All articles by LII editorial
LII editorial
Pacific Life thinks big in life retrocession market
In a deal that will make it North Americas biggest provider of life retrocession insurance, US insurer Pacific Life Corporations Pacific Life Re unit is to acquire Canadian insurer Manulife Financials life retrocession business unit, Manulife Life Retrocession, for an unspecified amount.
Falling gilt yields bad news for annuity buyers
Investors seeking a safe haven amid the global equity market turmoil have been switching aggressively into government bonds, in the process driving their yields down to either multi-decade lows or near lows
Allianz hailed as being greenest of the green
In its Best Global Green Brands 2011 survey, global brand rating company Interbrand has ranked the European insurer as the greenest financial service company in the world
Qatar to get new life and health insurer
This follows the Qatar Financial Centre Regulatory Authoritys granting of a licence to Qatar Insurance Company (CIC) to establish a new wholly-owned unit to be named Q-Life & Medical which will have an initial capital of QAR100m ($28m)
Ray of hope on US retirement savings front
Americans are known for their optimism and that is being reflected in their increasing participation in retirement plans, even as the economy continues to struggle,” said E Thomas Foster Jr, vice-president of the insurers retirement plans group
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MetLife puts ‘for sale’ sign on banking unit
MetLife, the largest life insurer in the US, has put up a for sale sign on its banking unit, MetLife Bank The move indicates MetLife wants to avoid potentially stricter regulation of large banks which it would face because of its status as one of the US 10 largest bank holding companies
AIG gets go ahead for Nan Shan Life sale
Almost two years on, American International Group (AIG) has finally received approval from Taiwans Financial Supervisory Commission (FSC) to sell its 97.57 percent stake in Nan Shan Life to a consortium led by a unit of Taiwanese conglomerate Ruentex Groups Ruen Chen Investment Holding Company
Singapore sets cracking first-half growth pace
The increase followed a 44.6% rise in premium income in the first quarter of 2011 and took total premium income in the first six months to SGD941.5m, 38% more than in the first half of 2010
Manulife IBM for outsourcing support
Building on a decade-long relationship with IBM, Canadas largest life insurer Manulife Financial has entered into an outsourcing agreement with the US technology giant worth a total of about C$630m ($660m) over the agreements seven-year life.
Low interest rates have US insurers on edge
But for insurers it is creating a monumental problem, battering their prospective investment income while at the same time driving up the expected cost of future liabilities, observes Towers Watson in a new study.