All articles by LII editorial
LII editorial
Costly sequel to Keydata collapse
The collapse of UK life settlements firm Keydata Investment Services in June 2009 has had unpleasant repercussions for Norwich and Peterborough Building Society (N&P) which has been fined £1.4m ($2.25m) by the Financial Services Authority (FSA) for the mis-selling of Keydata products.
EIOPA stress test a time-waster
Though he expressed himself in more diplomatic terms, Peter Vipond, the Association of British Insurers (ABI) director of financial regulation and taxation, has effectively told the European Insurance and Occupational Pensions Authority (EIOPA) to stop wasting insurers time Vipond was responding to an announcement by EIOPA of the second Europe-wide stress test for the insurance sector in the run-up to implementation of the EU Solvency II regulatory regime at the start of 2013
Ping An sets first quarter pace
Results for the first quarter of 2011 from Chinas two largest life insurers were very much a case of contrasts, with China Life reporting a sharp fall in profit and Ping An robust growth
Northwestern Mutual most admired life insurer
The US mutual insurer received the leading position in the life and health insurance industry sector, earning seven out of nine key attributes:
A busy year for Aetna
The acquisition of Prodigy Health Group is in keeping with Aetnas strategy of diversifying its product offerings and adding new revenue streams,” said Aetna chairman, CEO and president Mark Bertolini.
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Judgement landmark sets DB fund precedent
The court case had its origins in a decision taken by Prudential in November 2005 that in future pensions increases would be in line with the retail price index subject to a normal annual maximum increase of 2.5%
BNP Paribas insurance units united under Cardif brand
Single-brand strategies have gained another adherent, French bancassurer BNP Paribas, which has united its insurance operations under the name BNP Paribas Cardif
Mitsui Sumitomo expands in Asia
Mitsui Sumitomo Insurance (MSI), Japans third-largest general insurer, has set its sights on Indonesias life market with the proposed purchase of a 50% stake in Asuransi Jiwa Sinarmas (Sinarmas Life) from Indonesian conglomerate Sinar Mas
Japan set to power Prudential’s growth
Long active in Japan, Prudential Financial has taken its exposure in the country to a new level with the acquisition of two of AIGs life units
FirstIndia off to a flying start in first 500 days
Newcomer to Indias life market IndiaFirst Life Insurance has got off to a flying start, recording INR9bn ($204m) in its first 500 days of operation