A Timetric briefing service

News Archive

Archive of industry news from the global life insurance industry

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February 2015

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Aetna International appoints European sales director
27 February 2015 Aetna International has promoted Marco Bannerman to the position of European sales director.

Friends Life and Virgin Money launch new life insurance product
26 February 2015 Friends Life and Virgin Money have launched the first in their range of life Insurance products. The products will be available through Virgin Money and will be underwritten by Friends Life.

Swiss Re: PHI premiums in emerging markets set to double by 2020
25 February 2015 Private health insurance (PHI) premiums in emerging markets are set to double by 2020 as people want and can afford more healthcare, according to a Swiss Re sigma study.

AXA to acquire 7% of African reinsurer, Africa Re
24 February 2015 AXA has entered into an agreement to acquire a 7.15% stake in African Reinsurance Corporation (Africa Re).

UK protection provider Bright Grey extends Helping Hand service
24 February 2015 UK-based protection provider, Bright Grey, which is part of the Royal London Group, is extending its Helping Hand service to include a second medical opinion.

Travel insurer Columbus Direct launches income protection product
23 February 2015 Travel insurance provider, Columbus Direct, has launched its new direct to consumer income protection product.

Impending UK pension freedoms continue to hit annuity sales
20 February 2015 UK sales of enhanced annuities to people with a reduced life expectancy continued their downward spiral in the final quarter of 2014, according to research by Towers Watson.

Making critical illness cover an urgent priority
18 February 2015 An ageing population, medical advances and market innovation mean the growth potential for the global critical illness (CI) market is considerable – but the challenge will be to encourage consumers to view CI as an urgent priority.

Anbang Insurance to buy 57.5% stake in life insurer Tong Yang
17 February 2015 Beijing-based Anbang Insurance Group has entered into an agreement to buy 57.5% stake in South Korean life insurer Tong Yang for KPW1.1trn (US$1bn) from Vogo Investment.

Anbang Group acquires 100% of Dutch insurer VIVAT
17 February 2015 Anbang Insurance Group has acquired 100% of Dutch insurer VIVAT – making it the first time a Chinese enterprise enters the Dutch insurance market.

Unum revamps group life proposition
16 February 2015 Protection provider Unum has revamped its group life proposition, with an emphasis on simplicity and adding value.

ICICI Bank, Prudential to offload stake in insurance JV
13 February 2015 ICICI Bank and Prudential are planning to sell up to a 5% stake in their life insurance venture, ICICI Prudential Life Insurance, to financial investors at a valuation between $5-6bn.

Spain’s life insurance market forecast to grow
13 February 2015 With rising demand for guaranteed return products and the increasing need for pension products, Spain’s life insurance sector is expected to grow from 2013-2018.

VitalityHealth makes exec changes to capitalise on PMI opportunity
12 February 2015 VitalityHealth, the business formerly known as PruHealth, has appointed Greg Levine as its director of corporate and intermediated business.

John Hancock redesigns term life insurance product
12 February 2015 John Hancock Insurance has “re-engineered” its term life insurance product, which is aimed at changing consumers’ perceptions that life insurance is too expensive.

L&G stresses importance of customer relationship management
11 February 2015 Legal & General has urged financial advisers not to underestimate the importance of customer relationship management when it comes to writing protection business.

A.M. Best: Russian life sector growth to slow
10 February 2015 After a significant uplift in recent years, the rate of growth in Russia’s life insurance sector is expected to slow down, according to A.M. Best.

Engage Mutual report projects UK serious illness figures
09 February 2015 Over 3m people aged over 50 live with a serious illness in the UK, according to a report from UK-based Engage Mutual

Nippon Life, Dai-ichi plan to acquire 5% stake in Resona bank-report
09 February 2015 Japanese insurers Nippon Life and Dai-ichi Life are reportedly engaged in negotiations with local banking group Resona to purchase a 5% stake in the bank.

Bahrain’s compulsory health insurance scheme boosts prospects for health insurers
06 February 2015 Bahrain’s health insurance market is set to be boosted by the launch of a compulsory health insurance scheme for expatriates and nationals in the country.

UnderwriteMe boosts Scottish Provident’s sales by 30%
06 February 2015 Protection technology businesses, UnderwriteMe, has said its partnership with Scottish Provident since September 2014 means the insurer, which is part of the Royal London Group, has experienced a 30% increase in new business.