A Timetric briefing service

News Archive

Archive of industry news from the global life insurance industry

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May 2015

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US life (re)insurance start-up Nassau Reinsurance Group raises over $750m for launch
21 May 2015 US-based Nassau Reinsurance Group has raised over $750m of initial capital to build an insurance and reinsurance platform focused on the life, annuity and long-term care sectors.

RFIB Group launches life reinsurance unit
21 May 2015 RFIB Group, the international Lloyd’s insurance and reinsurance broker, has launched a life reinsurance unit with the appointments of Michael Crawcour, as divisional director and Valentine Stockdale as account executive.

Swiss Re: UK protection market grows by 4.1% YoY
20 May 2015 Swiss Re’s annual snapshot of the UK protection market has reported that in 2014 1.67m new term assurance, whole life, critical illness and income protection policies were sold, a year-on-year (YoY) increase of 4.1%.

Star Union Dai-ichi Life Insurance Company launches new endowment assurance plan
20 May 2015 Star Union Dai-ichi Life Insurance Company (SUD Life) has rolled out a new non-linked non-participating guaranteed return endowment assurance plan.

Moody's: Australian life insurers' profits under pressure through to 2016
20 May 2015 The profitability of Australian life insurers will be under pressure throughout 2015 and 2016, due to the policy lapses and rising claims seen for their risk products, according to Moody's Investors Service.

Lincoln Financial Group introduces indexed universal life insurance product
19 May 2015 Lincoln Financial Group has rolled out an indexed universal life (IUL) insurance offering designed to help clients achieve goals related to wealth protection and legacy planning, tax efficient income or business needs.

Aegon UK makes protection product enhancements
19 May 2015 Aegon UK has upgraded its range of protection cover to include improved definitions, an increase in the level of cover and extended age limits.

Sun Life Financial adopts Aon PathWise variable annuity platform
18 May 2015 Sun Life Financial has adopted the Aon PathWise variable annuity risk management technology platform in order to boost its operational performance.

Delaware Life Insurance Company rolls out new annuity product
14 May 2015 Delaware Life Insurance Company has launched the new Retirement Chapters 10 Fixed Index Annuity.

Accenture: Partnership is key in the digital insurance era
14 May 2015 Nearly two-thirds of insurers plan to engage with new digital partners in the insurance industry, according to a recent report by Accenture, Digital Insurance Era: Stretch Your Boundaries.

BCCL to buy Religare’s stake in Aegon Religare Life Insurance
13 May 2015 Bennett, Coleman and Company (BCCL) has agreed to buy Religare Enterprises’s 44% stake in life insurance joint venture Aegon Religare Life Insurance.

Timetric: China’s life market begins to open up
13 May 2015 China’s life insurance market is beginning to open up and become more innovative – and together with rising disposable incomes and increased awareness of insurance products – this should boost growth in the Chinese life segment.

Rothesay Life to purchase Zurich’s legacy UK annuity business
12 May 2015 Zurich UK Life has signed an agreement to transfer its legacy portfolio of immediate annuities to Rothesay Life.

Aetna and Starr Companies launch PMI plans for the Philippines market
11 May 2015 US health insurer Aetna and Starr Companies have launched two international private medical insurance products for expatriate and local employees of companies based in the Philippines.

Aviva’s Asia global life CEO spells out region’s insurance opportunities
08 May 2015 Insurance growth in Hong Kong is being driven by worries about savings, healthcare and retirement, according to Chris Wei, CEO global life insurance and chairman Asia, at Aviva.

Marsh acquires Sumitomo Life Insurance Agency America
07 May 2015 Insurance broker Marsh has acquired Sumitomo Life Insurance Agency America (SLIA).

AXA to raise stake in India's Bharti insurance JVs to 49%
06 May 2015 French insurer AXA has reportedly received approval from the Indian government to raise its stake in two local insurance joint ventures with Bharti Enterprises to 49%.

Sun Life Hong Kong makes several senior appointments
06 May 2015 Sun Life Hong Kong has made a number of senior executive appointments as part of its new organisational structure.

AIG Life unveils whole of life insurance product
05 May 2015 AIG Life – previously known as Ageas Protect – has launched a whole of life insurance product in the UK that comes with access to Best Doctors, a second opinion medical service.

USAA releases insurance app for smartwatches
05 May 2015 US-based insurance and banking provider, USAA, has released a smartwatch app for the Apple Watch and Android Wear, which is now available in the Apple Store and through Google Play.

AXA Gulf signs ten-year bancassurance deal with Bank Muscat
05 May 2015 AXA Gulf has reportedly inked a ten-year partnership deal with Bank Muscat to provide life insurance and health products to the bank’s customers.