life insurance News

UK Insurer Aviva Sells Stake in Italian Life Unit for $475 Million

Aviva Plc is selling its stake in its Italian life insurance joint venture for about 400 million euros ($475 million) as Chief Executive Officer Amanda Blanc continues her revamp of the firm. The insurer will sell its 80% holding in …

Home, Pet Insurer Lemonade Bypasses Auto in Favor of Life… for Now

Lemonade plans to start selling term life insurance in the next 90 days, adding to its current rental, homeowners and pet insurance offerings, the company said in an earnings report this week. During an investor conference call, Lemonade executives confirmed …

India Weighs Sale of 25% Stake in Nation’s Biggest Life Insurer

India is planning to seek cabinet’s approval to sell 25% stake in the nation’s largest life insurer, people with knowledge of the matter said, as Prime Minister Narendra Modi seeks resources to plug a widening budget gap. The government plans …

Canadian Life Insurers to See Double-Digit Profit Drop in Q2 on COVID-19 Impact

Canadian life insurers are set to see double-digit earnings decreases in the second quarter as the pandemic-induced economic slowdown has ushered in decade-low interest rates and weighed on sales. Analysts predict declines in underlying earnings per share of between 10% …

Swiss Re-Backed Nigerian Life Insurer Sees Sales Surge as Pandemic Starts Taking Hold

Nigeria’s biggest insurer is seeing more demand from the government and employers of health workers for life cover as the coronavirus pandemic starts taking hold in Africa’s most populous country. “Health workers are demanding it, other state governments and municipalities …

HSBC’s Life Insurance Unit to Buy Out Joint Venture Partner in China

HSBC Holdings PLC said on Monday its insurance unit had agreed to acquire its China life insurance venture partner’s 50% stake to own fully the company under the new rules on foreign ownership that came into effect in January. The …

South Korean Insurers Hit Hard by Evaporating Investment Returns

Insurers the world over have been walloped by evaporating investment returns, but those in South Korea have been hit particularly hard. Just consider this: The nation’s second-largest life insurer became a penny stock this month. Hanwha Life Insurance Co. has …

Life Insurers Go Slow on New Policies to Limit Coronavirus Risk

U.S. life insurers are trying to curb their own risks to coronavirus by imposing waiting periods for applicants who have traveled to regions with widespread outbreaks, industry experts said. Life insurers are worried about insuring U.S. customers who have traveled …

China’s Fosun Considers Sale of German Insurer Frankfurter Leben: Sources

Chinese conglomerate Fosun International Ltd. is exploring options including a potential sale for its German insurance business Frankfurter Leben Holding GmbH, people with knowledge of the matter said. Fosun has held talks with potential advisers about options for Frankfurter Leben, …

Blackstone’s Lombard Could Face Legal Issue with $1B-Plus of Unsigned Policies

For nearly a decade, Lombard International sat on a secret. It began to unravel in May 2016 when a wealthy German walked into a Luxembourg bank. The man wanted a loan. For collateral, he offered a future payout from a …