All articles by Peter Johnstone
Peter Johnstone
Sun Life expands Asian footprint with Vietnam JV
Sun Life Financial hopes to become a market leader in Vietnam after agreeing a joint venture with Vietnamese insurer PVI Holdings. PVI will own 51% of PVI Sun Life and Sun Life will own the remaining 49% stake
Hollard’s African expansion continues into Zambia
South African insurer Hollard has opened a life insurance office in the Zambian capital of Lusaka, thereby expanding its presence in southern Africa The decision to expand into Zambia is a strategic part of a deliberate plan, said Hollard CEO Nic Kohler, and it extends Hollards regional presence to five countries, including Botswana, Mozambique, Namibia, and South Africa Kohler said: Ever since we embarked on our Southern Africa expansion drive, weve known that Zambia would be an important market for Hollard
India’s LIC appoints new chairman
Life Insurance Corporation of India, the government-owned Indian insurer, has confirmed the appointment of Dinesh Kumar Mehrotra as its new chairman. The Economic Times reported that Mehrotra was approved for the position on 31 May after a year spent as acting chairman following the departure of TS Vijayan Mehrotra has been at LIC for over 30 years, and was the companys managing director from 2005 until he became acting chairman
Nordic life markets: Solvency II and liberalisation to drive changes
Nordic life insurers look set to enjoy continued growth in, but market liberalisation and Solvency II regulation, are likely to reshape the Nordic life sector, according to a new report from Fitch Ratings In the first place, the ratings agency predicts long-term profitable growth opportunities for the Nordic life market due to the strong economic prospects, rising life expectancy and growing consumer awareness of the need for occupational and private pensions to complement state welfare and pensions.
Jackson acquires SRLC from Swiss Re
Jackson National Life Insurance, an indirect subsidiary of Prudential, has agreed to purchase Swiss Res US life business SRLC for $621m. SRLC is a life insurance business that sits within the US division of Swiss Res Admin Re
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AXA denied entry to Taiwanese market
Taiwans Financial Supervisory Commission (FSC) has rejected an application by AXA group to enter the Taiwanese life insurance market According to the Taipei Times, the rejection is a result of concerns over AXAs long term commitment to the Taiwanese market It is reported that AXA applied to make its third entry attempt in January, and had up a preparatory office in Taipei with a staff of 30
Prudential Financial expands US dental insurance business
Prudential is now offering offer dental insurance via Prudential Dental in all 50 US states, with 190,000 provider locations available to employees on a regional basis The provider can offer dental insurance throughout the US because of the expanded offerings of the networks DenteMax, CAREington and CONNECTION Dental along with the 4Most Network in West Virginia and the surrounding areas
MetLife targets emergings markets in growth plan
MetLife intends to drive profitable growth in emerging markets and refocus the US business as part of initiatives to increase shareholder value.
Liberty Mutual appoints chief actuary for group benefits unit
Boston based Liberty Mutual Insurance has appointed Brian Dunham as the new senior vice president and chief actuary of its group benefits operation. Dunham joins Liberty Mutual from Unum, where he was in charge of the pricing and financial responsibility of Unums large case group life and disability business
China Life officially appoints Yang Mingsheng as chairman
China Life has officially appointed Yang Mingsheng to succeed Yuan Li as its new chairman and executive director It came after China Life announced Yuan Li had tendered his resignation as the chairman and executive director of the company due to reallocation to other job duties.