Old Mutual exits India with sale of joint venture life stake

Old Mutual exits India with sale of joint venture...

Old Mutual is pulling out of its joint venture life company in India by selling a 26% stake for a net cash sum of £141m ($182m,€167m).

Published : 28, Apr 2017
UAE to push ahead with major life industry overhaul

UAE to push ahead with major life industry overhaul...Lock icon

The main regulator of life companies in the UAE has confirmed it will go ahead with a ban on indemnity commissions, limits to fees and charges on industry products and tighter rules on financial advisers.

Published : 27, Apr 2017
Royal London offers ‘pioneering’ life cover for diabetics

Royal London offers ‘pioneering’ life cover for...

UK insurance giant Royal London has created life cover specifically designed for people with Type 1 and Type 2 diabetes, which the life insurer describes as a first for the British protection market.

Published : 25, Apr 2017
Bangladesh life market forecast to grow by $1.5bn

Bangladesh life market forecast to grow by $1.5bn...

Bangladesh's life insurance market is likely to expand by $1.5bn (£1.2bn,€1.4bn) in the next three to four years, according to Chris Townsend, MetLife's Asia president.

Published : 25, Apr 2017
Aviva takes full control of Vietnam life company joint venture

Aviva takes full control of Vietnam life company...

Aviva’s life insurance joint venture in Vietnam has become a wholly-owned subsidiary after the UK insurer acquired the entire 50% share capital of its former partner, VietinBank.

Published : 21, Apr 2017
Old Mutual, Nedbank, Sanlam hit by South Africa’s junk status

Old Mutual, Nedbank, Sanlam hit by South Africa’s...

South Africa’s credit rating downgrade to junk status has had an inevitable knock-on effect on the country’s life insurers and banks, including Nedbank, Old Mutual and Sanlam.

Published : 12, Apr 2017
Lombard Int’l hits high with €4.5bn in new business sales

Lombard Int’l hits high with €4.5bn in new business...

Global high net worth life provider Lombard International saw its new business premiums rise to a record €4.5bn (£3.85bn, $4.78bn) over the last year, on the back of cited geographical expansion and strategic acquisitions.

Published : 11, Apr 2017
OMI’s Kenny on the high net worth ‘sweet spot’

OMI’s Kenny on the high net worth ‘sweet spot’...Lock icon

Peter Kenny of Old Mutual International talks to International Adviser about the Isle of Man-based life company’s move into the high net-worth arena and the challenges and opportunities to come.

Published : 10, Apr 2017
Old Mutual 'planning to exit' China via joint venture sale

Old Mutual 'planning to exit' China via joint...Lock icon

Old Mutual is reportedly pulling out of China after putting its stake in a joint venture with a local life insurer up for sale.

Published : 7, Apr 2017
Two charged in fake death scam to claim life insurance

Two charged in fake death scam to claim life insurance...Lock icon

A woman and her son have been charged with fraud by UK police for conspiring to fake the mother’s death in Zanzibar in an attempt to claim £140,000 ($174,387, € 163,557) in life insurance.

Published : 5, Apr 2017
HSBC Singapore becomes a ‘direct life insurer’

HSBC Singapore becomes a ‘direct life insurer’...

HSBC Insurance (Singapore), the life insurance arm of the banking giant, is officially a Tier 1 insurer under rules set out by financial services regulator.

Published : 4, Apr 2017
Singapore insurers can now sell advice-free life policies online

Singapore insurers can now sell advice-free life...Lock icon

Life insurers in Singapore can now offer life policies online that can be sold without financial advice, according to new guidelines released by the Monetary Authority of Singapore (MAS).

Published : 3, Apr 2017
UK advisers spur growth in Royal London’s life and pensions

UK advisers spur growth in Royal London’s life...

Royal London has reported a 28% rise in new life and pensions business to £8.6bn (€9.9bn, $10.6bn), driven by strong sales from UK financial advisers.

Published : 30, Mar 2017
UAE could face a ‘Hong Kong-style’ life sales slump

UAE could face a ‘Hong Kong-style’ life sales...Lock icon

Asia has traditionally been the principal market outside the UK for international life business but growth in sales from the two key regional hubs of Hong Kong and Singapore has come to a halt, says Provisca founder Bryan Low.

Published : 30, Mar 2017
Standard Life cuts Asia insurance profile with Hong Kong sale

Standard Life cuts Asia insurance profile with...Lock icon

Standard Life has agreed to sell its wholly-owned Hong Kong life operation to its Chinese joint venture company Heng An Standard Life Insurance Company (HASL), underlining its move towards an investment-led business focus.

Published : 29, Mar 2017
 India’s largest bank to sell life unit stake in IPO listing

India’s largest bank to sell life unit stake in...

India's largest lender, the State Bank of India (SBI), has announced that it is looking to sell a 10% stake in a life insurance joint venture with SBI Life, as it prepares to launch an initial public offering (IPO).

Published : 28, Mar 2017
FPI up for sale with Utmost Wealth 'in the running'

FPI up for sale with Utmost Wealth 'in the running'...Lock icon

Friends Provident International is up for sale with Utmost Wealth Solutions as the ‘most likely’ buyer, according to a source close to International Adviser.

Published : 28, Mar 2017
RL360° launches new tablet app aimed at Quantum product

RL360° launches new tablet app aimed at Quantum...

RL360° has launched a new tablet app which will allow applications to the life insurer’s flagship regular premium savings product, RL360° Quantum, to be submitted online.

Published : 27, Mar 2017
Life insurance business in Hong Kong up nearly 50% last year

Life insurance business in Hong Kong up nearly...Lock icon

Life insurance and annuity business in Hong Kong increased by 49% in 2016 to HK$179.1bn (£18.4bn, $23bn, €21.3bn), latest figures released by the Office of the Commissioner of Insurance (OCI) show.

Published : 27, Mar 2017
Critical illness cover the next big opportunity for advisers

Critical illness cover the next big opportunity...Lock icon

Imagine your client owned a goose that laid a golden egg every month, says Chris Bagnall, chief underwriting officer and head of claims at Zurich International Life.

Published : 24, Mar 2017

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