Life
EEA ‘death bond’ investors receive $54.5m payout
Investors in the ill-fated EEA Life Settlements Fund will receive a $54.5m (£42.1m, €49.9m) payout for their shares in the so-called ‘death bonds’.
Pacific Insurance unit buys stake in Chinese asset manager
China Pacific Insurance Co. (CPIC), the country’s third largest life insurer, has bought a 51% stake in Chinese fund management company GTJA Allianz Fund Management and will share ownership of the firm with Germany’s Allianz.
Old Mutual exits India with sale of joint venture life stake
Old Mutual is pulling out of its joint venture life company in India by selling a 26% stake for a net cash sum of £141m ($182m,€167m).
UAE to push ahead with major life industry overhaul
The main regulator of life companies in the UAE has confirmed it will go ahead with a ban on indemnity commissions, limits to fees and charges on industry products and tighter rules on financial advisers.
Best Practice | 25 Apr 17
Royal London offers ‘pioneering’ life cover for diabetics
UK insurance giant Royal London has created life cover specifically designed for people with Type 1 and Type 2 diabetes, which the life insurer describes as a first for the British protection market.