Life insurance

Insurer Zurich has made close to $1bn from the sale of its stake in Chinese insurer New China Life (NCI).

Non-domiciled holders of whole-of life policies may no longer qualify for an exemption of inheritance tax under new HMRC rules, sparking the need for revised estate planning to avoid unexpected tax bills, Skandia has warned.

FIVE THINGS

Life insurer Zurich UK has paid out a total of £34.5m in critical illness claims in the first half of this year, totalling 94% of claims.

Insurance products that are marketed and sold through advisers need to undergo radical reform to ensure providers stay competitive in a post commission world, the CEO Aegon has warned.

LV= has launched a life cover product that allows employers to set it up on behalf of employees or company directors in a tax-efficient manner.

Life insurers in Western Europe are set to continue to suffer from shrinking markets and low profitability, while globally markets recover, according to global reinsurer Swiss Re.

Tributes are continuing to flood in for Len Warwick CBE, a former president of the Life Insurance Association (LIA), who died on Sunday.

LV= will switch its protection business to gender neutral rates on 1 December and has announced its pipeline strategy for advisers.

The Association of British Insurers (ABI) has proposed an equivalent to the fruit and vegetable ‘five a day' campaign to promote good financial habits.