All articles by Verdict Staff

ING sells 49% stake in KB Life Insurance

Dutch financial conglomerate ING Groep NV has completed the sale of its 49% stake in Korean insurance venture KB Life Insurance Company Ltd. (KB Life) to joint venture partner KB Financial Group.

National Western Life selects StoneRiver’s electronic application

US-based National Western Life Insurance Company has selected StoneRiver, Inc.’s LifeApply electronic application as its sole solution across all distribution channels to replace existing electronic application solution.

Generali to sell 49% minority stakes in Mexico to Banorte for $858m

The Generali Group has signed an agreement with Grupo Financiero Banorte to sell its 49% minority stakes in the Mexican companies Seguros Banorte Generali and Pensiones Banorte Generali for EUR649m ($857.5m).

HDFC Life launches protection plan compliant with new regulations

India-based HDFC Life Insurance has launched HDFC Life ClassicAssure Plus, a protection-investment plan with limited premium payment term.

SCOR to acquire Generali’s US life reinsurance operations

SCOR Global Life Americas Holding Inc., a subsidiary of SCOR Global Life SE, has agreed to acquire 100% of Generali US Holdings, Inc., the holding company of Assicurazioni Generali SpA’s US life reinsurance operations, for EUR579m ($750m) plus a 2013 earnings adjustment through the closing date.

Dai-ichi Life to acquire 40% stake in Panin Life for $337m

The Dai-ichi Life Insurance Company has signed an agreement to acquire 40% stake in Panin Life of Indonesia for IDR3.3 trillion ($336.6m).

Genworth launches new Index Universal Life insurance product

Genworth Financial, Inc., a US-based insurance holding company, has launched a new Index Universal Life (IUL) insurance product, which is available on a front-to-back electronic platform that features electronic ticket drop, fulfillment and policy delivery.

LII 284, June 2013

AIG, PICC Life to establish agency distribution firm in China

American International Group, Inc. (AIG), People’s Insurance Company (Group) of China (PICC) and PICC Life Insurance Company Limited (PICC Life) have signed a joint venture agreement to form an agency distribution company in China.

Industrial Alliance launches new life insurance product

Industrial Alliance Insurance and Financial Services Inc. has launched Trend, its new life insurance product that will allow clients to take advantage of premium reductions should long-term interest rates go up.