life insurance News

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 …

Korean Insurer Plans to Boost Overseas Investments to Escape Low-Yield Trap

South Korea’s third-largest life insurer plans to boost overseas investments to almost a third of total assets, joining the growing ranks of investors that are taking more risks as bond yields decline. Kyobo Life Insurance Co. will raise its holdings …

Swiss Re’s UK Unit ReAssure to Be Valued at up to $4.2B in IPO

UK life assurance business ReAssure will be valued at up to 3.3 billion pounds ($4.2 billion) when it floats on the London Stock Exchange, its largest shareholder Swiss Re said on Thursday. Swiss Re, the world’s second-largest reinsurance company, set …

Swiss Re’s UK Unit, ReAssure, Gets Ready for IPO in July

Swiss Re AG confirmed that its U.K.-based ReAssure Group Plc unit intends to undertake an initial public offering, giving the business firepower to expand its closed life and pension business. The company is expected to begin trading in London in …

Swiss Re Plans IPO of $4.5 Billion UK Subsidiary ReAssure

Swiss Re is pressing ahead with plans to float its $4.5 billion UK life insurance business in London to put it under a more favorable regulatory regime and give it easier access to capital to fund its expansion. ReAssure, Britain’s …