A Timetric briefing service

News Archive

Archive of industry news from the global life insurance industry

News By Date

May 2016

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AIG Life ‘fields good’ about NFUM partnership
05 May 2016 AIG Life and National Farmers Union Mutual (NFUM) have agreed a partnership whereby NFUM will distribute AIG Life products on an exclusive basis to their customers in the UK.

FINRA fines MetLife Securities $20m relating to variable annuities
04 May 2016 The Financial Industry Regulatory Authority (FINRA) has imposed a $20m penalty on MetLife Securities (MSI) for 'negligence' in connection with variable annuity replacements.

American National unveils new life insurance plan
03 May 2016 American National Life Insurance Company of New York (American National) has released its new life insurance plan, dubbed Signature Plus Indexed Universal Life Insurance (IUL).

Guardian launches voluntary permanent life insurance offering
03 May 2016 Mutual life insurer, the Guardian Life Insurance Company of America (Guardian), has added workplace voluntary permanent life insurance to its product offerings.

Japan’s Sony Life to open representative office in Singapore
03 May 2016 Tokyo-based Sony Life Insurance, a wholly owned life insurance subsidiary of Sony Financial Holdings, has decided to open a representative office in Singapore.

UK health insurance costs among highest in Europe
03 May 2016 UK health insurance costs are anticipated to grow by 6.5% in 2016 – the largest increase in five years – according to Willis Towers Watson’s 2016 Global Medical Trends report.

April 2016

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Irish health insurer VHI to foray into life insurance market
28 April 2016 VHI, an Irish government-owned health insurer, is all set to foray into life insurance market under the VHI Life brand.

US insurance dept launches lost life policy locator service
25 April 2016 The New Hampshire Insurance Department in the US has created a lost life policy locator service to assist residents and their families in locating life policies and annuity contracts that have been purchased in the state.

Pacific Life Re appoints Darren Spriggs as MD for European business
22 April 2016 Pacific Life Re has appointed former AIG Life MD, Darren Spriggs, as managing director of its Europe business unit.

Insurance Europe warns of misunderstanding over Solvency II liabilities
21 April 2016 Insurance Europe, the European insurance and reinsurance federation, has warned there seems to be a misunderstanding over how Solvency II liabilities are currently calculated, including the discount rates.

UK life insurers face market volatility threat from Brexit
21 April 2016 Fitch Ratings has said a vote by the UK to leave the European Union (EU) would add to operational and regulatory complexity for UK insurers active in the EU, but should be manageable.

VitalityLife introduces finger-prick blood testing to UK life insurance market
19 April 2016 VitalityLife has become the first life insurer in the UK to introduce finger-prick blood testing in order to improve the customer experience as it saves the need for large needles.

FWD Group enters Singapore insurance market
18 April 2016 FWD Group, the insurance arm of Asia-based Pacific Century Group, has acquired a 90% stake in Singapore’s group medical insurance provider Shenton Insurance from Parkway Holdings, an indirect wholly-owned subsidiary of IHH Healthcare Berhad.

Allianz Worldwide Care unveils security and risk services for global employers
18 April 2016 Allianz Worldwide Care, an Ireland-based health and life insurer, has released its security and risk management services for multinational companies that operate in high-risk or unstable areas.

Mutual Trust Life goes live with Sapiens ALIS policy administration system
15 April 2016 Mutual Trust Life (MTL), a life insurance company, has implemented the Sapiens ALIS policy administration system to support its life insurance business.

Massmutual to combine US insurance, retirement operations
13 April 2016 MassMutual has decided to club its US insurance and retirement operations into a single, integrated business unit to drive future growth and deliver enhanced customer experience.

Generali Global Health offers international health plan for group market
11 April 2016 International private health insurer, Generali Global Health (GGH), has launched an international health plan called Global Choice that is targeted at the group market.

US government to challenge MetLife SIFI decision
11 April 2016 The US Department of Treasury has confirmed that it would appeal against the verdict of the US District Court for the District of Columbia, which has ordered removal of MetLife's designation as a non-bank systematically important financial institution (SIFI).

Rothesay Life to buy Aegon’s UK annuity portfolio
11 April 2016 Rothesay Life has signed an agreement to buy £6bn of annuities portfolio from Scottish Equitable, the UK subsidiary of Aegon N.V.

Court scraps US government’s labeling of MetLife as 'too big to fail'
08 April 2016 The US District Court for the District of Columbia has scrapped the federal government’s decision to designate insurer MetLife as a non-bank systematically important financial institution (SIFI).

Bharati AXA Life releases Super Series life insurance policy
07 April 2016 Bharti AXA Life Insurance Company, an India-based private insurer, has introduced a non-market linked life insurance plan.