All articles by LII editorial
LII editorial
Equitable Life saga draws to an end
The finale comes with the governments announcement that it has accepted the Independent Commission on Equitable Life Payments scheme to compensate policyholders that suffered losses following the near collapse of the mutual insurer a decade ago
Barclays’ big-bet on the online advisory channel
Barclays explained that it had conducted a detailed review of its financial planning advice and that its decision reflects the emerging trend that customers are increasingly purchasing and managing their investments online
Allianz thinks big on microinsurance
Bajaj Allianz Life is making impressive strides in its strategy of becoming a major player in Indias potentially enormous microinsurance market This is in keeping with the thinking of its strategic investor, Allianzs global strategy aimed at growing microinsurance into a significant contributor within 10 years. One of the more onerous requirements imposed on insurers in India is that services must be extended to rural areas, which in virtually all instances demands the sale of microinsurance products
Punjab National Bank eyes bigger role in Indian insurance market
Among a number of moves in this direction is an invitation it has extended to local and international companies to submit interest in partnerships, with the aim to establish a venture in Indias life and general insurance markets
Entrepreneur takes on big guys in New Zealand
Starting a new life insurance company from scratch is a big step and one two New Zealanders, Naomi Ballantyne and Richard Coon, have just taken with the founding of Partners Life
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Big flaws in Australia’s superannuation system
Australias superannuation (super) system is the envy of many countries struggling to come to terms with the pension needs of ageing populations But despite the A$1.3trn ($1.3trn) super industrys success, all is not well, warns super industry body Industry Super Network (ISN) in a study into the use of how older Australians are using their super funds The ISN noted that in modelling the adequacy of current retirement income policy, the Federal Treasury has for some time assumed that all retirement accumulations are invested at retirement in term or life annuities
US female retiree market abounds with potential
This is the message comes through loud and clear in a study undertaken by not-for-profit organisation the Insured Retirement Institute (IRI) which concludes that female clients represent “tremendous” opportunities in the retirement planning market. Emphasising the significant role being increasingly played by women in the workplace and in household financial affairs, IRI president and CEO Cathy Weatherford said: “From managing a corporate bottom line, to determining the family finances, women increasingly are the decision makers when it comes to important financial situations
Facing a wave of daunting challenges
After a mauling by the great recession in 2008 and 2009, the UKs life insurance industry is emerging from the depths
AIG’s restructuring takes major steps forward
In another important step in its restructuring, American International Group (AIG) is to sell its 97.57% stake in its Taiwan unit, Nan Shan Life, to Ruen Chen Investment Holding Company for $2.16bn cash
Social media becoming a must-have for advisers
Financial advisers who ignore rapidly growing social media networks such as Facebook, Twitter and LinkedIn do so at their peril Or so findings by research firm Aite Group strongly suggest, with advisers employing the social networking phenomenon in their business enjoying greater success than those ignoring it To assess the impact of social networks, Aite Group conducted a survey of financial advisers in the US in the fourth quarter of 2010