Axa reports record revenues as CEO rules out Generali bid

Axa reports record revenues as CEO rules out Generali...

French insurer Axa said revenues crossed the €100bn (£84bn, $105bn) mark for the first time in the company’s history as chief executive Thomas Buberl distanced himself from a bid for Generali’s German life insurance business.

Published : 23, Feb 2017
Average life expectancy on the rise around the world

Average life expectancy on the rise around the...

Average life expectancy in high income countries such as the UK, Germany, the US, Australia and Canada is set to increase by 2030 while South Koreans are likely to live the longest, according to research published in the British medical journal Lancet.

Published : 22, Feb 2017
China to lift 50% foreign ownership cap on life insurers

China to lift 50% foreign ownership cap on life...

China is considering easing the 50% ownership cap on overseas life insurers buying domestic companies in the biggest shakeup of the industry in almost two decades.

Published : 22, Feb 2017
Market opportunity for critical health cover in UAE, Zurich finds

Market opportunity for critical health cover in...

Residents of the UAE are willing to spend more on critical illness insurance cover than the global average, but remain significantly under-insured, according to a new report by Zurich International Life, Middle East.

Published : 20, Feb 2017
OMW launches UK pension allowance calculator for high earners

OMW launches UK pension allowance calculator for...

Old Mutual Wealth has launched a new pension planning calculator, designed to help UK advisers deal with the recent changes to the annual allowance for contributions. 

Published : 17, Feb 2017
China’s ‘barbaric’ insurers continue to invest in risky assets

China’s ‘barbaric’ insurers continue to invest...

Life insurers in China will continue to invest in risky assets, despite a recent clampdown by the country’s insurance regulator amid a string of high-profile suspensions over stock market speculation, according to a report by Moody’s Investors Service.

Published : 15, Feb 2017
Sales of life products in Singapore grow by 15%

Sales of life products in Singapore grow by 15%...

Singapore’s life insurance industry continued to grow in the fourth quarter of last year driven by rising sales in annual premium products, latest figures show.

Published : 14, Feb 2017
Disclosure is a benefit, 'not an enemy'

Disclosure is a benefit, 'not an enemy'

Having avoided the high commission trap, Isle of Man-headquartered IOMA Group is well placed to thrive in the new world of fee disclosure and transparency, says managing director Chris Kenning.

Published : 9, Feb 2017
Australia's AMP posts big loss as industry changes hit

Australia's AMP posts big loss as industry changes...

Australian insurance giant AMP, which runs the country’s largest financial adviser network, has posted a full year net loss after a big deterioration last year in its core life insurance and income protection business.

Published : 9, Feb 2017
Hansard's alliance with UAE insurer Union goes live

Hansard's alliance with UAE insurer Union goes...

Hansard International launched its new strategic alliance with UAE-based Union Insurance Co on Thursday, which includes the provision of two new savings and investment products under the brand name ‘Infinity’.

Published : 9, Feb 2017
China gives the green light to first online-only life insurer

China gives the green light to first online-only...

Hetai Life Insurance has received approval from China’s insurance regulator to start operating as the country’s first-ever online life insurer.

Published : 8, Feb 2017
LCCG to launch UK life insurance company

LCCG to launch UK life insurance company

Life Company Consolidation Group (LCCG) is to set up a new UK life insurance company to house the business it will acquire following the demutualisation of Reliance Mutual Insurance Society.

Published : 6, Feb 2017
Regency adds terrorism cover to int'l medical policies

Regency adds terrorism cover to int'l medical...

Regency for Expats, part of the Regency Assurance Group, has announced plans to provide terrorism cover as part of its international private health insurance policies.

Published : 6, Feb 2017
IoM life industry discloses extent of commission complexity

IoM life industry discloses extent of commission...

When it comes to disclosing commission, Isle of Man-based life companies have revealed at least six different ways they pay intermediaries and asked the regulator to be clear on what it wants them to disclose, according to industry responses to a consultation paper.

Published : 1, Feb 2017
IoM regulator confirms two commission disclosure deadlines

IoM regulator confirms two commission disclosure...

Life insurance companies on the Isle of Man must provide broad commission disclosure from 1 January 2018 and policyholder specific commission disclosure from 1 January 2019 under the proposed new Conduct of Business Code.

Published : 1, Feb 2017
Zurich partners with pension advice service for scam helpline

Zurich partners with pension advice service for...

Zurich UK Life has teamed up with The Pensions Advisory Service (TPAS) to pilot a pension scam helpline, offering impartial guidance to customers looking to transfer their savings into schemes that the life insurer has identified as suspicious.

Published : 1, Feb 2017
Why life insurance wrappers still benefit expats in the UAE

Why life insurance wrappers still benefit expats...

The benefits of life insurance wrappers still outweigh direct investment in funds for expatriate customers in the UAE despite the significant regulatory change underway, says Philip Cernik of Friends Provident International.

Thailand eases foreign ownership rules for life companies

Thailand eases foreign ownership rules for life...

Thailand has announced it will relax foreign ownership restrictions and board limits for life insurance companies in a bid to "promote stability" in the industry.

Published : 27, Jan 2017
Generali terminates general manager and group CFO’s contract

Generali terminates general manager and group...

Italian insurer Generali has reached an agreement with general manager and group chief financial officer, Alberto Minali, to terminate his employment contract, effective from 31 January.

Published : 26, Jan 2017
Hansard to add UAE products under Union Insurance deal

Hansard to add UAE products under Union Insurance...

Hansard International plans to launch two new products in Dubai as part of its recently announced alliance with the UAE-based general insurer, Union Insurance.

Published : 25, Jan 2017

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