A Timetric briefing service

News Archive

Archive of industry news from the global life insurance industry

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January 2015

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Manulife Singapore launches life products for HNWIs
26 January 2015 Manulife (Singapore) has launched three products as part of its ManuSignature Series in order to meet the protection and wealth management needs of high net worth individuals (HNWIs).

Free Aviva life cover to parents of under-fives
26 January 2015 Aviva is enabling financial advisers to offer a year of free life cover from the insurer, worth £15,000, to each parent of a child aged under five.

Fitch Ratings: UK annuity sales to decline 30-50%
22 January 2015 Fitch Ratings expects annuity sales in the UK to fall 30-50% compared to the market’s pre-Budget period – and says providers’ business mix will determine their exposure to the decline in annuities.

Manulife makes senior appointments in Hong Kong
21 January 2015 Manulife has appointed Sushmita Munshi as assistant vice president, distribution technology and strategic projects in Hong Kong.

Aviva warns that 1,500 jobs may be cut after takeover of Friends Life
20 January 2015 Aviva anticipates that its proposed £5.6bn ($8.8bn) takeover of Friends Life may result in approximately 1,500 jobs being cut by the end of 2017.

Aon Benfield launches life, health and pensions stochastic modelling platform
19 January 2015 Aon Benfield, the global reinsurance intermediary and capital advisor of Aon, has launched a stochastic modelling platform to evaluate the key risks of long term products and more accurately influence reinsurance purchases, predict cash flow and analyse financial strategies.

AIA Singapore launches first-in- market mobile app
16 January 2015 AIA Singapore has launched the first mobile application in Singapore that provides employees with access to insurance claims submission and their policy information via their Android or Apple mobiles devices.

Friends Life launches first cancer¬-specific group cover in UK
15 January 2015 Friends Life has launched a group cancer cover product – the first employer-funded cancer-specific workplace benefit in the UK.

Charles Taylor Group agrees to acquire Scottish Widows International, Jersey
14 January 2015 International life insurance aggregrator Charles Taylor has agreed to acquire Scottish Widows International Limited (SWIL) from Scottish Widows.

Munich Re appoints CEO for UK and Irish life reinsurance business
13 January 2015 Munich Re London (Life Branch) has appointed Andy Batley as CEO of the UK & Irish Life Reinsurance business from 1 January 2015.

A.M. Best posts stable outlook for US life / annuity segment
12 January 2015 A.M. Best has posted a stable rating outlook for the US life / annuity segment based on positive factors including a benign credit environment, improving economic conditions and high levels of reported risk-adjusted capitalisation.

Swiss Re’s Admin Re invests £5m in communications infrastructure
09 January 2015 Swiss Re’s, Admin Re, the closed-book consolidator of life and health policies, has invested £5m in a new cloud-based unified communication and contact centre platform.

Wearable technology: tailor-made for health insurers
08 January 2015 Wearable technology appears set to boom among consumers in 2015 and beyond –presenting both huge commercial opportunities, but also reputational and anti-selection challenges for life and health insurers globally.

Ghanian insurance regulator rolls out new solvency regime
07 January 2015 Ghana’s insurance regulator, the National Insurance Commission (NIC), has reportedly introduced a new solvency regime for local insurers and reinsurers to comply with.

AEGON Religare Life unveils two online plans
07 January 2015 Aegon Religare Life Insurance has launched a unit-linked insurance product (Ulip) and a return-of-premium term product - exclusively on the online platform.

L&G improves application process for life business protection product
06 January 2015 Legal & General has announced a £1m investment into improving one of its core business protection products, Relevant Life Plan (RLP).

Fitch forecasts stable 2015 outlook for UK life insurance market
06 January 2015 Fitch Ratings has forecast a stable outlook for the UK life insurance sector in 2015, indicating that most ratings are likely to be affirmed in the next one to two years.

Ageas sells Ageas Protect to AIG for £197m
05 January 2015 Ageas has completed the sale of its 100% shareholding in Ageas Protect, its UK life protection company, to AIG for £197m.

NN Group sells ING-BOB Life China stake to BNP Paribas Cardif
02 January 2015 Insurance and investment management company NN Group, which was formerly part of ING Group, has completed the sale of its 50% stake in its Chinese insurance joint venture, ING-BOB Life Insurance Company, to BNP Paribas Cardif.

Kotak Life Insurance rolls out new online pure protection plan
02 January 2015 Kotak Mahindra Old Mutual Life Insurance (Kotak Life Insurance) has released its new policy known as Kotak Preferred e-Term Plan, an online pure protection plan.

December 2014

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Aviva Life Insurance names new CEO for India operations
31 December 2014 Global insurer Aviva Life Insurance has named Trevor Bull as the new CEO and managing director for its operations in India.