Life
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The Insurance Collaboration to Save Lives is seeking life insurers to join an effort to deploy proactive health screening to reduce excess mortality.
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Prior to securing the top A&H job, Andrew Maynard was global product lead for wholesale life and A&H.
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The Berkshire Hathaway-owned carrier is looking to make “major contributions” to the region.
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The transaction will near-double the size of Chubb’s A&H book and increase its Asia premium from $4bn to $7bn.
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The executive has worked for Ergo, Direct Line and Generali.
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The deal, pitched at a multiple of 12.2x 2019 earnings, follows disposal agreements for Axa in the Gulf, central and eastern Europe and India.
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The investor wants the Finnish insurer to build on this week’s sell-down of Nordea Bank shares with further divestments.
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Carriers expect only marginal gains and remain concerned that the UK overhaul will jeopardise equivalence.
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The Japanese reinsurer already offers P&C cover out of its Zurich subsidiary.
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The carrier is undergoing a strategic review of its business operations under new CEO Amanda Blanc.
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The German carrier and the Apollo-backed life insurer team up for a bid which could be worth an estimated $2.3bn-$3.5bn.
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Swiss Re, ReAssure’s previous majority holder, now holds a 13.3% stake in the listed buyer.
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The reinsurer will disband its life capital unit, making digital platform iptiQ standalone, as the unit's chief moves to the CUO role.
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Citigroup and RBC note the reinsurer’s strong solvency position.
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Reserve strengthening across the unit housing Antares pushes the underwriting ratio further into the red.
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The World Bank's pandemic insurance bond covers the virus, and is designed to trigger if deaths impact multiple nations.
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The City veteran says CEO Tulloch’s boardroom “refreshment” means it’s time for a new chairman.
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Regulators need time to approve new information following the sale of Genworth MI Canada.
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The deal includes Security Life of Denver and Midwestern United.
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The cash-and-stock transaction values the closed life group at the top end of the range implied in an abortive IPO.
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The former UK life sciences manager replaces Karen Strong, who has left the business.
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Jenny Yu, who was at the German reinsurer for nine years, will join the broker in January.
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The Sigma report said the expansion will be led by China.
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The executive took over the finance role from Tom Stoddard in July.
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Singaporean and Vietnamese businesses are reportedly in scope for disposal.
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The state-established company will take control of the P&C, life, pension and asset management operations.
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The business is likely to be valued at around $500mn, according to market sources.
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Practice group chairman Roger Smith says the unit will help the broker respond to clients’ needs strategically.
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The development follows Aviva’s review of its Asian life, general and health insurance unit.
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The acquisition from Quilter will add £12bn in assets to ReAssure’s platform.
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The CFO tells analysts the US MidCorp business will come under particular scrutiny.
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The UK’s Aviva is considering putting its Asian division up for sale, the Business Times of Singapore reported.
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The exercise of the over-allotment option follows the sale of $834mn of shares in June.
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The latest Sigma report said premium growth is shifting east to Asia, while the US remains the largest market.
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The closed life insurance unit will be floated on the LSE’s main market.
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Along with co-investor MS&AD, the reinsurer will increase the unit’s capital by more than $610mn ahead of listing.
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The French insurer holds just over 48 percent of New York-listed Axa Equitable Holdings.
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The acquisition takes Zurich’s share of the Australian retail life market to around 20 percent.
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An arbitrator ruled the buyout firm is owed $1.2mn for ex-employees’ use of confidential information.
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The executive becomes UK and Ireland leader for P&C and life within the broker’s insurance consulting and technology operation.
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The money will be put to work to back Athene, Athora and Catalina.
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With two consecutive years of heavy catastrophe losses, it’s clear why Swiss Re won’t throw caution to the wind – even though the days when it went cap in hand to Warren Buffett are long gone.
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Axa is set to cut its stake in US life subsidiary Axa Equitable Holdings to under 50 percent.
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The German carrier’s deal with Bulgaria’s Euroins follows an agreement to divest Russian operations.
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The broker joins the special contingency risks unit
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Axa XL was in the headlines yesterday for making up to 7.5 percent of its workforce redundant.
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Herbie Lloyd and Andrea Cavalleri have been named co-CIOs for non-life and life business respectively.
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The Brazilian unit of AGCS and the London market has exposure to the loss, sources said.
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The system will cut claims handling times by 30 minutes.
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Cardiff City FC has a £16mn personal accident policy which would cover the missing footballer Emiliano Sala.
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Brian Shea has transferred to the international reinsurance team from its securities business.
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Vasudeva has a remit to simplify Axa’s operations in the British Isles.
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The carrier has signed a deal with a unit of Groupama and the local government.
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Sometimes corporate announcements look so futuristic that one suspects the planned move is never going to happen.
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Colin Forrest replaces Frank Schepers as head of the division.
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News of the bid interest comes as Swiss Re prepares the $4.5bn business for an IPO.
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The Japanese carrier increases its stake to 25 percent as its Zurich peer explores an IPO for the closed life vehicle.
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Liberty Luxembourg is lined up to lead the vehicle, which will target SMEs in Europe and the US.
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‘Zombie storm’ expected to bring heavy rain and flooding to northern Australia.
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The transaction is expected to close in the second quarter of 2019.
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Losses from Hurricane Michael have trended at the top of loss estimates.
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The modelling agency predicts the historic Camp Fire to generate between $6bn and $9bn in losses.
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The reinsurer pegged global insured losses at $25bn, and overall cyclone losses at $51bn.
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Backer Anthemis notes that sector innovation has largely bypassed construction insurance.
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The carrier predicts an underwriting result of 1 percent of net earned premiums in 2019 and 2020.
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The devastating impact of the California wildfires this autumn has made for some horrific reading.
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Cal Fire estimates that at least 11,858 buildings have been razed by the Camp Fire in Butte County.
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The buyout firm has acquired 19.9% of the AIG legacy business.
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The Hannover Re parent reiterates annual group profit forecasts for this year and next.
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The business has a book value of between $4bn and $5bn.
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Lloyd's life syndicates set to dwindle to two amid licensing issues.
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The German investment bank says a Covea/Scor combination "makes no sense".
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Across InsurTech as a whole, 71 companies secured financing in the three months ended June.
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The agreement follows bid interest from Swiss Re.
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AIG and Carlyle aim to make legacy vehicle DSA Re a standalone entity in 12-18 months.
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The US financial services firm brought in the investment bank to sell its individual life unit.
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The business held about $85mn of in-force premiums as of May.
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Uber, Lyft trips come with accidental death and injury cover bought by smartphone.
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Adding the predictive firm will boost PartnerRe’s life and health sector offerings.
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The insurer says it has officially exited the run-off life and annuity business.
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The investment marks the next phase in Allianz's move to expand its African presence.
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CEO Emmanuel Clarke says higher interest rates dealt a short-term blow to earnings.
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Axa will have no problem funding its $15.3bn takeover of XL Group but the disappointing IPO of Axa's US life insurance business will make it harder to sell the acquisition.
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Pricing for the insurer's US life IPO falls short of the $24-$27 indicative range.
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Hiscox and Axa to provide accident and liability cover for the food delivery firm's riders.
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A federal judge has demanded details of the defendants’ insurance coverage by 30 April in an attempt to bypass years of litigation.
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Willis Re has hired Franck Pinette from Guy Carpenter as managing director of its EMEA life and health practice.
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Axa has announced the launch of the IPO of its life company Axa Equitable Holdings (AEH) at a price range of between $24 and $27 per share.
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Exin Group faces a EUR5mn ($6.1mn) penalty if it withdraws from the purchase of a majority stake in Ethniki, according to a Greek press report.
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Liberty Mutual has agreed to sell Liberty Life Assurance Company of Boston to Lincoln Financial Group for $3.3bn
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What does it mean to be a Bermudian (re)insurer?
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For some, the move to launch Langhorne Re might seem like a stretch even further beyond the competencies of a one-time property cat specialist.
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RenaissanceRe's joint venture with Reinsurance Group of America will bring a diversifying stream of asset management earnings to the Bermudian's third-party capital management arm, while also giving it access to a wider pool of investors.
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Reinsurance Group of America (RGA) and RenaissanceRe have launched Langhorne Re, a life reinsurer that will target in-force life and annuity blocks.
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AIG is said to be looking closely at insurance assets of Commonwealth Bank of Australia (CBA), following CEO Brian Duperreault's pledge in May to pursue growth
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CF Corporation completed its $1.84bn purchase of Fidelity & Guaranty Life less than two days after Iowa’s insurance commissioner approved the deal.
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Genworth and China Oceanwide have agreed to extend a takeover deadline again from tomorrow to 1 April and provide a space to reformulate the proposed $2.7bn deal to meet any concerns from US federal regulators and overseers in China
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Schroders has launched a life insurance-linked securities (ILS) fund with $750mn of committed capital spread across several mandates.
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Tokio Marine Kiln (TMK) has asked Lloyd's for permission to close Syndicate 308, its specialist life insurance business, The Insurance Insider can reveal
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AIG has shown interest in acquiring the life business of Suncorp Group, according to reports in the Australian Financial Review
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People have been looking to The Hartford for a deal
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The Hartford's ongoing market valuation will ultimately depend on its ability to slough off its unloved run-off variable annuity business Talcott Resolution, according to analysts
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The Hartford has surprised the market with a $1.45bn move to acquire Aetna's US group life and disability business, despite widespread speculation that the company had been looking to transition to an almost pure-play P&C insurer.
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The Hartford’s $1.45bn deal to buy Aetna’s group benefits business likely dulled the carrier’s allure as a takeout target and that may explain a 4.3 percent drop in the company’s shares today.
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The Japanese big three have a long history of refusing to trade together. And in the past they have been pretty ruthless in cutting out reinsurers that are related to their rivals
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The Japanese big three have a long history of refusing to trade together. And in the past they have been pretty ruthless in cutting out reinsurers that are related to their rivals
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Japanese insurer MS&AD Insurance Group Holdings has agreed to invest up to £800mn ($1.04bn) in Swiss Re's UK closed life book consolidator ReAssure.
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