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ProSight Specialty Insurance, a specialty P&C insurance company, has appointed Anthony Piszel as its new chief financial officer, effective 9 April 2012, in a bid to further strengthen its executive team of experienced insurance professionals.

ProSight Specialty Insurance chairman and CEO Joe Beneducci said Piszel has senior finance experience and entrepreneurial skills which makes him an excellent addition to the company’s growing team of experienced industry leaders.Prior to joining ProSight, Piszel served as chief financial officer of CoreLogic (CLGX), a provider of data and analytics for risk management across a wide range of industries, including insurance, financial services and real estate.Piszel also worked as chief financial officer for Freddie Mac and at Health Net, and spent 11 years in various financial leadership roles at Prudential Insurance.Founded in 2009, ProSight Specialty Insurance is backed by affiliates of TPG Capital and GS Capital Partners.

Extreme sports are exciting for people watching from the sidelines, so imaging how exhilarating it must feel for people willing to take on these death-defying challenges. If youre an adrenaline junkie, you probably have a lot of family members sitting on those sidelines worrying about your safety. Which means that sports in this category require significant life insurance policies.

However, life insurance for extreme sports doesnt come at a cheap price.

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XN Financial, a provider of insurance products, has named Anthony Alberico as senior vice president for Global Benefits.

In his new role, Alberico will apply his extensive international healthcare experience towards strategic planning and development projects worldwide and will continue to work with XN’s underwriting partners and service providers in responding to the expatriate healthcare needs of global corporations.

Alberico has been with XN Financial since 2003 serving the role of vice president, Global Benefits, responsible for new business development and providing account management services for several Fortune 500 multinationals.

Prior to XN, Alberico worked with the European head office of the Multinational Insurance Arrangement (MIA) Network in Brussels, Belgium.

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MetLife, because of its ownership of MetLife Bank, an online retail unit, was forced to submit to the Federal Reserves stress testing and failed, possibly because it was “unfairly penalized” by regulators.

Dave Jones

MetLife was the only insurer among 19 companies deemed bank holding companies that underwent the testing, which seeks to determine if financial service companies can meet the governments minimum capital requirements under a highly stressed market scenario. The

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US Supreme Court will review the effectiveness of the mandatory purchasing of health insurance ‘The Affordable Care Act’ by the US citizens, a new law signed by the US president.

The law, under which the people of US will have to buy health insurance by 2014 or pay a tax penalty, has been challenged by 26 of the 50 US states, arguing that Congress exceeded its constitutional power and argued that the government should not interfere and force citizens to pay for a product they have opted against. Und

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A Virginia man was sentenced to almost five years in prison for his role in an investment scam that cost investors about $815,000.

Over five years, Edward Thomas Menster, 58, of Henrico County, bilked retirees and parents seeking to finance their childrens college expenses through investments, according to a Richmond Times Dispatch report.

Menster, part owner and an affiliate with several companies that helped families save for their childrens education, pleaded guilty to wire fraud in December and was sentenced to 58 months in jail.

You didnt make bad investments; you stole their money, U.S.

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The motor insurance industry in Indonesia is expected to see a significant growth over the next four years, according to a new report from the UK based research firm BRICdata.

During the review period (2007-2011), the volume of motor insurance policies sold in Indonesia grew at a CAGR of 24.36%.

The growth of the Indonesian motor insurance category is supported by strong growth in automobile sales.

Over the forecast period (2012-2016), the growth of the Indonesian motor insurance category is expected to grow at a CAGR of 10.33% and reach volume sales of 25.1 million in 2016.

Third-party motor insurance, which is compulsory in Indonesia, is anticipated to drive demand for motor insurance in the country.

The Capital Market and Financial Institution Advisory Agency (BAPEPAM-LK) has placed a strict capital requirement on insurance companies in Indonesia and companies that fail to meet the above regulation will be penalized.

BAPEPAM-LK’s new regulation is designed to strengthen the Indonesian motor insurance category and bring in some consolidation.

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