All articles by Ronan Mccaughey
Ronan Mccaughey
Aging population means boost for Italian life market
The Italian life insurance segment is expected to increase in written premium value from 73.86bn (US$102.8bn) in 2011 to 83.24bn in 2016, at a CAGR of 2.4% over the forecast period, according to a report, Life Insurance in Italy, Key Trends and Opportunities to 2016, which is available at the Insurance Intelligence Center (IIC)
Scottish Life helps advisers become ‘RDR ready’
Scottish Life, a division of Royal London Group, has announced introduction of new business illustrations for advisers, in the lead up to the implementation of the Retail Distribution Review (RDR) Advisers can now obtain RDR ready illustrations for the providers individual pensions and group pensions through Scottish Lifes online service or from the National Support Unit Ewan Smith, managing director of Scottish Life said: Now were launching a comprehensive range of remuneration options, for adviser charging and for consultancy charging to provide further support to advisers.
L&G research reveals pensions savings shift
The report, 353, looks at the intergenerational contract on a household and family level between the 2012 generation of 35 year olds and their parents generation the 35 year olds of 1977. It found that in 1977, the state pension provided 53% of the average income of retired households, with a further 18% coming from company or private pensions
China’s CIRC approves new life insurance JV
Pramerica Fosun Life Insurance Company, (PFL) the proposed 5050 joint venture between Prudential Financial and Chinas Fosun International, has been officially approved by the China Insurance Regulatory Commission (CIRC) to begin operations.
Research suggests new way to think about sustainable investing
Asset owners, asset managers, consultants and governments are struggling with what it means to be a sustainable investor, with many finding the practical implications and applications of sustainability off-putting, according to Towers Watson research. The global research project was conducted in conjunction with Oxford University and was supported by 22 asset managers and eight prominent investment thinkers.
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EU may delay Solvency II until 2015
The introduction of Solvency II could be delayed until 2015 a year later than originally planned with such a scenario leading industry commentators to hit out at the European Union (EU). The current application dates of the new solvency II rules are 30 June 2013 for EU member states to transpose the rules into national law, and 1 January 2014 for companies to apply the new rules. However, Life Insurance International understands that wrangling between European co-legislators and Michel Barnier, the EU commissioner responsible for the internal market and services, means the issue of Solvency IIs entry into force will need to be clarified by all parties over the coming weeks
Call for gender pricing awareness campaign
Kevin Carr, CEO of Protection Review, which has been established to provide independent commentary on thelife and health protection markets said: We have spoken to hundreds of advisers in recent weeks and it seems that around half of those we meet are completely unaware of G-day and the potential client issues it brings, not just for protection for also for annuities
Simplicity ‘the key’ to online life insurance best practice in Asia
A new report has recommended that life insurers in Asia use simple language, multi-media and a well-organised menu structure that allows prospects to easily analyse how much of one type of insurance protection they need as key points in the online sales process The report, which was recently published by consulting firm Celent, explained that although the internet has entered the sales process for life insurance in some Asian markets for about 10 years, its use and the premium generated through this channel are minimal.
The power of enterprise social networking
When it comes to social networking and financial services, the focus is increasingly on enterprises having their own social networks, rather than using consumer social networking sites, according to James Fabricant, CEO and Founder of IdeaPlane, an enterprise social network Another perceived barrier for entry we have come across for some life insurers and private bankers, is the pressure to cut costs and boost efficiency in the current financial environment, said Fabricant
Consumers trust the internet most for life insurance
Swiss Res European Insurance Report 2012 has revealed that the internet is the most trusted source of advice for life and protection insurance with approximately 25% of respondents citing this channel, compared to about 105 of financial advisers or brokers An insurance company and friends and family ranked second and third respectively in terms of the most trusted sources concerning life and protection insurance