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The Financial Stability Board has named Aegon, Aviva, and Axa among nine global insurance firms identified as systemically important financial institutions (SIFI).
Life and investment product providers, fund managers, and intermediaries need to swiftly absorb what the potentially game-changing regulation for the UAE's life insurance industry means for their business and be ready to provide their feedback before the 30 November cut-off date, say Tom Bicknell, Wayne Jones, and Peter Hodgins of international law firm Clyde & Co.
American International Group (AIG) has agreed to sell its Japanese life insurance business to one of Asia’s most prominent insurers FWD Group for an undisclosed sum.
Prudential reported a 19% increase in new business profit for the first nine months of the year, driven mainly by a strong performance at its Asian life business.
The main life insurance regulator in the UAE has unveiled plans to tackle high fees and hidden commissions across the industry after receiving what it described as “an alarming amount of complaints from policyholders”.
The cost of life insurance policies is expected to rise by as much as 20% next year as the Financial Supervisory Commission (FSC) tightens reserve requirements.
Life companies were the most complained about financial services providers on the Isle of Man last year, according to figures released by the island’s Financial Services Ombudsman.
Old Mutual International has moved to reflect the changing trend towards more flexible products in the offshore market by closing two of its contractual savings plans in three key regions.
People often lump insurance into three categories: car, home, and life. While few would think of the world of insurance as an exciting place, Aegon has put together a list of 10 weird and wonderful insurance policies to brighten, what has been for some, a dreary week.
Zurich Insurance has posted a massive increase in its third quarter net profit and strong growth over the first nine months of 2016 as the company’s efficiency drive under new chief executive Mario Greco bears fruit.
Strong growth from a relatively low base in the Middle East and Africa fuelled a near 75% increase in new business levels for Hansard Global in the third quarter of this year.
Italy’s largest insurer Generali reported a 4.5% drop in premiums in its life unit in the last nine-months but said performance in the life insurance improved in the third quarter.
Legal & General has formed a new trans-Atlantic insurance division to tie its UK and US offerings.
UK investment house Royal London Asset Management (RLAM) has announced that total funds under management by the group has exceeded £100bn for the first time.
After the acquisition of Axa Isle of Man paved the way for a headline-grabbing rebrand as Utmost Wealth Solutions, head of proposition Simon Willoughby talks exclusively to International Adviser about how the 25-year-old international life company was forced to go back to the drawing board and focus on what it does best.
Axa Wealth International on the Isle of Man has been rebranded following its acquisition by Life Company Consolidation Group (LCCG) in April 2016.
China Life, the country’s largest insurer by market cap, has issued a profit warning after it forecast a 60% drop in net profit due to a decrease in investment income for the nine months to 30 September 2016.
A number of Australia’s major life insurers have endorsed the Financial Services Council’s Life Insurance Code of Practice, saying it should help to build consumer trust in the industry.
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