Large British life insurers would need to report their liquidity positions daily during market crises under new rules proposed on Wednesday by the Prudential Regulation Authority, after it identified information gaps during recent market turmoil. The global COVID-19 pandemic in …
Cinven is considering a sale of German life insurer Viridium after another of its insurance investments in Europe, Eurovita, was hit by heavy customer outflows earlier in the year, three people familiar with the matter told Reuters. The private equity …
Private equity firm Cinven has agreed to buy back 160 million euros ($170 million) of debt sold by its insurer Eurovita and is open to supporting other measures to avoid a messy liquidation of the Italian company, a person with …
Prosecutors in Milan are probing allegations of false accounting in relation to the crisis of Italian life insurer Eurovita, a person with knowledge of the matter said on Friday. Owned by Cinven, Eurovita this year became the first Italian insurer …
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% …
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 …
Australia’s largest wealth manager AMP Ltd said on Thursday it would sell its life insurance arm at a discount and revealed its funds were hemorrhaging cash as clients pulled out their money in response to revelations of systemic wrongdoing. Investors …
Insurer American International Group Inc. has agreed to an $11 million settlement with a group of states over its claims settlement practices for life insurance policies on Monday. AIG is the latest insurer to settle state probes relating to the …
Canadian insurers are looking at a bleak quarter of financial results due to a sharp drop in stock markets and bond yields, and analysts are staying cautious on the stocks even at rock-bottom valuations. Sun Life Financial , Canada’s No. …
The Federal Reserve’s latest move to stimulate credit for consumers and businesses, known as Operation Twist, is likely to threaten the earnings of some of the country’s largest insurers for years to come. Wall Street in the past week has …
