All articles by Verdict Staff
Verdict Staff
Fitch expects Solvency II to drive increased demand for reinsurance
Solvency II will increase demand for reinsurance products as under the new regulatory regime insurers can strengthen their capital position through risk transfer, says Fitch Ratings.
Capita and FRS land fund admin contract from Hawthorn Life
Capitas life and pensions business in Ireland, in partnership with Financial Risk Solutions (FRS), has been awarded a five-year contract to provide fund administration for Dublin-based life assurance company Hawthorn Life.
Cyber security best practice for life and health insurers
With 70% of large insurance firms having reported a serious hacking attempt, Robert Rutherford, CEO of the business and technical consultancy QuoStar, says it is clear hackers are still capitalising on dated technology. He explains insurers do not have to entirely revamp their IT systems to implement a successful cybersecurity strategy – in fact, technology is the last piece of the cyber security puzzle.
How Biological Age May Affect Life Expectancy Calculation
Francisco Garcia, Gen Re Life/Health General Manager, Madrid, explains that standard remaining life expectancy is based on nothing more than current chronological age (and perhaps gender). In Garcia’s view, this is only a very crude estimate as it is known that factors including nutrition, lifestyle and disease history influence mortality and, in turn, an individual’s life span.
Securian, Annexus introduce new indexed universal life insurance plan
Securian Financial Group has forged a partnership with Annexus and released a new indexed universal life (IUL) insurance policy Balanced Growth Advantage with uncapped interest crediting potential.
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Nationwide launches two fixed indexed annuities for risk-averse clients
US-based Nationwide has released two fixed indexed annuities (FIAs) to help advisors with risk-averse clients approaching retirement plans deliver an option for some growth potential with the comfort of a principal guarantee.
Stages in high-net-worth individuals’ (HNWIs) insurance needs
This graph shows high-net-worth individuals’ (HNWI) insurance needs at different life stages
UK launches DWP online pension tracing service
The UK Department for Work and Pensions (DWP) has unveiled an online Pension Tracing Service to enable people locate approximately £400m of their lost retirement savings.
PRA publishes consultation paper on Solvency II internal model changes by insurers
The UKs Prudential Regulation Authority (PRA) has published a consultation paper setting out its expectations on firms and the Society of Lloyds in relation to changes to internal models and extensions to the scope of internal models that have been approved under Solvency II.
FINRA fines MetLife Securities $20m relating to variable annuities
The Financial Industry Regulatory Authority (FINRA) has imposed a $20m penalty on MetLife Securities (MSI) for ‘negligence’ in connection with variable annuity replacements.