All articles by LII editorial
LII editorial
Life cover to be had at bargain prices
Increased longevity and tough competition have combined to make term life insurance one of the outstanding bargains available in the UK This is highlighted by research undertaken by Moneyfacts, an independent provider of personal finance information Moneyfacts noted that while consumers have seen the cost of general insurance such as motor and household cover spiral, average term insurance premiums have in some cases halved over the last decade
BUPA Australia closes in on MBF
The board of mutual health insurer MBF Australia has recommended acceptance of a A$2.41 billion ($2.1 billion) cash acquisition offer from BUPA Australia, a unit of UK health insurer BUPA According to BUPA Australia (BUPA), the offer represented a significantly enhanced and final proposal and followed an initial undisclosed offer made in August 2007 to MBF, Australias largest private insurer An acquisition of MBF by BUPA would represent an about-turn for MBF, which had previously announced that it was planning to demutualise and list on the Australian Securities Exchange
Allianz solves Dresdner dilemma
For some time the sale of Allianzs Dresdner Bank unit has been in little doubt, being, rather, more a question of who would be the buyer The question has been answered with the news that Allianz is to sell Dresdner to Commerzbank and embark on an alternative bancassurance strategy in Germany. Speculation over the future of Allianzs Dresdner Bank has been rife
A huge protection gap opportunity
When it comes to retirement wealth creation Australians have made impressive strides thanks to the success of superannuation funds The same cannot be said for using life insurance to protect their wealth, a shortcoming that presents life insurers with a significant opportunity to expand their reach Introduced in 1992 as the key element of a sweeping reform of Australias retirement system, superannuation (super) funds have become the dominant feature of the countrys savings market
Insurers face life settlements dilemma
Insurers face life settlements dilemma They may not like it, but life insurers have no alternative but to acknowledge that the life settlements market is here to stay and will continue to grow rapidly
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Allianz walks off with top honours
On an international basis, Allianz has been honoured as the worlds most ethical insurer, while in the worlds most populous Muslim-majority country, Indonesia, it has been named as the best Islamic (takaful) insurer The award as the most ethical insurer was bestowed on Allianz by the Ethisphere Institute, an organisation described as a think-tank dedicated to the research and promotion of profitable best practices in global governance, business ethics, compliance and corporate responsibility.
Opportunities squandered in UK pension market
Opportunities squandered in UK pension market Despite increasing slightly over the past few years, contributions to defined contribution (DC) pension schemes in the UK still fall short of supporting decent pensions for the majority of people, warns Tony Pugh, UK head of defined contribution pension services at human resources consultancy Mercer
Insurers plan to implement Solvency II on the cheap
Most large European insurers are not planning on splurging vast sums on implementing the European Unions Solvency II regulatory requirements governing capital adequacy for the insurance industry, reveals a study by management consulting and technology services company Accenture Accenture found that during the period before Solvency II comes into force in 2012, one-quarter of insurers surveyed expect to spend more than 25 million ($37 million) on attaining compliance, one-third between 5 million and 25 million and the remainder, about 40 percent, less than 5 million.
US insurers become big online advertising spenders
US insurers become big online advertising spenders The US insurance industry is turning increasingly to the internet as a marketing platform and will this year spend $980 million on online advertising, up 36 percent compared with the $720 million it spent in 2006, according to internet research company eMarketer
A new insurance approach to longevity risk
In a claimed world first, UK pension scheme buyout specialist Pension Corporation has launched a longevity insurance product designed to protect defined benefit pension funds and their sponsors against the cost of pensioners living longer than expected The product is offered by Pension Corporations Pension Insurance Corporation (PIC) unit which has the capacity to underwrite up to £20 billion ($39.5 billion) of pension liabilities The policy offered by PIC will reimburse pension funds for the cost of any future pension payments that arise from pensioners living longer than expected