The financial services company is worried the recent rule change has created confusion (Source: Getty) One financial services company has today called on government to make the provision of guidance to those reaching retirement compulsory. Revealing how it had responded to a Treasury consultation, LV warned that the introduction of the pension freedoms rules had […]

Drones present an excellent opportunity for the insurance industry to develop new offerings (Source: Getty) The popularity of drones could drive growth in some sectors of the insurance industry, one City law firm has said today. According to RPC, the new technology is increasing the demand for specialist drone insurance, which providers operators with cover […]

Technology has got insurers shaking in their boots, as research out today shows many are worried technology-focused startups will snatch their business out from under them. The report by professional services firm PwC discovered that almost half (48 per cent) of insurers are concerned that as much as a fifth of their business could be […]

There may have been a lot of claims but one in five still head off on their hols uninsured (Source: Getty) Those who are still shuddering at the cost of their most recent getaway should spare a thought for the insurance industry. Research out today has found that insurers shell out £1m every day on claims […]

Switzerland’s biggest insurer, Zurich Insurance, has unveiled a shareholder-friendly shift to a simpler management structure under new chief Mario Greco. That’s a positive step. Too bad it’s into a brewing storm. There’s certainly a lot to like about Zurich’s decision to retreat from the tangled matrix of dual geography and business reporting lines. The focus is now on a […]

Zurich will axe its UK life chief executive role as part of a leadership restructure across its businesses around the world. Following the restructure Zurich will have one chief executive who will be in charge of both its life and general insurance businesses in the UK. Zurich will announce who will hold the role in […]

Zurich Insurance AG’s new chief executive officer, Mario Greco, is shaking up the largest Swiss insurer after an unexpected jump in claims last year forced it to abandon a takeover and prompted his predecessor’s exit. Zurich is merging its biggest units, global life and general insurance, and reorganizing along geographical lines. The four regional heads […]

The UK equity release market will grow over the coming years because more and more people will have to borrow to retire in the future, according to Just Retirement. Equity release sales have grown since the introduction of pension freedoms last April. Before it merged with Partnership to form JRP Group, Just Retirement recorded equity release […]

Apple Inc. sold $1.38 billion of dollar bonds in Taiwan while Canada’s Manulife Financial Corp. also priced $1 billion of securities, as such debt offerings in the jurisdiction jump amid demand from insurers. The sales bring issuance of such corporate securities to $23 billion for the year, up 53 percent from the same period in 2015, data […]

American International Group (AIG) is facing a EUR50mn ($72mn) net loss from a record EUR360mn transactional liability claim, The Insurance Insider has learned. Sources told this publication AIG has 100 percent of the primary layer of the placement, equivalent to EUR30mn of the loss, which was written in 2013 by the company’s German operation. The carrier is […]