Life
China nationalises troubled insurer Anbang
Insurance giant Anbang is entirely under government control after the country’s regulator confirmed it has seized over 98% of the formerly privately-held conglomerate.
South Africa’s Prescient Life sold
Johannesburg-headquartered investment manager 27Four has secured a life insurance licence after agreeing to acquire 100% of Prescient Life from its parent company Prescient Holdings.
Canada Life UK sells £2.7bn book to Scottish Friendly
Consolidators continue to snap up legacy books of business with Canada Life UK announcing the sale of 155,000 longstanding policies to Scottish Friendly.
‘Lifestyle’ insurance start-up set for launch
An AIG-backed life insurance tool that uses ‘behavioural science and artificial intelligence’ is to be rolled out later this year.
Equitable Life joins £24bn consolidator’s stable
Policyholders could be set for a windfall after the world’s oldest mutual assurer, The Equitable Life Assurance Society, is sold to Life Company Consolidation Group (LCCG).