All articles by Verdict Staff
Verdict Staff
ING bows out of Latin American insurance scene
The Dutch group has agreed to sell the bulk of its pensions, life insurance and investment management operations to Colombian investment holding company Grupo de Inversiones Suramericana (Gruposura) for a cash total of 2.62bn ($3.74bn)
Uncle Sam on the hunt for tax revenue
On the hunt for more revenue, the Obama administration is turning its attention to potential new sources lurking in the life industry, including corporate-owned life insurance and life settlements As budget woes worsen in the US, the federal government is looking in every nook and cranny for new sources of revenue.
Brazil burdened by heavy regulation
Brazils life insurance and pensions market is the most highly regulated in Latin America, and insurance penetration rates lag behind more developed countries However, Brazils buoyant economy and the growing numbers of middle-class consumers bode well for life insurers, reports Robin Arnfield.
Brazilian regulations misguided, warn insurance bodies
Brazils government is under attack from 18 insurance bodies worldwide following its decision to drastically amend regulations governing reinsurance in the country. The decision was taken without prior consultation with insurers and reinsurers.
Looking for double-digit growth in 2011
Chiles life industry benefits from a stable economy as well as a strong regulatory infrastructure, which enabled life insurers to weather the financial crisis of 2008-2009
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Nippon Life thinks big in Indian life marke
Making a substantial play to establish itself in Indias life market, Japans largest life insurer Nippon Life has agreed to acquire a 26% stake in Indian life insurer Reliance Life
Zurich and Santander team up in Latin America
As a key element of the alliance, for $1.67bn, ZFS is to acquire a 51% stake in Santanders life insurance, pension and general insurance operations in Brazil, Mexico, Chile, Argentina and Uruguay
Symetra goes for growth in US group life market
Nailing its colours to the mast, Symetra Life Insurance Company has declared its intention to “significantly” expand its presence in the US group life insurance market Symetra intends to drive long-term growth in the group life market by expanding in-house underwriting, claims and actuarial expertise, and investing in field sales support.
Variable annuity sales perk up in the US
Sales of variable annuities (VA) appear to be out of the doldrums, rising by 11% in the second quarter of 2010 compared with the same period in 2009 to $35.5bn, reports financial services organisation LIMRA Also indicating a firm recovery, VA sales in the second quarter of 2010 were 10% higher than sales in the first quarter, taking total sales in the first half of 2010 to $67.9bn, an improved 8% compared with the first half of 2009.
Foreign travel medical claims soar, reports ABI
Travelers who venture abroad without insurance do so at their own peril, figures from the Association of British Insurers highlight. The ABI reports that insurers helped a record number of travelers from the UK needing emergency medical treatment while overseas over the past 12 months Among key indicators, insurers dealt with 366,000 claims for overseas emergency medical treatment and paid out £274m ($420m), £5.3m every week, in meeting the cost of emergency medical treatments for those who fell ill abroad.