Ten ways to thrive as an international life company
By Mark Battersby, 3 Nov 15
In the latest in a series of viewpoints from prominent life industry figures, Sean Christian, executive director – offshore of Canada Life International, sets out what it takes to thrive as an international life office.
Markets served by international life offices are becoming increasingly competitive which in turn can lead to pricing pressure as new entrants come into a market. At the same time life companies are once again facing a huge amount of regulatory change and increased requirements from regulators to continually strengthen risk, compliance and governance frameworks, all of which drives up costs. Life companies with large, profitable back-books of business and those successfully capturing a higher share of their chosen market’s new business will be far better positioned to manage their unit costs, and in turn, their bottom line profitability.
Acquisition opportunities will continue to arise in the international life sector as provider consolidation continues. Successful acquisitions lead to lower unit costs through the realisation of synergy savings and increased economies of scale.
Tags: Canada Life | Sean Christian
