Companies
Canada Life buys annuity provider Retirement Advantage
Canada Life, the UK arm of international financial services group GreatWest Lifeco, has agreed to buy specialist annuity provider Retirement Advantage for an undisclosed sum, the company announced in a statement.
Phoenix squeezes more cash out of Axa deal than expected
Phoenix Group, Britain’s largest closed life fund consolidator, doubled operating profit during the first six months of 2017 as it said the cash earned from the Axa acquisition last year had been generated more rapidly than expected.
India’s Centrum Group gets broking licence, plans expansion
Indian financial conglomerate Centrum Group has obtained an insurance broking licence from the Insurance Regulatory and Development Authority of India (IRDAI), with which it plans to expand its business.
Vietnam rolling out welcome mat for int’l life companies
The Vietnamese Government is planning to make it easier for international life insurance companies to operate in the local market, deputy prime minister Dinh Hue Vuong has said.
MassMutual Asia sold to investor group for $1bn
A finance firm set up by Alibaba founder Jack Ma has led the acquisition of Hong Kong-based MassMutual Asia by a group of regionally based investors.