A Timetric briefing service

News Archive

Archive of industry news from the global life insurance industry

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September 2014

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Helvetia completes acquisition of Basler Austria
01 September 2014 Switzerland-based insurer Helvetia has completed the previously announced acquisition of Basler Versicherungs-Aktiengesellschaft in Austria, in a transaction valued at approximately €130m.

Sun Life Financial unveils new data analytics decision-support tool
01 September 2014 Sun Life Financial has rolled out a new data analytics decision-support tool that has been designed to deliver demographic benefit analysis, customized to each workplace.

August 2014

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Aflac Japan to launch exclusive cancer insurance policy for Japan Post and Kampo
29 August 2014 Aflac Japan will roll out a cancer insurance product exclusively for Japan Post Co and Kampo (Japan Post Insurance) on 1 October 2014.

Willis purchases IFG Ireland Businesses
29 August 2014 Willis Ireland, part of Willis Group, has purchased a number of Irish pension and financial advisory businesses from IFG Group to enhance its existing pensions business and its financial and wealth-planning services to individuals.

Mapfre forays into US life insurance market
28 August 2014 Mapfre Insurance, a US-based personal automobile insurance provider, has forayed into the life insurance market in the country.

Hannover Re America and LTCG boost strategic partnership
27 August 2014 Hannover Life Reassurance Company of America (Hannover Re America) has boosted its strategic alliance with LTCG to support life/LTC hybrid products with a total risk management solution.

Munich Re and Australian broker Steadfast to purchase Calliden Insurance business
27 August 2014 Munich Re's primary insurance subsidiary Great Lakes Australia (GLA) has agreed to support Australia's largest broker network Steadfast Group (Steadfast) in its proposed acquisition of Calliden Group.

Colonial Life launches two new life insurance policies
26 August 2014 Colonial Life & Accident Insurance Company has released two new life insurance plans to enable the US employers and their employees protect and preserve their hard earned money.

RGA to provide longevity risk protection to Dutch life insurer Delta Lloyd
22 August 2014 Reinsurance Group of America (RGA) has agreed to provide longevity risk protection and capital benefit on reserves of nearly €12bn to Delta Lloyd Levensverzekering, the Dutch life insurance arm of the Delta Lloyd Group.

ACE Life, AEON to provide life insurance through telesales channel
22 August 2014 ACE Life has teamed up with AEON Insurance Service (Thailand) to jointly provide various types of life, personal accident and health insurance products to the customers of AEON Thana Sinsap (Thailand) through telemarketing channel.

Fosun considers buying Swiss Re US life insurance business
20 August 2014 Fosun International is engaged in talks to purchase Swiss Re's US life insurance business Aurora National Life Assurance, as part of its global expansion drive.

CNinsure secures court approval to settle class action lawsuit
20 August 2014 China-based CNinsure has received final approval from the US District Court for the Southern District of New York to settle a consolidated class action lawsuit against the company.

RGA agrees to acquire Voya's $104bn insurance portfolio
18 August 2014 Reinsurance Group of America (RGA) has signed a deal with Voya Financial to reinsure about $104bn of in-force life insurance.

Legal & General to quit ABI insurance trade body
15 August 2014 Legal & General Group (L&G) has decided to quit its membership from the Association of British Insurers (ABI) by 2014 end, saying that a large part of its business falls beyond the trade body's remit.

Maybank's Etiqa enters into Singapore's life insurance market
14 August 2014 Malaysia-based Maybank Group has forayed into Singapore with the launch of its insurance business division Etiqa Insurance.

Philippines central bank allows banks to sell life insurance, ULIPs
13 August 2014 The Bangko Sentral ng Pilipinas, the central bank of Philippines, has permitted banks to sell life insurance policies as part of day-to-day transactions.

Tata AIG General Insurance introduces three new health insurance plans
12 August 2014 India-based Tata AIG General Insurance Company has introduced three new health insurance policies namely MediPlus, MediSenior and MediRaksha.

FCA imposes £8.4m penalty against Stonebridge for mis-selling accident insurance products
11 August 2014 The UK Financial Conduct Authority (FCA) has fined Stonebridge International Insurance (Stonebridge) £8,373,600 for mis-selling accident insurance products to customers.

Zurich Insurance Q2 net income increased by 6% to $837m
08 August 2014 Zurich Insurance Group (Zurich) has reported net income after tax attributable to shareholders of $837m for the second quarter of 2014, with an increase of 6% compared to $789m during the corresponding period last fiscal.

Russia Pension move negative for life insurance market
08 August 2014 The Russian government's plan to retain employees' funded defined pension contributions in the notional defined contribution pension pool in 2015 could stall the development of the country's nascent long-term life insurance market, says Fitch Ratings.

AIG signs agreement to buy UK's Ageas Protect for £181m
07 August 2014 American International Group (AIG) has signed a deal to buy Ageas Protect, a UK life protection carrier from Ageas Group, in a deal valued at approximately £181m ($305m).