All articles by Verdict Staff
Verdict Staff
Insurance sales boost US banks’ bottom lines
US banks that sold insurance during 2008 were generally more profitable than those that had no involvement in insurance, indicates a study by bancassurance data research firm Bank Insurance Market Research Group (BIMRG).
Technology comes to insurers’ aid
Meeting the demand for effective risk management required under Europes Solvency II regulatory regime represents a major task for insurers, many burdened by inadequate systems. Fortunately, technology can solve many of the challenges insurers face, explains SAS senior executive Bart Patrick. Approval of the Solvency II Framework Directive by the European Parliament on 22 April marked a major step in a process of radical reform of the European Unions insurance regulatory regime which began some five years ago and is due for implementation in October 2012. At its core, Solvency II is risk-based and places significant demands on insurers to satisfy regulators of their capital adequacy and risk management capabilities.
News Digest
MassMutual enters Chinese market, Sun Life seizes UK growth opportunity, The Hartford in search of a new leader, Fortis gets another CEO, US individual life sales nosedive in first quarter, Florida regulator formalises ties with German counterpart, Generali broadens its direct reach in Italy, Barclays and CNP target southern Europe, ING aims to slash costs in home market, UK specialist life insurer set to change ownership, ING and Eureko join for Greek health push, HSBC gets go ahead for China joint venture, FSA aims to wield an even bigger stick
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News Digest
Canadian insurers get government backing, New York Life bolsters bank channel capacity, The Hartford decides to go back to its roots, US banks record modest growth in 2008, Strong calls for accounting reform, Activity slides in UK buyout market, Goodbye Norwich Union, Allianz extends Formula One sponsorship, European Life Settlement Association launched, Avivas China strategy achieves a key goal, India moves to liberalise bank channel, Aegon opts for solution from Algorithmics
News Digest
(FREE) commissioner tells insurers to play fair, Swine flu creates dilemma for industry, Aviva takes steps to strengthen financial fortifications, UK gets first HIV cover, Tesco teams up with Friends Provident, Aviva bolsters Russian pension market position, Malaysia eases limits on foreign insurers, Allianzs successful foray into micro-insurance, Generali enters UAE life market, Aegon rids itself of a costly Asian problem
News Digest
New York Life reports soaring sales… UK longevity product specialist calls it quits… FSA triumphs in lifetime ban hearing…
News Digest
ING sells Canadian general insurer … Shenandoah Life falls prey to financial crisis.. Serious Fraud Office launches AIG probe…
News Digest
Protective Life joins approved TARP queue… AIG puts property unit on the selling block… BNP Paribas extends its reach in Taiwan…