Life insurance deals

IRS Updates Life Insurance Company Reserve Regulations, ThinkAdvisor

The Internal Revenue Service — an arm of the U.S. Treasury Department — has completed work on two documents that might, or might not, increase U.S. life insurance companies’ federal income taxes. One document is a set of final regulations, “Computation and Reporting of Reserves for Life Insurance Companies.” The IRS is in the process of putting the regulations into effect, by getting the regulations published in the Federal Register. The regulations affect what happens to life insurers’ income taxes when the insurers change the methods they use to account for the reserves supporting life insurance benefits obligations, annuity benefits obligations, and other obligations. The other document...

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Max Financial and Axis Bank agree to tweak insurance deal as regulator turns up heat, VCCircle

Max Financial Services and Axis Bank have agreed to make changes to the value-creation options in their proposed life insurance deal after the regulator asked them to do so. The lender, which already holds a small stake in Max Life, had said in a statement it will buy a 29% stake from Max Financial Services Ltd, the publicly listed holding company of the insurer. Max Financial Services had said Axis Bank and itself intend to create long-term value for all shareholders of Max Life by merging the insurer with the holding company. As part of the deal, both the entities had agreed to certain value-creation options should the merger not be completed by a pre-agreed timeline. The two had agreed...

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Managing Life Insurance Closed Blocks: A 2016 Update, Celent

Abstract Closed blocks (or books) are defined as policies that are no longer sold actively, but are accounted on the financial statements of a life carrier as premium-paying policies. The long-term run of life insurance makes it hard for insurers to see the immediate need for a long-term closed block strategy. A strategy of handling closed blocks internally to contain costs and manage the run-off makes sense for closed blocks that reside on the same policy administration systems to the open blocks. However, as insurers upgrade their policy administrations systems, implement digital strategies, and look to rationalize systems, the cost administering a diminishing closed block increases as...

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Best life insurance with free gift deals of 2019, Bobatoo

If you are looking for a life insurance policy and are not sure which insurance company to go with, you may want to consider what free gifts each one is offering along with their policies. From free laptops and tablets to gift vouchers and cashback, lots of life insurance companies are going all out to tempt you to buying your policy from them. If you’re in the market for life insurance and think a free gift might just tip the balance, then check out our updated* list of the top life insurance with free gift offers below. Best life insurance with free gift deals 2019 Quick Quote Life – Up to £200 Amazon voucher Quick Quote Life Limited is a life insurance broker that has been...

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Top 3 M A insurance deals in 2019

Top 3 M&A insurance deals in 2019 2019 saw a slew of mergers and acquisitions in the Canadian P&C space and it’s unlikely 2020 will buck the trend. In fact, in the past few weeks alone, one Ontario brokerage bought another one, a Florida-based brokerage bought a Canadian managing general agency, a large brokerage expanded its group employee benefits book through a merger, and an Illinois-based global brokerage acquired a Nova Scotia employee benefits firm. Here we have compiled some of the major transactions in the Canadian P&C industry this year. Intact acquires The Guarantee Company of North America and Frank Cowan Company At the beginning of this month, Intact Financial...

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New York Life Eyeing Cigna s Business That Sells Non-Medical Insurance Through Employers In Possible $6B Deal, Kaiser Health News

New York Life Eyeing Cigna’s Business That Sells Non-Medical Insurance Through Employers In Possible $6B Deal Cigna has been working to trim debt after last year’s acquisition of pharmacy-benefits manager Express Scripts Holding Co. for $54 billion. In other news from the health industry: a corporation misses the deadline to close the deal on four Verity Health hospitals and a look at the small Medicare reduction that could make a big difference in premiums. New York Life Insurance Co. is negotiating with Cigna Corp. to acquire a unit that sells nonmedical insurance products to employers, a deal that could be valued at as much as $6 billion, according to people familiar with the...

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FWD buys Thai insurance unit for $3 billion, in top SE Asian sector deal - Reuters

BANGKOK (Reuters) - FWD Group is acquiring the life insurance business of Thailand’s Siam Commercial Bank (SCB) ( SCB.BK ) for 92.7 billion baht ($3 billion) in Southeast Asia’s biggest insurance M&A deal, broadening a rapid Asian expansion by the Hong Kong-based firm. Southeast Asia has emerged as a battleground for foreign insurers who are attracted by the region’s lower insurance penetration levels and faster growth rates for life insurance premiums than in their home markets. FWD and SCB, Thailand’s biggest lender by assets, said in a joint statement on Monday that the deal by FWD to acquire SCB’s entire stake in SCB Life Assurance Public Co Ltd is expected...

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Deals Buzz: Warburg, Premji to buy $432 million SBI insurance arm stake

Amid a funding squeeze, NHAI seeks bids for fourth bundle of road assets. (Photo: HT) Deals Buzz: Warburg, Premji to buy $432 million SBI insurance arm stake 6 min read . Updated: 18 Oct 2019, 10:32 AM IST Ridhima Saxena In other news, Attracted by India’s green energy trajectory, LGT Lightstone Aspada plans to invest up to $50 million in Canadian firm AMP Solar Group’s India unit Warburg, Premji to buy $432 million SBI insurance arm stake Insurance Australia Group Ltd (IAG) is looking to sell its entire 26% stake in SBI General Insurance (SBIG) to Warburg Pincus and Premji Invest for $432.38 million, Mint reported. While Premji Invest has agreed to acquire 16% in the general insurer,...

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LIC-IDBI deal ends need for IDBI Federal Life stake sale

The takeover may see Life Insurance Corporation of India (LIC) infusing ₹ 13,000 crore in IDBI Bank. Photo: Pradeep Gaur/Mint LIC-IDBI deal ends need for IDBI Federal Life stake sale 2 min read . Updated: 03 Aug 2018, 09:49 AM IST Deepti Bhaskaran IDBI Federal Life Insurance was up for sale because IDBI Bank needed the capital, and nowafter the acquisition by LICit doesn't IDBI Bank, which was trying to raise capital through the sale of its non-core assets, had planned to sell its entire 48% stake in the joint venture for about ₹ 3,000 crore. Federal Bank and Belgian insurer Ageas hold a 26% stake each in IDBI Federal Life, which was last valued at about ₹ 6,000 crore: more than...

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Buying Term Life Insurance in Your 40s, Haven Life

For many people, your 40s are a time where you re-confirm many financial decisions made to date in your life. Are you on pace for a comfortable retirement? Is it time to refinance your mortgage for a better interest rate? Have you saved enough to take some of those dream vacations? Another financial item to revisit? Your life insurance needs. For some, your 40s could be the first time you’ve ever needed life insurance. Maybe you had your first child later in life, or you’ve even taken out a loan to start a new business. For many others, you may find that the life insurance coverage purchased in your 20s or 30s isn’t enough to financially protect a family that has grown significantly,...

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