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News Archive

Archive of industry news from the global life insurance industry

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July 2015

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Legal & General in talks to divest French operation to APICIL
31 July 2015 Legal & General (L&G) has entered into exclusive negotiations to divest its French insurance operation to French insurer APICIL Prevoyance.

Towers Watson releases data validation software tool
30 July 2015 Towers Watson has launched a data validation software tool to help insurers use their data more efficiently across financial modelling analytics, pricing applications and risk management.

Standard Life keen to increase stake in HDFC Life to 35%
29 July 2015 UK-based Standard Life is reportedly keen to increase the stake in its Indian life insurance joint venture (JV) HDFC Life to 35% from the existing 26%.

Allianz Worldwide Care names Ida Luka-Lognoné as new CEO
28 July 2015 Allianz Worldwide Care has appointed Ida Luka-Lognoné to succeed Ron Buchan and become its new CEO. Allianz Worldwide Care is the international health and life insurance division of Allianz Worldwide Partners and part of the Allianz Group.

Fitch: Asset risk concern for Taiwanese life insurers
28 July 2015 Taiwanese life insurers have been investing in higher-risk assets for better yields, leaving their capitalisation vulnerable to unfavourable capital and currency market movements, according to a Fitch Ratings’ report.

Fidelity & Guaranty Life introduces modified single premium annuity
28 July 2015 Fidelity & Guaranty Life, a provider of fixed indexed annuities (FIA) and fixed indexed universal life products, has introduced an annuity offering designed to provide income payments for retirees.

Aviva launches digital hub in Singapore
27 July 2015 Aviva has launched a digital hub in Singapore to enable its teams to develop and test insurance ideas and services that make financial services more tailored and accessible for customers.

Chinese insurer Anbang closes acquisitions of Vivat insurance and Delta Lloyd bank
27 July 2015 China-based Anbang Insurance Group has closed the takeover of SNS Reaal's insurance arm VIVAT Verzekeringen for approximately €150m ($164.91m).

Brazil's Caixa plans to hold IPO for insurance subsidiary
27 July 2015 Caixa Economica Federal, Brazil's state owned bank, is planning to divest as much as 25% of its insurance subsidiary through an initial public offering (IPO).

Manulife Singapore makes senior leadership appointments
24 July 2015 Manulife Singapore has appointed Carlos Vazquez and Wendy Walker to its senior leadership team as part of its strategic growth plans.

Meiji Yasuda signs agreement to acquire StanCorp for $5bn
24 July 2015 Tokyo-headquartered Meiji Yasuda Life Insurance Company has entered into a definitive agreement to acquire all outstanding shares of StanCorp (The Standard) for $115 per share in cash.

Swiss Re to offer new digital platform for insurers to sell protection products online
23 July 2015 Swiss Re has partnered with software company Backbase to develop a new digital platform for selling and servicing life and health products online.

CII elects Robert Fletcher as new president
22 July 2015 Robert Fletcher has been elected the 119th president of the Chartered Insurance Institute (CII) at its annual general meeting.

AXA eyes opportunity to buy Genworth Lifestyle protection insurance
22 July 2015 AXA has entered into exclusive negotiation with Genworth Financial for potentially acquiring 100% of Genworth Lifestyle Protection Insurance for €475m.

Southland National Insurance to acquire Colorado Bankers Life
22 July 2015 Southland National Insurance Corporation (SNIC) will acquire Dearborn National Life Insurance Company's (DNL's) wholly-owned subsidiary Colorado Bankers Life Insurance (CBL).

Voya Financial launches new indexed universal life insurance policy
22 July 2015 US-based Voya Financial's individual life business has released a new cash value life insurance plan that enables consumers to protect the financial future of their loved ones while building cash value that can be used to supplement retirement income.

Competition Commission of India permits Religare to exit insurance joint venture
21 July 2015 The Competition Commission of India (CCI) has reportedlly permitted Religare Enterprises to divest its entire stake in the insurance joint venture (JV) with Aegon and Bennett, Coleman & Co (BCCL).

Euroins to acquire Credit Agricole's life insurance subsidiary in Greece
21 July 2015 Bulgarian insurance group Euroins Insurance Group (EIG) has reportedly agreed to purchase the Credit Agricole's Greek life insurance unit.

Fitch: Chinese life insurers to issue more equity-like hybrids
20 July 2015 The more granular capital regime under the China Risk Oriented Solvency System (C-ROSS) is spurring Chinese life insurers to issue more equity-like hybrid securities, according to Fitch Ratings.

Digital transformation tips for life insurers
17 July 2015 Anand Vyas, head of banking, financial services and insurance at software quality specialist SQS, has recommended five digital transformation tips for life insurers.

MetLife unveils innovation centre in Singapore for life insurance industry in Asia
17 July 2015 MetLife, a global provider of life insurance products and services, has launched its innovation centre in Singapore that is claimed to be business creation engine for life insurance industry in Asia.