All articles by LII editorial
LII editorial
Singapore off to a flying start
Ever volatile, Singapores life insurance industry is again enjoying a period of vigorous growth, reveal figures for the first quarter of 2011 from the Singapore Life Insurance Association (LIA).
SCOR snaps up Transamerica Re
In a move that will propel it into second position in the US life reinsurance market, French reinsurer SCOR is to acquire Transamerica Re from Dutch insurer Aegon for $912.5m For Aegon, the sale will also result in an additional $500m in capital being released and enable it to repay the Dutch government the remaining 750m ($1bn) of the 3bn it received in emergency assistance in October 2008 The purchase price represents a 46% discount to Transamerica Res book value of $1.7bn at the end of 2010 and a price to earnings ratio of 9.1 based on the reinsurers net profit of $102m in 2010
Brazilian regulations ‘misguided’
Brazils government is under attack from 18 insurance bodies worldwide following its decision to drastically amend regulations governing reinsurance in the country In brief, the Brazilian government insurance regulator, the National Private Insurance Council, introduced two regulations on 31 March
Old Mutual turns to mobile with microinsurance solution
Among the latest to adopt the solution is the South African unit of UK insurer Old Mutual, which has launched a mobile phone-based payment system targeting consumers who may be unable to commit to long-term, regular monthly payments
Single parents top the list of America’s uninsured
Yet in the US this is the group most likely not to have any form of life insurance, reveals a study conducted by life insurer Genworth Financial in conjunction with Gregory Fairchild, associate professor at the University of Virginia, Darden School of Business.
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Life association puts low figure on Japan earthquake death claims
Precisely how much life insurers will pay out in claims relating to the earthquake and tsunami that struck Japan on 11 March remains uncertain, with the latest estimate from the Life Insurance Association of Japan (LIAJ) now standing at $2.4bn
Goldman Sachs buys its way back into China’s life market
The vendor in the deal is Axa, which received the go-ahead from the China Insurance Regulatory Commission to sell its 15.6% stake in Taikang Life in early-March.
US insurers must look to middle market
Life insurers must look to the middle market to drive growth in life insurance sales in the US
Irish Life Assurance to be put on the selling block
From a high of 22.70 ($31.50) per share in February 2007 it has collapsed to its current 0.15 per share in the wake of Irelands devastating economic problems.
US companies face daunting pension deficits
This left a funding deficit of $172.2bn (15.7%) which, although an improvement on the $181.8bn (17.7%) at the end of 2009, was still well below the $94.6bn (10.2%) surplus recorded at the end of 2007