life insurers News

Australia’s AMP to Sell Life Insurance Arm at Discount, as Funds Bleed Cash

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 …

AIG to Pay $11M Multi-State Settlement Over Life Policies

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 …

Weak Markets to Hobble Canadian Insurer Results

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. …

How Federal Reserve’s Move Hurts Life Insurers

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 …

Best May Cut Ratings Outlook on Life Insurers

Ratings agency A.M. Best may lower its outlook on the U.S. life insurance and annuity sector to “negative” from “stable,” it warned Tuesday, as American and European sovereign debt concerns continue to grow. Life insurers, with long-duration liabilities and a …

Changes on the Playing Field; P&C Insurers Question Impact of New Regulations

The European insurance industry is becoming increasingly aware that the Solvency II regulations, which are scheduled to take effect as of January 1, 2013, will not only impose a different set of rules for the industry, but could also fundamentally …