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.
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.
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.
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.
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.
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.
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.
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.
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’.
Hetai Life Insurance has received approval from China’s insurance regulator to start operating as the country’s first-ever online life insurer.
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.
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.
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.
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.
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.
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 has announced it will relax foreign ownership restrictions and board limits for life insurance companies in a bid to "promote stability" in the industry.
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.
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.
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