All articles by Verdict Staff
Verdict Staff
Share buybacks on the rise in Europe
Share buybacks on the rise in Europe A growing number of European insurers are announcing substantial share buybacks, a trend sparked by a host of factors including surplus capital built up in recent years, a shortage of suitable expansion opportunities and shareholder activism
News Briefs
UK insurer Legal & General (L&G) is set to make its first foray into Indias life insurance market following the signing of a memorandum of understanding with Indias Bank of Baroda (BoB) and Andhra Bank
News Digest
The US Treasury Department has called for comment on what it termed a broad regulatory review it is undertaking of the regulatory structure associated with all financial institutions including insurers, banks, insured depository institutions and securities firms. The key issue driving the Treasury Departments regulatory review is to ensure that US capital markets remain competitive, explained David Nason, the Treasury Departments Assistant Secretary for Financial Institutions.
Californian insurance commissioner scores a resounding victory over Allianz
Allianz Life Insurance Company (ALIC), a US unit of European insurer Allianz, has reached a $10.05 million settlement with Californian Insurance Commissioner Steve Poizner The payment by ALIC followed an investigation into what the California Department of Insurance (CDI) termed the alleged targeting of thousands of seniors in deceptive annuity sales ALIC is the largest seller of annuities in California
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America’s big equity market bet
After three lean years US retirement savings assets enjoyed robust growth between 2003 and 2007 thanks primarily to high investment returns However, in a retirement savings market in which equity mutual funds are the key growth determinant, 2008 has the makings of a very lean year Assets in US retirement plans benefited from positive equity and bond market returns of 5.5 percent and 7.2 percent, respectively, during 2007 and ended the year at a record $17.6 trillion, reveals research conducted by industry body the Investment Company Institute (ICI)
News Briefs
US conglomerate General Electric (GE) and Chinas largest life insurer, China Life, have forged a strategic alliance under which they will join forces to develop and launch yet-to-be specified retail financial products
News Digest
ING Direct USA, the US internet banking unit of Netherlands bancassurer ING Group, is to acquire ShareBuilder, an online brokerage business focused on direct marketing of what ING terms a limited set of simple and high-value investment products
News Briefs
Axa Bank Europe formed… VAs set to take off in Europe… Uniqa takes control of Ukrainian insurer…