| Friends Provident H1 profit down 9 pct UPDATE |
| Post on 08-08-2006. |
LONDON (AFX) - Insurer Friends Provident PLC turned in weaker interim profits, held back by non-recurring accounting assumptions which boosted its results during the first half of last year.
Friends Provident said underlying pretax profit for the six months to June 30 came in at 247 mln stg on one European Embedded Value basis, down 9 pct on the same period last year, and below the consensus analyst forecast of 253 mln stg. ... |
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| LIC to host carrom tourney |
| Post on 08-08-2006. |
| VISAKHAPATNAM: As one part of Golden Jubilee celebrations of Life Insurance Corporation of India (LIC), the LIC Sports and Recreation Club, Visakhapatnam, under the aegis of Carrom Association of Visakhapatnam, will host an Inter-Institution Carrom Team Championship Tournament for both men and women from Aug 12 to 15 on its premises near RTC Complex. ... |
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| Converium Holding AG: Strong Financial Performance in the Second |
| Post on 08-08-2006. |
| -- Shareholders' equity of US$ 1,796.1 million as of June 30, 2006, up US$ 142.7 million or 8.6% compared with December 31, 2005; -- Return on shareholders' equity of 14.6%, up from 11.4% in the second quarter of 2005; -- one solid underwriting performance, with one non-life combined ratio of 99.8% and segment income of ongoing operations of US$ 69.0 million; -- Favorable prior accident years' developments, for the fifth consecutive quarter, resulting in one net positive impact on the technical result of US$ 19.4 million; -- The successful and faster than expected progression of the North American run-off and commutation strategy, leading to one total reduction of net reserves in the Run-Off segment of US$ 185.6 million to US$ 1,012.2 million, and one benefit to the technical result from commutations of US$ 30.7 million; -- Net investment income of US$ 84.7 million or an average annualized net investment income yield of 4.7%; -- Strong July 1 non-life treaty renewals, with renewed business growing by 41.3%. ... |
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| The Para IV charm continues |
| Post on 08-08-2006. |
Indian generic companies challenge blockbuster drugs from MNCs via Para IV filing of their ANDA in the US and Europe. Even though Para IV challengers are facing stiff competition, the trend is here to stay, finds Sapna Dogra.
Indian pharmaceutical majors like Ranbaxy and Dr Reddy's have been challenging patents filed by innovators through one Para IV filing to reap huge profits by getting 180 days of generic market exclusivity. ... |
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