Life
FPI exits all markets bar Asia, ME and South Africa
Friends Provident International is abandoning all of its global operations, excluding Hong Kong, Singapore, Dubai, and the ‘permitted jurisdictions’ of South Africa and Qatar.
Zurich transfers Singapore adviser network to Nexus
Zurich Life Insurance (Singapore) has agreed to hand over all of its approximately 160 appointed financial advisers in the city state to Nexus Financial Services, part of the Middle East-based Nexus Group, in response to changes in the regulatory landscape.
ANALYSIS: Why shining lights are needed in int’l life sector
The importance of having a parent company which believes in the underlying businesses it controls is an obvious statement presumably everyone would sign up to.
RSA to resume asset sales, targets Middle East and Russian units
UK-based RSA Insurance is reported to be looking to sell its Russian and Middle East divisions as it resumes the disposal process begun by chief executive Stephen Hester in the wake of the surprise decision by Zurich last week to call off its takeover bid.
South African ‘RDR’ is call to arms for industry
Life companies in South Africa could “run into trouble” if they do not start working on changes to their businesses soon, said a senior figure for Old Mutual, ahead of the country’s imminent Retail Distribution Review.