All articles by LII editorial
LII editorial
New China Life heads for a dual listing
Among New China Lifes existing shareholders, the largest is state-owned Central Huijin Investment, which in December 2009 bought a 38.8% stake in the insurer from the China Insurance Protection Fund
Aviva and Delta Lloyd drift apart
Subject to shareholder approval, Aviva will execute a private placement of 25m Delta Lloyd ordinary shares at 17.25 ($24) per share, a move that will reduce its stake in Delta Lloyd from 58.2% to 43.1% and generate gross cash of £381m ($610m)
Allianz and Banco Popular strengthen ties in Spain
In a move aimed at strengthening their relationship stretching back over two decades, Allianz and Spanish bank Banco Popular are to form a new joint venture, Allianz Popular
Generali faces tough battle in Vietnam
Generali first entered Vietnam in late-2009 through the establishment of a representative office and in late-2010 was granted a preliminary licence Generalis formal entry into Vietnam through its owned unit Generali Vietnam Life Insurance Company brings the number of Asian countries and jurisdictions in which now it operates to eight
RDR comes under heavy attack
The sweeping regulatory change is now the subject of a parliamentary probe which has major implications for the UK life industry.
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Canadian defined benefit pension schemes on downhill slide
Based on a survey of executives responsible for more than 150 Canadian pension plans, Towers Watson found that 51% of DB funds have been converted to defined contribution arrangements for current or future employees, up from 42% in 2008
Zurich Australia forms separate units
In a move to align its structure with that of its parent, Zurich Financial Services Australia (Zurich Australia) is to split its operations into separate general and life insurance units
Critical illness cover in US gets little attention
But despite this and the role they can play in times of distress, critical illness policies have attracted little interest, indicates a study undertaken by industry body the American Association for Critical Illness Insurance and reinsurer Gen Re
UK pensions risk transfer market powers ahead
There is no end in sight for the boom in the UKs defined benefits pension scheme risk transfer market, indicates a study by actuarial consulting firm Hymans Robertson Our analysis illustrates that it won’t be long before £50bn ($80bn) of pension scheme risk has been transferred to insurance companies and banks,” commented James Mullins, Hymans Robertsons head of buy-out solutions Since the UKs pension scheme risk transfer market began in earnest some five years ago, risks associated with about £30bn of pension scheme liabilities, according to Hymans Robertson.
Warburg Pincus snaps up Chinese life broker
In yet another change in the landscape of Chinas insurance market, Chinese life and general insurance broker CNinsure has sold its 55% stake in Beijing Fanhua Datong Investment Management Company one of its two life insurance distribution units to Winner Sight Global, an affiliate of US private equity firm Warburg Pincus