All articles by Ronan Mccaughey
Ronan Mccaughey
Allianz Life names new legal department VP
Allianz Life has appointed Mike Fischer as a new vice president within its legal department, where he will oversee the departments oversight of business operations, product development, distribution, and tax.
Colonial Life launches new group term life product
Colonial Life has launched a new group term life product that aims to gives employees an affordable way to purchase coverage Policyholders can also use an accelerated death benefit to help offset the expenses associated with a terminal illness
Nigel Wilson takes the helm at L&G Group
Legal & General Group has appointed Nigel Wilson as group chief executive and the successor to Tim Breedon Wilson will be Legal & General Groups chief executive designate and will formally succeed Breedon with effect from 30 June 2012. Legal & General said Breedon will remain an employee of the company until 31 December 2012 and will undertake an important advisory role on key activities including working on and lobbying for an appropriate outcome on Solvency II.
Handelsbanken to establish new Finnish life insurance company
Swedens Handelsbanken is to establish a life insurance company in Finland in response to the growing need to find new ways to finance health services for the countrys growing population Antti Heinonen, country manager for Handelsbanken Life in Finland, who will be the CEO of the new company, told Life Insurance International that he expects its Finnish life insurance services to be operational in a matter of weeks
MetLife recruits AIG’s Townsend to head Asia region
MetLife has reportedly appointed Christopher Townsend as head of its Asia region, which consists of Japan, Korea, Australia, Hong Kong and China. According to news reports, Townsend will be based in Hong Kong and will joins from American International Group and will report to Metlife CEO Steven Kandarian Prior to joining MetLife, it is reported that Townsend was responsible for the Chartis units operations in Australia, New Zealand and the Pacific Islands
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Allianz signs MOU with Western Union
Allianz and Western Union have signed a memorandum of understanding (MOU) to develop, design and distribute insurance products in several countries around the world. The companies anticipate that Allianz will take the role of product provider and Western Union will serve as the distributor
UK long term care costs set to soar
The total cost of long term care for the elderly in the UK is forecast to rise from £21.8bn ($35.2bn) now to £37.9bn by 2025 a rise of 73.9% according to a report released by financial mutual LV. The Future of Long Term Care report said that as life expectancy in the UK increases, the number of people needing to make use of formal long term care services will grow from 840,184 today to 1.1m by 2025 an increase of 37%
Manulife Financial hires veteran of Asian finance as CFO
Manulife Financial has appointed Steve Roder, who was formerly chief financial officer for AIA Group, as its incoming senior executive vice president and chief financial officer. Among other tasks, Roders responsibilities will include include management and oversight of the companys global financial affairs, including actuarial and capital management
Ghana’s life insurance market takes the Express leap forward
LeapFrog Investments, an impact investment fund, has acquired a majority stake in Ghanaian life insurance provider Express Life making it the largest private foreign investment in the history of Ghanas insurance industry. The plans is for Express to draw on LeapFrogs capital and distinctive operational expertise and become the Ghanaian market leader by offering products often costing less than US$10 per month, and thereby serve Ghanas large untapped market of low-income consumers.
US life insurers urged to tackle underinsurance
Misconceptions over the cost of life insurance may be preventing many consumers in the US from getting the coverage they need, according to a new report. The 2012 Insurance Barometer Study, conducted by the Life and Health InsuranceFoundation for Education (LIFE), and professionaldevelopment organisation LIMRA,found that consumers in the US believe lifeinsurance costs nearly three times the actualprice.