A Timetric briefing service

News Archive

Archive of industry news from the global life insurance industry

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June 2016

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Insurance market eyes uncertainty following Brexit vote
24 June 2016 Insurance businesses were hit by the Brexit vote as shares fell heavily across the sector today, with shares in Aviva down 17% at the opening of business.

Brexit will have no significant operational impact: Aviva
24 June 2016 Reacting to the UK referendum on EU membership, life insurer Aviva said that Brexit will have no significant operational impact on the company.

Prudential quits annuity market
23 June 2016 Prudential will no longer offer its annuities on the open market but will continue offering contracts to existing customers.

Aegon offers doner cover with CI policy - UK first
22 June 2016 Aegon has become the first UK protection insurance provider to offer donor cover as part of a critical illness (CI) policy.

Allianz to acquire Zurich's Moroccan subsidiary
22 June 2016 Allianz Group has agreed to acquire Zurich Assurances Maroc, a subsidiary of Zurich Insurance Company in Morocco for €244m.

Majority of life insurers expect raise in pandemics over 5-10 years, says Munich Re
22 June 2016 Nearly three-fourths (70%) of life insurance underwriters expect the number and severity of epidemics and pandemics to increase over the next five to 10 years, reveals a new survey by Munich Re US Life.

MassMutual launches online insurance platform ValoraLife
20 June 2016 MassMutual has rolled out its new online insurance platform known as ValoraLife.com, enabling families in Houston to buy affordable life insurance plans online.

Guardian upgrades its whole life insurance offerings
17 June 2016 The Guardian Life Insurance Company of America (Guardian) has enhanced its whole life insurance offerings by adding Lifetime Protection Builder and Enhanced Whole Life Policy Loan Options.

UK insurer LV= appoints new CEO
17 June 2016 LV=, a UK-based insurance company, has appointed Richard Rowney as its new chief executive officer (CEO).

Max Life, Max Financial Services to merge with HDFC Life
17 June 2016 Max Financial Services and Max Life Insurance Company have entered into discussion with HDFC Life insurance to combine their operations and emerge as a prominent insurer in the Indian market.

AXA Equitable modifies LTC rider
16 June 2016 AXA Equitable has refined its long term care rider in order to make long term care (LTC) coverage available to more customers.

EIOPA and CIRC sign MoU
15 June 2016 The European Insurance and Occupational Pensions Authority (EIOPA) and the China Insurance Regulatory Commission (CIRC) have signed a memorandum of understanding (MoU).

Cigna Insurance Services appoints Andy O’Cain as head of BD
15 June 2016 Cigna Insurance Services (Cigna), a UK provider of specialist white-label insurance and affinity marketing services, has appointed Andy O’Cain as head of business development.

How wearable technology is influencing the insurance industry
15 June 2016 The impact of wearable technology on the insurance industry is illustrated in an infographic link in this article depicting its effect on the front office, policy services, underwriting and pricing and claims.

Denplan founder Dr. Marilyn Orcharton joins board of stem cell insurance plan provider
15 June 2016 Dr. Marilyn Orcharton, the founder of Denplan, is helping to roll-out the world’s first insurance plan for the global stem cell industry, CellPlan.

Zurich names Anne Torry to head its UK life business
14 June 2016 Zurich has appointed Anne Torry as head of its life business in the UK, and CEO of its legal entities Zurich Assurance and Sterling ISA Managers.

Voya expands fixed indexed annuity portfolio
14 June 2016 Voya Financial, a US retirement, annuities life insurance provider has expanded its suite of fixed index annuity products by launching the Voya Quest series of annuities.

Eric Taylor joins AIG in senior annuity role
13 June 2016 AIG has named Eric Taylor senior vice president, independent annuity and accident and health distribution.

PwC: top threats InsurTech poses to insurers revealed
13 June 2016 Almost half (48%) of insurers fear that up to 20% of their business could be lost to standalone FinTech companies within the next five years, says a new PwC report.

PICA completes $1.1bn longevity reinsurance deal with UK's PIC
13 June 2016 Prudential Insurance Company of America (PICA) has completed a longevity reinsurance transaction with Pension Insurance Corporation (PIC), a UK-based specialty insurer of defined benefit pensions.

ICMIF MORO panel: Reinsurance M&A activity expected to continue
10 June 2016 Senior industry figures expect M&A activity in the reinsurance market to continue because there is a perception that players “need to be a certain scale”.