A Timetric briefing service

News Archive

Archive of industry news from the global life insurance industry

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July 2014

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Indian cabinet clears deck for 49% FDI in insurance sector
24 July 2014 The Indian Cabinet has approved 49% foreign direct investment (FDI) in the insurance sector, up from the current limit of 26%, in a bid to drive more investment.

Fringe Benefit Group purchases The American Worker Plans
24 July 2014 Fringe Benefit Group has purchased The American Worker Plans (TAWP) from American Westbrook Insurance Services for an undisclosed sum.

Skandia partners with JLT to unveil universal life product
23 July 2014 Skandia International has teamed up with Jardine Lloyd Thompson (JLT) Asia to roll out a variable universal life product for HNW client.

About 70% Canadians not sure about their life insurance coverage: BMO research
21 July 2014 About 70% of Canadians are not sure whether their life insurance policy will offer enough money to support their near and dear ones in case of death, according to a BMO study.

Great-West Life launches voluntary retirement savings plan for Quebec businesses
21 July 2014 Canadian insurer Great-West Life has released a simple offering for Quebec's voluntary retirement savings plan (VRSP) offering retirement planning solutions for the residents of the province.

Kotak Life Insurance unveils new assured income accelerator
21 July 2014 Kotak Mahindra Old Mutual Life Insurance (Kotak Life Insurance) has rolled out a new policy that factors in the rapidly growing cost of living by paying an increasing annual guaranteed income during the payout phase.

Guardian rolls out new fixed deferred annuity with flexible renewal
15 July 2014 The Guardian Insurance & Annuity Company (GIAC), a wholly-owned subsidiary of The Guardian Life Insurance Company of America (Guardian), has unveiled its new fixed deferred annuity featuring flexible renewal and withdrawal options.

CNP Assurances signs bancassurance deal with Banco Santander
11 July 2014 French CNP Assurances has signed an exclusive long-term distribution agreement with Santander Consumer Finance (Banco Santander Group) covering 10 European countries.

Standard Life plans to launch voluntary retirement savings plan
11 July 2014 Standard Life in Canada has obtained all required permissions to provide voluntary retirement savings plans (VRSP) to Québec workers.

UK insurance firms call EU's insurance Solvency II rule unreasonable
10 July 2014 Majority of the insurance firms, both life and non-life, claimed that the European Union (EU) forthcoming Solvency II for insurers from January 2016 is completely unreasonable, a report by Grant Thornton revealed.

Genworth to launch affordable long term care insurance
09 July 2014 Genworth (GNW) has announced that it will launch Privileged Choice Flex 3 featuring FlexFit packages, created to enable millions of US citizens to choose the right set of long term care insurance.

Asset Life Settlements forays into secondary life insurance market
09 July 2014 US-based Asset Life Settlements has forayed into the secondary marketplace to manage the anticipated rise in the demand for life settlement transactions.

Zurich Life Singapore rolls out multi-currency protection plan
08 July 2014 Zurich Insurance Group has unveiled a multi-currency protection insurance policy designed to bridge a gap in the market for flexible life insurance solutions for internationally mobile customers.

June 2014

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Colonial Life teams up with PlanSource for seamless enrollment process
18 June 2014 US-based Colonial Life has teamed up with PlanSource, a cloud-based HR and healthcare SaaS technology company, to provide employers streamlined access to enrollment capabilities and services.

Emirates NBD enters into strategic partnership with MetLife
12 June 2014 Emirates NBD has signed a partnership agreement with MetLife, a global provider of insurance, annuities and employee benefit programs, to offer comprehensive life insurance solutions to its customers.

Prevoir Kampuchea Micro Life partners with Chamroeun Microfinance
12 June 2014 Cambodia-based Prevoir Kampuchea Micro Life Insurance (PKMI) has partnered with Chamroeun Microfinance Limited to offer insurance for those with lower incomes.

Reliance Standard Life unveils new employee leave management service
11 June 2014 Reliance Standard Life Insurance Company, a member of the Tokio Marine Group, has introduced a new employee leave management service primarily for middle market employers.

National Life Group selects FAST’s insurance platform
10 June 2014 National Life Group has selected FAST Insurance Components as its strategic platform.

Symetra Life Insurance introduces new universal life insurance product
05 June 2014 Symetra Life Insurance Company has introduced a survivorship universal life insurance product for clients seeking for low-cost wealth transfer and a legacy planning solution.

DHFL Pramerica Life Insurance unveils new endowment-cum-insurance plan
04 June 2014 India's DHFL Pramerica Life Insurance has introduced a new non-linked endowment-cum-insurance plan, called DHFL Pramerica Flexi Cash.

Heffernan Insurance Brokers acquires Innova Producers Network
04 June 2014 Heffernan Insurance Brokers, a US-based independent insurance brokerage firm, has acquired the assets of Innova Producers Network to stregthen its life insurance division.