All articles by LII editorial
LII editorial
Wells Fargo Insurance blazes acquisition trail
A unit of US bank Wells Fargo & Company, WFIS report that it now ranks as the fifth largest insurance brokerage in the world and the largest bank-owned insurance brokerage in the US
Conseco’s attempt to triple premiums fails
No stranger to controversy, US insurer Conseco Life has been taken to task by Judge A Howard Matz of the US District Court for the Central District of California in a class action lawsuit against the insurer brought by aggrieved policyholders
Rating agency warns of tough times ahead for US health insurers
A plethora of regulatory change combined with political and economic factors are working together to create an uncertain environment for US health insurers
Solid growth predicted in the UAE
The DCCI predicts that the UAEs insurance market will achieve an overall CAGR of 10.4% between 2010 and 2014, with premium income rising from AED22.55m ($6m) in 2010 to AED33.5m
China Life and PICC fall foul of state auditor
The companies involved are China Life Insurance (Group) Company, the parent of Chinas largest life insurer, China Life, and Peoples Insurance Company of China (PICC), the parent of Chinas largest general insurer, PICC Property & Casualty
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US individual life activity still on the decline
Application activity in the US individually underwritten life insurance sector in 2010 did not reflect what market players would like to see an increase Across all age groups, average year-on-year (Y-o-Y) application activity in December 2010 was 1.4% down, which MIB emphasised was less than the 3%-plus annual declines the industry experienced from 2006 to 2008
Alternate asset managers feel pressure on fees
Investors are looking for more value for their money when it comes to asset management, indicates a study of trends in 2010 by Mercer
Foreign insurers flock to Vietnam
Though still small in terms of premium income, Vietnams life insurance market is attracting a steady stream of new foreign entrants The attraction is the prospect of immense growth potential driven by the countrys large, youthful population and an economic growth rate that is second only to that of Chinas. In the shadow of high-growth insurance markets in China and India when it comes to media coverage, Vietnam is steadily progressing as yet another major Asian insurance success story
Poizner’s anti-Iran stance takes a knock
California Insurance Commissioner Steve Poizners fight to prevent insurers in the state from owning shares in companies with Iranian business connections has received a major setback from a ruling by the US states Office of Administrative Law (OAL) that his efforts constitute an invalid “underground regulation
Ireland goes from boom to gloom
Ireland is hitting the worlds news headlines, regrettably all for the wrong reasons, as the recipient of an 85bn ($110bn) bailout by the European Union (EU)