Life
Old Mutual Wealth ready to list as profit soars 40%
Old Mutual Wealth is now ready to list as Quilter, with its annual results showing the company’s pre-tax profits rose by 40% in 2017, driven by “unusually high” performance fees.
Prudential offloads £12bn annuity book as it carves out M&G
Prudential is selling £12bn ($16.7bn, €13.5bn) of its UK annuity portfolio in a landmark deal to Rothesay Life, as part of a major revamp that will see its UK and Europe business, M&G Prudential, become a separately-listed company.
Aviva fires up Hong Kong joint venture with Tencent
Aviva Asia will launch a Hong Kong joint venture in the first half of 2018, as the group shifts its investment focus to high growth markets.
Axa pivots away from life insurance with $15.3bn acquisition
The hits keep coming for the life sector as Europe’s second biggest insurer, Axa, announces a shift from Life & Saving business to Property & Casualty.
Hong Kong to roll out insurance lifeboat scheme
Policyholders in Hong Kong will be protected for the first time should their insurer become insolvent if plans to introduce a mandatory industry-funded compensation scheme come to fruition.