Manulife Financial Corp. is tapping the Asian capital markets for the first time as it seeks to broaden its funding sources and investor base. Canada’s largest life insurer issued S$500 million ($365 million) of subordinated debt in Singapore with a 3.85 percent coupon due in 2026, the company said in a statement. The notes have […]

American International Group (AIG) has entered talks with a number of legacy companies about the disposal of a $5bn back-year P&C book as signs grow of a turning tide on its divestiture strategy. Sources told this publication that AIG has provided high-level information and initiated sales talks with the handful of legacy companies large enough […]

Ratings agency Fitch has warned a Brexit could have major ramifications for European sovereigns. The ratings agency has suggested a number of countries could face downgrades if the UK decides to quit Europe at the referendum on 23 June. ‘We would not expect to take any immediate negative rating actions on other EU sovereigns if […]

U.S. property and casualty insurance company Hanover Insurance Group Inc has hired former health insurer Aetna Inc chief financial officer Joseph Zubretsky as its new chief executive officer, people familiar with the matter said. Zubretsky’s appointment comes as the Worcester, Massachusetts-based company has been raising prices to maintain its profitability in the face of lower investment returns […]

  Big data analysis has revolutionised many areas of modern life — from healthcare, to politics, to sport — yet not so far the property insurance market. That looks set to change. “The insurance industry has been a little of a hold out,” says Lori Sherer, head of the advanced analytics practice at management consultancy […]

Bank of England governor Mark Carney sparked an intense political row yesterday after he said that a vote to leave the European Union could plunge Britain into recession. Former chancellor Lord Lamont slammed Carney’s “unwise” choice of words, while two Conservative members of the influential Treasury Select Committee – which is appointed by Parliament to examine the […]

The UK’s potential exit from the European Union (Brexit) would have only a modest negative credit impact on global rated insurers with sizable operations in the UK, Moody’s Investors Service said in a report today. The report, “Global Insurance: Brexit Poses Modest Credit Challenges; Ratings Impact Likely to be Limited”, is available on www.moodys.com. Moody’s […]

Aegon UK’s platform assets have reached £7.4 billion, around double the level reached this time last year. However, the the Aegon UK chief executive has warned that the new lifetime ISA risks derailing pension saving progress. Total platform assets were £7.4 billion, up from the £3.8 billion reached in the first quarter of 2015 and up from the £6.4 billion reached in the […]

Royal London has seen a leap in new pensions business for its first quarter of 2016, but has warned that its group pensions division will see a ‘slowing of momentum in coming quarters’. For the three months ending 31 March 2016, Royal London’s group pensions new business was £959 million, up 86% from the same […]

Pension Insurance Corp. agreed to insure 900 million pounds ($1.3 billion) of Aon Plc’s Retirement Plan in the U.K. as the world’s second-largest insurance broker seeks to reduce risk. The agreement with Aon covers the majority of the pension fund’s liabilities, PIC said in a statement. Known as a buy-in, it’s the third such deal […]