All articles by Verdict Staff

Spanish life insurers: weathering the crisis

The life insurance sector in Spain has proved to be resilient to the depressed economy, registering a growth in premiums of 6.3% in 2011, according to the report Life Insurance in Spain, Key Trends and Opportunities to 2016, available at the Insurance Intelligence Center.

Life Insurance in South Korea: A saturated market calling for innovation

The South Korean life insurance industry is expected to record a CAGR of 6.7% through 2016, but its high penetration and increasingly competitive environment indicates that product innovation will emerge as a significant issue for market players, according to the report Life Insurance in South Korea, Key Trends and Opportunities to 2016, available at the Insurance Intelligence Center.

National Life Group names chief information officer

National Life Group, a US-based life insurer, has appointed Sanjay Pandey as its senior vice president and chief information officer (CIO), effective 13 May 2013.

TOWER Limited sells life insurance business to Fidelity Life

New Zealand-based TOWER Limited has sold most of its life insurance business to Fidelity Life Assurance Company Limited.

Protective Life net income decreases in Q1

Protective Life Corporation, a US-based provider of financial security, has reported net income available to common shareowners of $78.3m, or $0.97 per average diluted share, for the first quarter of 2013, compared to $99m, or $1.18 per average diluted share, in the first quarter of 2012.

Hanwha Life selects eBaoTech LifeSystem for Indonesia business

South Korea-based Hanwha Life Insurance Co., Ltd. has implemented eBaoTech Corporation’s life insurance policy administration system, known as eBaoTech LifeSystem Suite, for its new business in Indonesia.

Prudential completes acquisition of Thanachart Life Assurance Company

Prudential plc, through its subsidiary Prudential Life Assurance (Thailand) Public Company Limited has completed the purchase of Thanachart Life Assurance Company from Thanachart Bank Public Company Limited on 3 May 2013.

Aegon to exit CAM partnership

Dutch insurer AEGON N.V. has reached an agreement with Banco Sabadell S.A. to sell its 50% stake in its life insurance partnership originally established with Caja de Ahorros del Mediterráneo (CAM) for a consideration of EUR449.5m ($590.01m).

LII 283, May 2013

HSBC to sell interest in Hana HSBC Life Insurance

HSBC Insurance (Asia-Pacific) Holdings Limited, an indirect wholly-owned subsidiary of HSBC Holdings plc (HSBC), has agreed to divest its 50% less one share in Hana HSBC Life Insurance Company Limited to Hana Financial Group Inc.