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  1. Cathay Life Insurance (Chinese: 國泰人壽) is a life insurance company in Taiwan founded in 1962. The firm offers life, health, and annuities. In 2017, Cathay ranked 411th on the Fortune Global 500. History The firm was founded in 1962 by ...

  2. This is a list of insurance companies in Hong Kong.[1][2] Name of insurer Place of incorporation Type of business authorised ACE Insurance Limited Hong Kong General AIG United Guaranty Insurance (Asia) Limited Hong Kong General Alliance Insurance Services Hong Kong Long Term Allianz Insurance (Hong Kong) Limited Hong Kong General Allianz ...

    • Historical Highlights
    • The Basis For The Kdic's Mandates and Powers
    • The Execution of Mandates and Powers
    • Main Roles
    • Protection of Deposits
    • International Cooperation
    • Seoul Guarantee Insurance Company
    • External Links

    The Depositor Protection Act was enacted on December 29, 1995, and the KDIC established on June 1, 1996. The KDIC began its operations as a deposit insurer on January 1, 1997, collecting The first deposit insurance premiums on April 30 that year. The first Deposit Insurance Fund Bond was issued on January 3, 1998, and on April 1 deposit insurance f...

    The Depositor Protection Act

    The KDIC's mandates and powers come from the Deposit Protection Act (DPA) which was enacted in Dec. 1995. The purpose of this Act is to contribute to the protection of depositors and maintenance of the stability of the financial system by efficiently operating a deposit insurance system, etc. in order to prevent a situation in which a failed institution is unable to reimburse its depositors. The DPA has an Enforcement Decree as a supporting legislation. The Decree is designed to provide for m...

    The Special Act on the Management of Public Funds

    To ensure efficient use of public funds as well as to minimize the financial burden on citizens, the Special Act on the Management of Public Funds was enacted in Dec. 2000. The Act lays out how to enhance the objectivity, fairness and transparency of fund raising and management.

    Other Acts

    Other laws that provide the basis for the KDIC's mandates and powers include the Act on the Structural Improvement of the Financial Industry, and the Act on the Fund for Repayment of Public Funds.

    The Deposit Insurance Committee

    The Deposit Insurance Committee is the highest decision-making body of the KDIC. As such, it deliberates and renders decisions on key matters. It is composed of seven individuals including the President of the KDIC (Chairman), the Vice Chairman of the Financial Services Commission, the Vice Minister of the Ministry of Strategy and Finance and the Senior Deputy Governor of the Bank of Korea. The three remaining committee members are appointees commissioned directly by the Financial Services Co...

    The Board of Directors

    The Board of Directors, as the highest executive body of the KDIC, is composed of one President, one Executive Vice President, four internal Executive Directors, and seven non-Executive Directors. The auditor may express opinions at Board meetings, but cannot participate in the Board's voting process.

    Organizational structure

    As of the end of Sep. 2010, the KDIC is composed of ten departments, five offices and one bureau. The total number of employees stands at 563. This number included general employees, and special employees such as attorneys, doctoral researchers, conservators, bankruptcy estate trustees, examiners, etc.

    Policy and fund management

    The KDIC implements deposit insurance policies and manages funds. The funds in the KDIC are divided into the Deposit Insurance Fund Bond Redemption Fund and the (New) Deposit Insurance Fund (DIF). The Redemption Fund was established to complete the financial restructuring and recover public funds injected during the first and second rounds of financial assistance following the 1997 East Asian financial crisis. The new DIF could start with a clean state from then. The annual premium revenue of...

    Ongoing risk surveillance

    The KDIC identifies troubled financial institutions through on and off-site monitoring and requests financial institutions or supervisory authorities to take appropriate actions to prevent failure.

    Support of insolvent financial institutions

    The KDIC supports an insolvent financial institution in accordance with the following four principles: Least Cost Principle, Loss-Sharing Principle, Self-Help Effort Principle and Transparency/Objectivity Principle. And the KDIC usually uses one of two methods: deposit payoff and financial assistance. Financial assistance includes loan extension and fund deposit, purchase of assets and assumption of liabilities, equity investment and contributions.

    Types of Insured Institutions

    The KDIC insures banks, financial investment companies, life and non-life insurance companies, merchant banks and mutual savings banks. As of the end of 2009, 321 financial institutions' products were under the protection of the KDIC.

    Insurance Coverage

    The KDIC insures bank deposits, customer's deposits for securities trading, individual insurance policies, etc. On the other hand, the KDIC does not insure CDs, RPs, securities, CPs, etc. Also, the deposit insuranceexcludes deposits by government and insured financial institutions, etc. from its insured products.

    Coverage Limit

    The KDIC covers up to 50 million won ($42,823) per depositor. It is 2.5 times of Korea's per capita GDP($17,074) (Statistics are as of the end of 2009.)

    MOUs

    The KDIC currently has MOUson Information Sharing and Mutual Cooperation with nine deposit insurers worldwide.

    Seoul Guarantee Insurance Company (SGIC, 서울보증보험) is a financial services company incorporated in South Korea. Headquartered in Seoul, SGIC is the largest provider of surety and trade credit insurance. It is fully owned by Korea Deposit Insurance Corporation, a government institution that insures bank deposits. The company was formed after the merge...

  3. The Nippon Export and Investment Insurance (日本貿易保険, Nihon Bōeki Hoken), NEXI, is a Japanese insurance corporation owned by the Japanese government.The current organization was formed as an Independent Administrative Institution on April 1, 2001 under the jurisdiction of the Ministry of Economy, Trade and Industry based on the General Rules for Incorporated Administrative Agency ...

  4. Signed into law by President Bill Clinton on August 21, 1996. The Health Insurance Portability and Accountability Act of 1996 ( HIPAA or the Kennedy – Kassebaum Act [1] [2]) is a United States Act of Congress enacted by the 104th United States Congress and signed into law by President Bill Clinton on August 21, 1996. [3]

  5. en.wikipedia.org › wiki › Bill_GatesBill Gates - Wikipedia

    Bill Gates. William Henry Gates III (born October 28, 1955) is an American businessman, investor, philanthropist, and writer best known for co-founding the software giant Microsoft, along with his childhood friend Paul Allen. During his career at Microsoft, Gates held the positions of chairman, chief executive officer (CEO), president, and ...

  6. en.wikipedia.org › wiki › Malcolm_XMalcolm X - Wikipedia

    Malcolm X (born Malcolm Little, later el-Hajj Malik el-Shabazz; May 19, 1925 – February 21, 1965) was an American Muslim minister and human rights activist who was a prominent figure during the civil rights movement.A spokesman for the Nation of Islam (NOI) until 1964, he was a vocal advocate for Black empowerment and the promotion of Islam within the Black community.

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