Life Office
Zurich tables £5.6bn bid for rival RSA Group
Insurance giant Zurich has revived its attempt to acquire rival business RSA with a new proposed cash offer of 550p per share, valuing the company at about £5.6bn.
Zurich puts 90 jobs at risk across UK life operation
Zurich plans to make 90 redundancies from its UK life business as part of cost cutting measures in light of the challenging economic environment.
Things clients say #4
ODD CASE
Five things your clients will call you about this week
It's our round-up of the stories your clients may have read in the national newspapers over the weekend...
Aviva swings axe on hundreds of employees
Aviva has said 384 jobs in its Bristol office are at risk due to a simplification of its life business.
This week's news... condensed
Ten of this week's best-read stories...
Pensioner who posed as wife to cheat life co imprisoned
A pensioner who faked his own death and posed as his wife to fraudulently claim on his life insurance has been jailed for six years.
Fitch warns life cos: Don't rely on IFAs
Ratings agency Fitch has warned that life companies which rely on independent financial advisers (IFA) to distribute their products could be negatively affected by the retail distribution review (RDR), and predicted a bright future for bancassurance....
L&G chief executive Breedon to retire
Tim Breedon, CEO of Legal & General (L&G), is to retire from the company at the end of 2012, when he will have completed a quarter of a century at the insurer.
The ten most common underwriting queries (and answers)
Not only will the needs of each and every client who needs a protection policy differ, but advisers also have to factor in the different underwriting processes of providers...
Call for overhaul of mortality projection models
Mortality projection models are in need of a radical overhaul to ease insurers' funding problems and give them confidence when pricing future retirement income solutions, an influential new report argues.
Friends Life creates 'heritage' unit for closed business
(Updated) Friends Life is to separate its open and closed books of business as part of parent company Resolution's UK Life project.
Aegon offloads UK life and pensions outfit Guardian
Aegon today confirmed the sale of its UK-based life and pensions business Guardian to European private equity group Cinven, for a total cash consideration of £275m.
Royal London new business up 11% but protection sales fall
Royal London group received a boost from Scottish Life and 360° during the first half of 2011 but its protection arm suffered a 17% sales slump.
Ex-AIA chief eyes Aviva divisions
Mark Wilson, former chief executive of Asian life assurer AIA, is trying to raise private equity backing to bid for the non-core emerging markets businesses of Aviva, according to reports.
Resolution to return £500m 'excess cash' to shareholders
Buyout vehicle Resolution expects to have £500m of excess cash to return to shareholders over the next 12 months after completing its work examining the cash and capital position of Friends Life, its new proposition formed from the merger of Friends Provident...
Aviva's UK Life CEO Strauss leaves for Lloyds
David Barral has been appointed chief executive of Aviva's UK Life business, replacing Toby Strauss as he leaves to join Lloyds Bank.
Co-op seeks buyer for £18bn life insurance business
The Co-op may sell its £18bn life insurance business in a re-organisation instigated by new CEO Neville Richardson.
LLMA proposes longevity index
The Life & Longevity Markets Association ("LLMA") is proposing a standardised framework for longevity indices.
Pru UK chief to lead Asia integration
Prudential's chief executive of UK and Europe Rob Devey has been appointed to lead the group's planned integration of its Asian business with the AIA Group.
Profits down at Groupama Insurances
Groupama Insurances' combined profitability for the UK operations (before tax and amortisation) reduced to £14.1 million (2008: £30.1 million).
Hartford Life admits to annuities tax coding errors
An IFA firm has issued a formal complaint to US life insurance giant The Hartford over the incorrect tax treatment of clients who have annuities with its UK subsidiary Hartford Life.
Aegon UK unveils Duncan Jarrett as sales director
Aegon UK today named Duncan Jarrett as sales director, replacing retiree David Rogers.
Recovery on cards: Swiss Re
Swiss Re says the insurance and reinsurance sectors will continue their "U-shaped" recoveries in 2010, alongside the major global economies.
