All articles by LII editorial
LII editorial
Foreign insurers face big decision
Although Chinas life insurance market has grown spectacularly and holds the promise of more to come, foreign players are losing market share ground steadily
FSA attacks ‘toxic’ life settlement funds
The FSAs warning sparked a rush for the exit door by investors in one of the largest of these funds, the EEA Life Settlements Fund, forcing its managers, Guernsey-based EEA Fund Management, to halt redemptions. FSA MD Margaret Cole spelled out the regulators concerns in no uncertain terms, emphasising the damage caused by past failures of life settlements products.
Life insurers’ low interest rate woes
The worst of the credit risk crisis may be in the past for the US insurance industry, but new threats are emerging in the form of the lowest interest rates seen in the country since the early 1950s, according to a new study by Conning Research & Consulting.
TIAA-CREF Life boosts its high net worth reach
Significantly expanding its reach into the US ultra high net worth investor market, TIAA-CREF Life Insurance Company (TIAA-CREF Life) has forged an exclusive distribution agreement with M Financial Group
Insurance technology vendors end legal battle
The battle began in December 2007 when Accenture filed a suit against Guidewire in which it accused its rival of having infringed certain of its claims management patents and of having stolen trade secrets relating to claims management technology Accenture had developed
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Korean insurers taken to task for colluding
Koreas competition authority, the Korea Fair Trade Commission (KFTA), has come down heavily on some of the big-names in the countrys life insurance industry, dishing out fines totalling KRW365.3bn ($325m) to 16 insurers which it accused of having operated as a cartel between 2001 and 2006
Legal & General sets new UK buyout record
Setting a new record in the UKs defined pension scheme buyout market Legal & General (L&G) has entered into a bulk annuity contract with the trustees of the Turner & Newall (T&N) Retirements Benefit Scheme, Alexander Forbes Trustee Services, worth £1.1bn ($1.75bn)
New York health insurers back down
A disagreement between health insurers in New York State and the New York Department of Financial Services (DFS) over disclosure issues has ended in victory for the departments superintendent Benjamin M Lawsky The conflict was sparked by the DFS ruling in September that health insurers in the state must make planned rate increases public
Economic crisis puts growth on hold
A Central and Eastern European success story, Slovenia and its efficient, well-regulated insurance industry enjoyed robust growth until the onset of the financial crisis in 2008 In terms of size, Slovenias insurance industry is one of the smallest in Europe
Social media grabs producers’ attention
There can be little if any doubt remaining that social media in its various forms is here to stay as an important communication medium in the life insurance industry