Written by on 31 July 2009
The U.S. insurer AIG, nationalized in the fall, announced Tuesday that it sold for 679 million in cash financing activities ( “premium financing”) of life insurance contracts of two of its subsidiaries in the United States . These activities, which depended on AIG Credit and AI Credit Consumer Discount Company, have been taken by the insurer First Insurance Funding.
Written by on 31 July 2009
At a time when the returns of all assets collapsed, the Tontine, the placement of the long term, thanks to its attractive salary, attract new investors. Caution, however capital is not guaranteed. Description of this product and these similarities with the life insurance through Gilles Ulrich, CEO of the Registrar, the largest distributor of Tontine in France.
What explains the renewed interest in the Tontine?
In 2009, the Conservative, the main distributor of the Tontine in France has increased by 40% of sales on this new offering. Our 160,000 members tontiniers outstanding now totals more of 1.1 billion euros. This renewed interest can be explained by the tax advantage provided by this investment: it is a contract without cash value, savings invested in the Tontine totally out of the base of the ISF for all payments made before age 70. This is not the case under the traditional life insurance.
In addition, we expanded our distribution channels for 3 years. In addition to our network of general insurance agents doing 85% of our turnover, various institutional partners have joined us. Thus the Banques Populaires offer their customers the Tontine property under the name Silon.
Finally, this investment offers a very attractive yield: 6.85% per annum net of fees and outside social levy on average over the past 20 years, for an insured 45 years of age to purchase Association (1988-2008). The long-term investment of between 10 and 20 years maturity and determined to optimize the financial management: Tontine holds at the beginning of its dynamic existence of lucrative investments, like stocks, then it is invested, as the it is approaching maturity, safer products such as bonds.
The Tontine is more risky than funds in euros of the life insurance?
Since the arrival of the tontine in France in 1844, although capital is not guaranteed, Tontine has lost any money, they have, instead, always won. Optionally we also offer life cover to preserve capital in case of death of the insured. Even taking into account the cost of this insurance varies according to the age of the investor, the Tontine achieves superior performance to that of funds in euros. Thus for a single premium in Tontine purchased at the age of 60 years for a period of 10 years, the performance offered insurance is included 6.12%, a gain of more than 1% compared to the best funds in euro market ISF advantage off. Moreover, this death may be paid to anyone in terms of Article 990 I of the CGI. Insurance for a death, it will be a total or near-total exemption amount as the fee originally paid death in single premium.
What would happen if one wishes to recover its capital before the deadline?
The consideration of the excellent financial performance and tax implications of the Tontine is the blocking of funds. It is therefore not possible to recover their capital before the end. That is why this product is for customers wishing to secure optimal performance with financial and savings likely to be blocked for at least 10 years.
The tax was the same as for life insurance?
Yes. However, later charges, the statement is made differently. For the sake of transparency, we charge for the duration of the subscription fee of 18.5% statutaires. Then, the subscriber will pay any other fees: management fees or annual fees or internal management UCITS or arbitration costs, …. In the end, 20 years on the bill is much lower than in a classical cross-life insurance.
Written by on 31 July 2009
The life insurance contract is a privileged legal framework that can be transformed into a veritable paradise tax authorized. Building an international portfolio, which is more balanced, requires an excellent knowledge of global markets. To select a title that has a growth potential in China or India, you have to exercise patience, ingenuity and virtuosity.
An investment vehicle that meets management problem: the mutual funds. The latter, composed of securities of companies in these countries or regions, is managed by an institution composed of managers and analysts who know the culture of the country, regulation of market and listed companies on the financial markets.
Another advantage of a significant tax point of view: a SICAV or a FCP, is not static in its composition, but is constantly evolving. This implies that the manager will not only select the best stocks to integrate its funds, but also buy or sell depending on opportunities, taking profits on a company by reinvesting in another whose potential will be more important in the future …
All without taxes on capital gains, they are carried out within the framework of the investment fund or funds. The management of this portfolio will also be optimized tax through the framework for life insurance. This form of management – life insurance contract, collecting more (SICAV or FCP) – offers endless possibilities for international diversification.
One of the only limit is to select the appropriate contract, which offers a large range of funds and managers.
Written by on 31 July 2009
Looking for future capital gains and interest in shares. But you have a desire for international diversification. Rather the funds proposed by the best specialists of collective management.
Indeed, this type of management may be provided by a professional, who will follow the market opportunities for a certain class of shares. Admit that it is difficult to construct a portfolio specialist in Japanese companies, or worse, Chinese or South Korean. Many mutual funds offer specialized investment just exotic or emerging countries, along with your envelope of money in North America and Europe, will allow you to develop a genuine international diversification.
Then, it remains to choose the legal envelope in which to incorporate these funds. Of course, you can opt for the classic banking portfolio.
A favorable tax environment
Another solution is to maximize this investment by integrating these UCITS in a life insurance contract, which will allow you to carry out arbitrage fund with low flat fees and taxes on capital gains, they are integrated in the envelope life. You’ll get all the tax environment of the privileged life, both in terms of gains the rights of succession.
However, many of you will claim that this mode of investment, albeit interesting, is reserved for persons under 70 years. Error, or at least awareness of the benefits provided by life insurance!
Because even after 70 years, life insurance is always interesting, despite the reduction limited to 30 500 € in regard to inheritance.
How? Simply because this was not significant but often ignored by investors, the reduction of the amount invested. As for capital gains generated, they will be exempt. Herein lies the difference.
It remains clear that the interest will be directly related to the amount of capital invested.
For example, a contract is open to age 72 years and the payment amounts to 200 000 €. Imagine the life expectancy of the purchaser or fifteen years. Throughout this period, if no redemption is made, the contract will change that, according to a plausible hypothesis, reached the capital sum of 400 000 €. This is a doubling of the savings in fifteen years, far from being unrealistic.
On the death of the insured, the capital will be paid to beneficiaries according to the following calculation: reduction of € 30 500 on the amount originally invested, resulting in taxation, for the rights of succession, from 169 500 € (200 € 000 – 30 500 € turnover), while all interests – 200 000 € in our example (400 000 € of capital at the time of death – 200 € 000 invested) – will be exempt. Main conclusion, highly advantageous over the life expectancy, the higher you build the estate exemption.
Opt for International
Although this aspect of life insurance is often less known to the general public, you can see the value of such a contract when signed or when payments are made after 70 years, since it will enable d ‘exemption, apart from 30 500 €, all future capital gains.
Given the current life expectancy, it is advisable to carry out a diversification unit has a second life insurance contract, which will be a source of opportunity for capital gains, défiscali out when the succession. You still have to select the life insurance contract in which the number of funds is sufficiently high to build a strong international diversification, which has every chance of winning the next ten or fifteen years.
Written by on 29 July 2009
Served as a bodyguard. Political. The most successful mass murderer in the second half of the twentieth century: Yassir Arafat. Miguel Angel Moratinos, what was more, much more than a necessary aspect of his diplomatic career not very spectacular. It was a love story. For sure, sincere. It is not the first time that a normal subject garment is a brilliant killer. No more to read the wonderful novel that Ishiguro went to England in the years preceding World War II. The remains of the day is a portrait of how people respectable, decent and ravings were cultured under the fascination of the National Socialism of Adolf Hitler.
Monsters are always seductive, who rendered before they fall to the common people. Perhaps it is the envy of the accumulation of transgressions that the officer knows gray away from your fingertips. Perhaps the dark resonance fund that beats perversity, always alive, in unacknowledged twists of the human brain. Arafat had all the attributes to trigger such effects in subjects not too sure of themselves, and admired to the one who possesses absolute power level of violating the standards of murdering his discretion, of course, in equal measure or even more, to steal, and would give the scene vodevilesca war widow to death by PLO and the appropriation of their opulent numbered accounts in Swiss banks discreet. Moratinos became the best of his time in the last months of persevering mafioso, offering protection and diplomatic support. It is not the first time, or only happens in politics. Raymond Chandler was a fine portrait of that to which the French call a very plastically boue of nostalgia, the nostalgia for the mud, the compelling figure of Dolores González of the younger sister: “It was a time that was well known to a gangster. A kind of reverse snobbery. ” For tasteless European diplomat, Arafat met liturgy exact gunman vamp for Cleveland in the thirties. Very exciting.
Arafat died, leaving behind ruin to his subjects, death by war to the stolen money to their heirs. Moratinos was left with nothing. A moral horror vacui could shake then. The melancholy of lost love, just help out the construction of a suitable substitute. There were some available in world politics. Foreign Minister Rodriguez Zapatero, President of Palestinian scarf and unwavering loyalty to the Third World dictatorships, took into consideration several. Castro was already too old to not fear a disappointment and loss. So much better to choose a successor who was appointed the leader antediluvian: Hugo Chávez had all the advantages to go for it. And anointed by the charismatic Cuban dictator Tirano Banderas great agony as the next decade. Identical to his patron in delirium. But in the prime of their age and physical fitness. There was fear that a new and painful widowhood. Moratinos bet was a bet now on indefinite future. I caught the passion again. As sincere as that of his old anti. Ultimately, the Venezuelan leader’s anti-anxiety and anti-phobia of the butchers of Arafat, there is seamless continuity. Against a single enemy: democracy, the dull, gray, drab, bourgeois democracy. And Moratinos had, again, at your fingertips this way vicaria always yearn for what the official sesteante life heroic.
Written by on 29 July 2009
U.S. insurer AIG, in the nationalized last fall, announced Tuesday that it sold 679 million dollars in cash from financing activities ( “premium financing”) of life insurance contracts of two of its subsidiaries in the United States.
These activities, which depended on AIG and AI Credit Credit Consumer Discount Company, were assumed by the insurer, First Insurance Funding (FIFC), a subsidiary of Wintrust Financial Services Financial, AIG said in a statement.
Written by on 29 July 2009
The deputy of the opposition National Unity (UN), Guillermo Mendoza announced Tuesday he is working alongside the Federation of Media Workers of La Paz, in a bill to giving journalists a life insurance because it is considered a high risk profession.
“We jointly Federation Press, we are trying to present a bill that includes a life insurance for journalists and an insurance against serious injuries,” he said.
The initiative was triggered after the attack suffered by a cameraman for the television Gigavisión, Marcelo Lobo, last weekend, who suffered a brutal assault by criminals not yet identified.
The draft stipulates that the insurance companies to hire workers in the press, Mendoza admitted that although the proposal could be modified as it revealed that the Government recalled that the responsibility of workers to employers is inherent and which “accept life insurance for them, would socapar the employer to evade their responsibilities. ”
“While employers must fulfill its role of insuring their workers, the State must also consider that the job of the communicator, not a conventional job but is different according to the statistics, in recent years it is clear that journalism is a high-risk profession, “he said.
Before being elected as MP, Mendoza was a television presenter in private.
Moreover, the deputy said he suspects that the attack on the chamber Gigavisión was an act of reprisal, taking into consideration the history of his private life in which it was established that, apparently, has no personal enemies and therefore therefore, his injuries were a product of investigative journalism that was doing that half or journalists. ”
“The subject must relate to the constant dangers to which journalists are subjected and the media. I hope that this moves the population, these groups that attack the press in the streets, that they realize once and for all this work is risky, complex, and the worst thing is that journalists and cameramen are desva1idos must fend own resources, “he said without giving the date of filing of the bill to the full chambers.
Written by on 29 July 2009
The insurer American International Group (AIG) today announced the sale of $ 679.5 million in cash for most of the life insurance business in the United States of its subsidiaries AIG Credit Corporation and AI Credit.
The American company has reached agreement with First Insurance Funding Corporation (FIFC), a subsidiary of Wintrust Financial Corporation, to execute a sale in which, however, does not include segments of property and accident insurance available to AI Credit, the insurer reported in a press release.
The transaction could be expanded to $ 61.2 million in other assets of life insurance “if certain conditions are met,” explained the company in the same statement, also reported that to complete the sale, received advice the financial services group Blackstone.
AIG, once was the world’s largest insurer, is proceeding well with its restructuring plans, which include the sale and segregation of various business units, some movements that allow you to go back to the State public money he has received from to be affected by the credit crisis.
To prevent its entry into bankruptcy, the company has received a total of 182,500 million dollars from the U.S. administration, which now holds 80% stake in the insurer.
The titles of AIG on Tuesday was revalued to 3.38% in the average meeting of the New York Stock Exchange, where its shares were traded at $ 13.44 each, while so far this year have fallen 57 , 1%.
© Reuters 2009. Is expressly prohibited redistribution and rebroadcasting of all or part of the content of EFE services, without prior express consent of the Agency.
Written by on 29 July 2009
Can Life and Pensions, life insurance Caja Navarra, has 96,000 life insurance entered into by customers, which means an increase of 80% compared to the 53,000 who had 22 months ago.
So far, CAN Life and Pensions has paid more than six million euros for compensating their customers for death or disability, reports the financial institution said in a statement.
In addition, CAN Life and Pensions has 55,000 customers with pension plans and 1,000 more with forecast Insured (PPA), a forecasting products similar tax treatment to pension plans with guaranteed returns and default by the company.
The Business Development Fund of Navarre, via CAN Life and Pensions, can exceed 1700 million in product management dedicated to the coverage of life, savings and investment products and individual pension plans and employment.
Specifically, it had 945 million in savings products, investment and 760 million in individual pension plans and employment.
Written by on 27 July 2009
Just this week, the AFM to publish three ‘wrong’ intermediaries under penalty charges to a bank and imposed an administrative fine to have distributed. These are companies that are guilty of bad advice on mortgages and insurance, without authorization policies or quit violating integrity. The latter may be related to involvement in hypotheekfraude.
According to a spokesman for the regulator, there are so far in twenty fines imposed, the same as throughout 2008. When it comes to penalty charges under that number is at the same level as the same period last year. “This is the last many weeks under penalty charges have been received, looks like a coincidence. We have until now not whether there is an increase in the level of charges under penalty, but the year is not over, “responds a spokesman.
For loads under penalty are often small businesses without a license. It is, for example, a license exists for the conclusion of insurance, but not for other mortgages or life insurance.
The regulator has already clearly stated high priority to tackling bad advisers, financial intermediaries and suppliers. “And that is our seriousness. We want the bottom of hard tackling, “responds a zegsvrouw.
The boom of measures by AFM is partly explained by the growing number of reports from the insurance and banking world “wrong” advisers.
Last October, the supervisory guidance, the supervisor again brought to the attention that the providers are legally required to be mala fide intermediaries to give. If they do not, they are also legally punishable. This is regulated by the Law on financial supervision.
The umbrella organization of intermediaries Fidin made known yesterday to open a hotline where insurance themselves with their complaint can. Fidin begins in the autumn in cooperation with the AFM a complaints section, as intermediaries also have a notification when it comes to wrongdoing.
.