “Without the right insurance coverage, a business can be wiped out by a disaster or lawsuit. The Insuring Your Business guide provides the information businessowners need to protect their business.”

Insuring Your Business is available for purchase in print and PDF format for $28 (quantity discounts are available) through the I.I.I. online bookstore, by phone (212-346-5500 or 800-331-9146), by email (publications@iii.org) or by mail (Insurance Information Institute, 110 William Street, 24th Floor, New York, NY 10038). www.iii.org

The new On Line High Limit Accident Plan will significantly improve and simplify the application process for the agent and his/her clients.  The program allows the agent to sell Accidental Death and Dismemberment (AD&D) coverage and receive commissions without completing a paper application.  The personalized producer link can be posted on the producer’s website and kept handy to email to clients so that they can use it to enroll for AD&D coverage online.

The applicant can quote, purchase, and print the policy within minutes at any time of day or night—no waiting for Monday for clients with time issues.   Instant approval is available for limits up to $1,000,000, and higher limits are available after and underwriter reviews the electronic application, normally within 1 business day.  With many uses for this on line policy, Petersen International Underwriters again offers producers and their clients state of the art tools to service their insurance needs. www.piu.org