Prudential Insurance Company of America (PICA) and Bank Simpanan Nasional (BSN) have agreed to acquire 100% of Uni.Asia Life Assurance’s (UAL) issued and paid-up ordinary share capital, to boost their insurance operation in Malaysia. ...
Tags: Life Assurance
US-based life insurer MetLife has reported operating earnings of $1.6bn, or $1.44 per share, for the second quarter of 2013, with an increase of 11% and 7%, compared to $1.43bn, or $1.34 per share, respectively during the same period last ...
Tags: Metlife, life insurer
Switzerland-based Zurich Insurance Group is said to have a plan to buy into Chinese property insurance firm Sinosafe General Insurance Co., Ltd. Sources said recently that the Swiss insurance group was looking for a stake in a Chinese ...
Smart process applications provider Kofax has said that a major life insurance carrier based in the US has expanded the usage of its systems to improve the pace of claims processing. The carrier has invested an additional $550,000 to ...
Tags: Life Insurer, Kofax Systems
New York-based insurer MetLife has eliminated the jobs of 2,500 advisers, representing a third of total, in a bid to save operational cost and make the company more productive. Other reasons of the job cuts as dictated by the company ...
Netherlands-based financial conglomerate ING has received offers for its South Korean life insurance business from a Korean life insurer and two Seoul-based private-equity firms. The three bidders include Kyobo Life Insurance Co and ...
Tags: ING, Bids, Insurer Business
The planned sale of stake in Future Generali India Life Insurance Company to Industrial Investment Trust Ltd (IITL) has received approval from fair trade regulator Competition Commission of India (CCI). The approval was granted after a ...
Tags: Service
Munich-based insurer Allianz has inked an agreement to acquire Turkish property and casualty underwriter Yap Kredi Sigorta including its life and pension subsidiary Yap Kredi Emeklilik, in a deal valued at TRY1.6bn (€684m). ...
Allianz Life Luxembourg has selected Solfia’s Software as a Service (SaaS) platform as its new middle-office platform, with a strategy to manage the internal funds of its life insurance contracts. The life insurer is planning to go ...
Life and health insurer Industrial Alliance Insurance and Financial Services has launched a new iPhone application for its group insurance customers. Dubbed IA Mobile, the newly introduced application is designed to let iPhone users to ...
Tags: Life insurer, health insurer, Insurance
Life insurer MetLife is planning to refund nearly $190m to American International Group (AIG) following a victory by one of its units in legal proceedings filed in a Tokyo court. The American Life Insurance Co (Alico), which won the ...
Tags: MetLife, Life insurer, AIG
US life insurer MetLife is likely in the process of selling its UK bulk annuities business, MetLife Assurance Limited, in a deal which might be valued around pound 1bn, in a bid to consolidate its operations. The sale is part of the ...
US-based life insurer MetLife has inked a definitive agreement to purchase BBVA’s private pension fund administrator in Chile, AFP Provida (Provida), in a deal valued at almost $2bn. Based on the terms of the deal, the acquirer will ...
Tags: life insurer, underwriter, pension industry
Canada-based Sun Life Financial and Malaysian investor Khazanah Nasional are planning to acquire life insurer CIMB Aviva in Malaysia, in a deal valued at MYR1.8bn ($596m). Both firms will jointly purchase 98% of the life insurer in order ...
Tags: life insurer, CIMB Aviva, financial services markets, insurance company
Swiss life insurer has selected Pegasystems's software solution to help automate its commercial underwriting process in Switzerland. Automation of commercial underwriting process that comprises both broker and agent channel, several ...