Market turmoil around the world took its toll on pension assets last year, according to a new study by Willis Towers Watson Plc, the London advisory firm. Specifically, pension assets relative to gross domestic product declined 3.9 percentage points in 2015 to 80.3% from 84.2% the year before. Pension assets […]
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How Chinese Used Insurance to Dodge Currency Controls
Hong Kong’s haven turns polices into actual insurance for cash Chinese have bought record amounts of insurance in Hong Kong Before the Chinese regulator stepped in this week with measures against the insurance industry aimed at curbing the country’s $1 trillion worth of capital outflows in 2015, hundreds of thousands […]
CIIN joins bill review committee, as ARIAN, Irukwu were not considered
Leave a comment Chuks Udo Okonta Finally, invitation has been extended to the Chartered Insurance Institute of Nigeria (CIIN) to partake in the review of the Insurance (consolidated) bill which committee would be inaugurated from 2:00 PM today in Abuja. Inspen gathered that whilst the CIIN was re-considered, having been […]
Canadian pension funds hit hard by global market volatility
Janet McFarland Canadian pension plans took a major hit in January from turmoil in global markets, suffering a drop in their funding solvency as bond yields fell and their investment portfolios posted losses. Pension consulting firm Aon Hewitt said the median solvency ratio for pension funds it tracks fell by […]
Pension savers flee for the safety of annuities as stock market tumbles
By Harvey Jones Annuity sales collapsed after pension freedoms were launched in April last year as hundreds of thousands celebrated their liberation from the obligation to lock into a lifetime income at retirement. Many either cashed in their lifetime savings or took an income drawdown plan, leaving their pension invested […]
NIC urges mergers in insurance industry: As LeapFrog Investments acquires UT Life
Officials of UT Life and LeapFrog Investments after the ceremony The National Insurance Commission (NIC) is pushing for mergers in the insurance industry in a bid to make companies in the sector more efficient. The commission, which is the regulator of the industry, argued that presently many players in the […]
Operators now wary of NAICOM’s rod
Leave a comment Chuks Udo Okonta The National Insurance Commission (NAICOM) fight against unethical practices among insurance operators seems to be yielding results as some firms have resolved to hold their errant employees responsible for fees on infractions. Investigations revealed that some firms in a bid to forestall penalties from […]
U.S. Pension Fund Assets Remain Stable
U.S. institutional pension fund assets totaled $21.7 trillion at the end of 2015, slightly less than the previous year’s record of $22.1 trillion, according to Willis Towers Watson’s (NASDAQ:WLTW) Global Pension Assets Study. Global institutional pension fund assets in 19 major markets weighed in at $35.4 trillion at year-end 2015. […]
Expert canvasses merger for brokers with lapsed licences
Leave a comment Chuks Udo Okonta Embattled insurance brokers whose licences were recently lapsed, have been enjoined to urgently embrace merger to enable them take advantage of the opportunities provided by the National Insurance Commission (NAICOM). An insurance analyst, who is also a lawyer said this in an interview with […]
NAICOM gives soft landing to brokers with lapsed licences
Kari The National Insurance Commission has given consideration to brokers whose licences have expired to enable them to re-register with their old names, an official has said. The Commissioner for Insurance, NAICOM, Mohammed Kari, told the News Agency of Nigeria in Abuja on Monday that the action would enable the […]
