Archive for January 10th, 2010

Exciting and Rewarding Insurance Position in Kabul, Afghanistan

Sunday, January 10th, 2010

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The further expansion and success of the Insurance Corporation of Afghanistan has created the requirement for a number of key positions to be filled. They offer the opportunity to join a dynamic company that is making a significant contribution to the developing economy of an emerging market.

Positions include General Manager, Senior Account Executive, and Account/Marketing Executives. Interested applicants should forward their CV by email to london.representative@icaaf.com

Coca Cola Gets Approval for Captive Benefits Funding Plan

Sunday, January 10th, 2010

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The Coca Cola Company has received tentative authorization from the Labor Department for its groundbreaking approach to funding retiree health care benefits through a special trust and its captive insurance company.

Under its plan, the company will use assets in a voluntary employee’s beneficiary associaion to purchase medical stop-loss policies from Prudential to pay claims over the expected lifetimes of roughly 4,000 retirees and dependents. Coca Cola established the VEBA in 2006 and contributed $216 million to the trust.

Prudential will use the premium it receives from Coca Cola to reinsure the risk with Red Re Inc., a South Carolina captive insurer and one of three captives owned by Coca Cola.

Benefit experts say there are significant financial advantages to Coca Cola’s funding approach and that other companies will follow after the transaction receives final approval from the Labor Department.