All articles by LII editorial
LII editorial
Former top AIG man to head ING Insurance US
In a major reshuffle of its US operations, ING Group has announced that Rodney O Martin Jr is to take up the position of CEO of ING Insurance US Martin, who will report to ING Group CEO Jan Hommen, will join ING US from American International Group where he has occupied the position of chairman of its International Life and Retirement Services unit
Tallying the cost of Japan’s earthquake
On 11 March, tragedy struck Japan when one of the one of the most powerful earthquakes ever to hit the country occurred 74km off the coast of the Oshika Peninsula Officially named Higashi Nihon Daishinsai (Great Eastern Japan Earthquake) by the Japanese government, the devastating tsunami which followed in its wake left thousands dead andbns of dollars of damage in its wake.
Aegis increases reach in UK over-50s sector
Pursuing a strategy to grow its retail distribution capacity in the UK, Dutch insurer Ageas (formerly Fortis) has acquired Castle Cover, a insurance broking firm specialising in the over 50s market, in a £52.8m ($85m) cash deal. This purchase supports our multi-distribution strategy and will build on our existing expertise which is focused on meeting the needs of this customer group,” commented Ageas UK CEO Barry Smith Founded in 2006, Castle Cover brings with it 280,000 customer policies which Ageas notes will increase its total customer base to some two million
L&G and Sainsbury’s extend distribution relationship
A distribution partnership dating back to 2004 between UK life insurer Legal & General (L&G) and Sainsburys Finance, the financial services arm of retailer Sainsburys, has been extended for an unspecified period
Financial crisis hero lands top job at MetLife
On 1 May there will be a new man in the hot-seat of the US largest life insurer when Steven A Kandarian assumes the positions of president and CEO of MetLife from C Robert Henrikson
Subscribe to our Newsletter
Get industry leading news, data and analysis delivered to your inbox
Life insurance baffles many New Zealanders
Much of the reason can be attributed to shear consumer ignorance, indicates a study undertaken by the New Zealand life insurance unit of US insurer, CIGNA.
Genworth turns its back on VA market
Genworth Financials much-ballyhooed exodus from the US variable annuities (VA) market likely will ripple throughout the VA market, and could usher other mid-tier players from the sector.
Final salary pension schemes becoming a rarity in the UK
Once taken for granted, final salary pension schemes are fast becoming a thing of the past in the UK, highlights the National Association of Pension Funds (NAPF) 2010 annual review
Five insurers make it on ethical list
Keeping the insurance industrys flag flying high, five insurers have been named as being among the worlds most ethical companies by the Ethisphere Institute, a non-profit organisation focused on promoting ethical corporate behaviour
Asia-Pacific delivers for Alliance
Alliances Asia-Pacific operations fired on all cylinders in 2010, lifting total revenue from 6.84bn ($9.5bn) in 2009 to 9.3bn, and operating profit from 204m to 342m