Direct Line Insurance Group reported a boost to its gross written premiums in its first set of quarterly results for 2016, thanks in part to continued growth in its Green Flag partnership. The insurer revealed that gross written premiums from ongoing operations had grown by 4.2 per cent to £777.8m in the three months to March 2016, […]

The Financial Conduct Authority (FCA) has highlighted concerns that people who sell their annuity on a secondary market will be unaware of the impact on any benefits they receive. Last month the FCA released a consultation paper which set out its regulation for the second-hand annuity market which is set to launch in April 2017. The paper […]

AXA plans to pull out of the life and savings market in the UK. New Model Adviser® first revealed the French insurance company was looking to sell investment platform Elevate, protection business SunLife and its Isle of Man offshore bond business in September 2015. As reported yesterday, Standard Life has agreed a deal to buy Elevate. Last […]

Standard Life has confirmed it will buy AXA Elevate. As New Model Adviser® reported yesterday, an announcement was published on stock listing website 4traders confirming the deal was set to go ahead. This morning an official update was published to the market which confirmed Standard Life will buy AXA Elevate by acquiring AXA Portfolio Services, the company which houses […]

Axa SA, France’s largest insurer, said first-quarter revenue gained 1 percent, helped by higher prices and volumes from property & casualty operations especially in Germany, the U.K. and faster-developing nations like Turkey. Sales rose to 31.8 billion euros ($36.6 billion) from 31.5 billion euros a year earlier, the Paris-based company said in a statement Tuesday. Revenue at […]

American International Group Inc., the insurer burned by losses on hedge funds, has submitted notices of redemption for $4.1 billion of those holdings through the end of the first quarter. “As of today, we have received $1.2 billion of proceeds from those redemptions,” Chief Financial Officer Sid Sankaran said Tuesday in a conference call discussing […]

Japanese insurers made more than $18 billion worth of acquisitions in the U.S. last year, and their spending spree isn’t over yet, industry dealmakers said Tuesday. Japan has a number of large, healthy insurers facing dim growth prospects at home, a panel of investment bankers said during a mergers and acquisitions conference in New York hosted […]

Peter Hancock, chief executive officer at American International Group, talks with Betty Liu about first-quarter results, plans to exit hedge funds as lock-ups expire, the company’s approach to the international insurance business, and dealing with the distraction of activist investors. He speaks on “Bloomberg Markets.”  Source: Bloomberg

Standard Life is set to buy AXA Elevate, according to a release published online. In the announcement, published earlier today on stock market listing site 4-traders, Standard Life said it would buy the entire share capital of AXA Portfolio Services, the company which contains AXA Elevate. The deal will add £9.8 billion of assets under administration to Standard Life’s platform. Following the […]

Manulife Financial Corp., Canada’s largest life insurer, will seek as much as $470 million in its second attempt at a Singapore initial public offering of its U.S. properties as it tries to entice investors with dividend yields higher than some of its peers. Manulife U.S. REIT, backed by three office buildings in Los Angeles and […]