Aviva, Legal & General Shares tumble in London trading Pension deficit widens to $1.2 trillion as bond yields drop Sarah Jones British insurers have been left reeling after the country’s surprise decision to exit the European Union jeopardized the value of at least $2.6 trillion of their investments. Aviva Plc […]
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A.M. Best: Rating Actions Not Anticipated in Near Term Following UK’s Vote to Leave the EU
A.M. Best does not expect to take rating actions in the near term as a direct consequence of the decision by United Kingdom (UK) voters to leave the European Union (EU). In a referendum held on 23 June 2016, 51.9% voted to relinquish EU membership. The implications for the […]
Lloyd’s will stay ‘at centre’ of global insurance market despite Brexit
Lloyd’s chairman says market ‘fully equipped’ to operate in the new environment LLOYD’S chairman John Nelson has moved to allay fears about the impact of the UK’s vote to leave the EU on the Lloyd’s market. Mr Nelson said: “Lloyd’s has a well prepared contingency plan in place and Lloyd’s […]
Insurance sector hit hard by Brexit vote
Oliver Ralph, Insurance Correspondent Shares across the insurance sector fell heavily in the wake of Britain voting to leave the EU, with many in the industry concerned about the impact of the referendum result on Lloyd’s, London’s insurance market. One of the big attractions to insurers of operating via Lloyd’s […]
MOVES-AXA IM appoints UK head of insurance solutions
AXA Investment Managers, the asset management unit of AXA SA, appointed Chris Price UK head of insurance solutions. Price joins from Deutsche Bank, where he was director of insurance asset management and head of industry solutions in the UK. He will be based in London and report to Mathilde Sauvé, […]
FNB Life wins award
Within the first year of operating, FNB Life was recognised as one of most innovative insurance players globally at the inaugural Efma and Accenture Innovation in Insurance Awards 2016, recently held in Milan. The insurance administrator was the only South African insurance business to be acknowledged at the awards. The […]
Tanzania Taps Informal Sector to Boost Nation’s Pensions
Targets growth of 15% from last year’s 2.27 billion shillings Nation may allow funds to invest around East African bloc Tanzania’s pension regulator is looking to the nation’s vast informal sector for growth by introducing flexible products that can fit the irregular nature of income for people such as farmers. […]
FirstBanC increases market share in the Pensions Industry
FirstBanC Financial Services Limited (FirstBanC) recorded strong growth in pension fund management with the size of the company’s managed pension funds growing significantly by more than 100 per cent in 2015. According to the 2015 Pension Fund Managers rankings published by the National Pensions Regulatory Authority (NPRA), FirstBanC placed second […]
Heritage insurance suspended by Zim regulator
Zimbabwe’s insurance regulator has suspended short-term insurance firm, Heritage, from issuing or renewing policies due to poor financial position. The Insurance and Pension Commission said it will provide the market with updates on the companies under suspension as and when any notable developments are reported. Heritage joins the likes of […]
