All articles by LII editorial
LII editorial
Auto-enrolment reprieve for small businesses
Bowing to pressure from small business groups, the British government has announced an extension of the deadline for auto-enrolment of employees of businesses with fewer than 50 employees Under the revised deadline, small business must begin automatically enrolling their staff no later than May 2015, instead of the previous timing of April 2014
British workers have little trust in pensions
Across a broad spectrum of workers aged 18 to 55 and above, the IFP found that a mere 29% of people have confidence that contributing to a pension scheme is the best way to save for their retirement.
Manulife takes the plunge into Cambodia
Cambodias embryonic life insurance industry has taken another decisive step forward with the announcement by Manulife Financial that it has been given the go-ahead by the countrys Ministry of Economy and Finance to establish a wholly-owned life insurance business The Canadian insurer said that it had also agreed to provide support to the government in its efforts to develop the countrys life insurance industry
Reliance Industries calls off Bharti Axa Life deal
Under a proposal announced in June 2011, Indian conglomerate Bharti Enterprises was to sell its 74% stakes in its life and general insurance joint ventures (JV) to Reliance Industries (RI) and its subsidiary Reliance Industrial Infrastructure (RII), for an undisclosed sum
US individual life application activity still in the doldrums
Application activity for individually underwritten life insurance in the US during the first 10 months of 2011 eased by 0.4% when compared to the same period in 2010, research firm MIB has reported
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Aviva Singapore offers bet on stronger renminbi
In a pioneering move, UK insurer Aviva has launched the first single premium non-participating endowment plan denominated in Chinese renminbi in Singapore The new product has been branded the Dragon Renminbi Plan (DRP) and offers an annual yield of 2.85%
UK closed life giant under takeover spotlight
Phoenix Group, the largest player in the UKs closed life insurance book sector, has ended speculation in the media by confirming it has received a number of approaches from potential bidders for the company.
MetLife restructures for global growth
MetLifes acquisition of Alico from American International Group (AIG) in November 2010 for $16.4bn catapulted it from being not only the US largest life insurer but also the worlds largest multi-national insurer in terms of life insurance premium income.
Aviva turns to social media
UK insurer Aviva has taken this to heart with the launch of Magic Money, a campaign that uses social media such as Facebook to raise awareness among younger workers about the importance of starting to save early in their lives.
VA book takes big bite out of ING Group’s bottom line
Changes in assumptions relating to the US VA book, which closed to new business in early-2009, will result in an estimated earnings charge of between 900,000 ($1.25bn) and 1.1bn against fourth-quarter 2011 results, the Dutch group has announced.