All articles by Verdict Staff
Verdict Staff
News Digest
Northwestern and Nippon Life join forcesNippon Life of Japan and Northwestern Mutual of the US, two of the worlds largest mutual insurers, are to assist each other in pursuing investment opportunities in their respective home countries with the goal of strengthening their respective asset management operations.
News Briefs
Standard Life ups Indian stake… AIG shrugs off US lending jitters… Individual business still falling…
News Digest
US annuity sales head for record year… New life settlements trading platform set for launch… Standard Life launches green initiative…
News Digest
Aviva opts for consolidation… Legal & General goes Nationwide… Lucida off to a strong start…
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News Digest
US private equity firm JC Flowers (JCF) has completed the acquisition of the life and commercial insurance and retirement services divisions of the former BISYS Group from US bank Citigroup
News Digest
A problem insurers face in developing countries is the difficulty many customers experience in accessing payment points. Indian insurer Max New York Life (MNY) has a solution that harnesses the mobile phones ability to provide communications even in remote areas. In conjunction with US bank Citibank and Indian mobile payments technology developer mChek, MNY has launched a mobile phone based payments service that enables customers to pay premiums and subscribe to and add funds to unit linked investments. The service is linked to customers bank accounts.
Facing strong economic headwinds
As a developing market, Hungary has shown itself capable of delivering life insurers above-average premium income growth However, with many developing markets come risks, as Hungary is now showing as it battles to correct severe fiscal imbalances at the expense of a drastic reduction in economic growthHungarys life insurance industrys growth rate displayed a marked slow-down during 2007, a development that became particularly evident in the second and third quarters of the year, according to data from the Association of Hungarian Insurance Companies (AHIC) Hungarys economic situation suggests that this may be the first sign of tougher times ahead for insurers.
News Briefs
Barclays Bank and UK insurer Prudential have signed an agreement that makes Prudential the preferred supplier of conventional annuity products to the banks UK retail clients