Platform Alliance Trust Savings (ATS) has hired former Friends Life chief financial officer Tim Tookey as its chairman. Last October ATS announced plans to appoint a chairman as part of a restructure within parent company Alliance Trust. The investment trust split its businesses into two separate entities, Alliance Trust Investments and ATS. Each division has its own independent […]

  AIA Group and Britain’s Prudential PLC are among insurers considering bids to buy at least 49 percent of the $3 billion (2.04 billion pounds) insurance unit of Thai lender Siam Commercial Bank (SCB), people with direct knowledge of the matter said. A successful stake sale in SCB Life Assurance Public Company Limited would make it […]

Pension professionals are divided between those wanting radical product innovation and others who repeat the long-held mantra that the industry needs stability. The pension minister, a former director of the Fidelity Retirement Institute and a senior consultant at a workplace pension firm with a mission statement to “transform the quality of our industry”, are all […]

London-listed insurer RSA has informed its reinsurers that it expects to incur C$350mn-C$450mn ($270mn-$347mn) of claims from the Fort McMurray wildfires, The Insurance Insider can reveal. The confidential loss advisory takes total known cedant loss notifications towards C$3.3bn at the upper end of ranges. RSA’s reinsurance cover is understood to attach at C$75mn, with C$175mn of Canada-specific […]

Defining corporate culture is still an issue at many companies, new research has revealed. Nearly one in three (31 per cent) of boards across the public and private sectors have not established or articulated what sort of corporate culture they want, according to the Chartered Institute of Internal Auditors. It was also found that even […]

Martin Senn, the Zurich Insurance Group AG chief executive officer who stepped down in a December reshuffle, has committed suicide, the company said in a statement on Monday. He was 59. The family informed Zurich Insurance that Senn had taken his own life on Friday, according to the statement. “We are profoundly shocked by the […]

Phoenix Group Holdings has completed its first deal since Chief Executive Officer Clive Bannister was drafted in five years ago to turn around the insurer, buying assets from France’s Axa SA. The company is purchasing Axa’s U.K. pensions and SunLife protection businesses for 375 million pounds ($549.6 million), funded through a 22.5 million-share placement and […]

Advisers can expect some more innovation from insurer Vitality Health this year, the chief executive has pledged. Speaking to Emma Ann Hughes, editor of FTAdviser and Financial Adviser, Neville Koopowitz said it has been 16 months since the company rebranded from Pru Health. “This has given us the opportunity to relaunch an exciting insurance brand, […]

AXA has sold AXA Wealth along with its Sun Life business to Phoenix Group Holdings. Along with the deal announced earlier this month to sell its Elevate platform to Standard Life and its agreement in April to sell its Isle of Man offshore investment company to the Life Company Consolidation Group, today’s deal completes the sale […]

Buberl is shaking things up ahead of his arrival in September (Source: Getty) Axa has revealed a major shake up of its senior team – including a new chief executive of its UK business – ahead of the arrival of incoming boss Thomas Buberl later this year. From 1 July the group will boast a […]