You are here HOMEGROWN insurer Singapore Life (Singlife) intends to merge with Aviva Singapore in a deal valued at S$3.2 billion, which will make it one of the largest in the South-east Asian insurance sector and the largest in Singapore. In a statement issued on Friday night, Singlife said the deal will bring its mobile savings and protection solutions to Aviva's 1.5 million strong customer base, and offer existing Singlife customers a deeper product range and advisory capabilities. The transaction is subject to closing conditions, including regulatory approval, and is expected to complete by January 2021. The merger of the Singlife and Aviva Singapore legal entities is targeted to take...
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Zurich makes key leadership appointments, launches digital unit Zurich Insurance Group has announced a series of key leadership appointments and new Executive Committee members, while also launching a new unit to expand its digital services worldwide. The Global Business Platforms unit will be headed by current APAC CEO Jack Howell as of January 1, 2021. Ericson Chan will spearhead the development and operation of the technology functions and online ecosystems as the newly appointed Group Chief Information and Digital Officer. He is currently CEO of Ping An Technology. Chan has spent the last four years as CEO of Ping An Technology, where he helped to transform online ecosystems through...
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Zurich Insurance Group has announced it is ramping up the transformation of its global business to meet the rapidly changing needs of consumers. The Swiss global insurer has also announced a series of changes to its senior leadership team. Zurich said it is launching a new unit to "expand digital services worldwide and create a more intimate connection with its customers and partners." The Global Business Platforms unit is to be headed by current APAC CEO Jack Howell as of 1 January 2021. Over the last four years, Howell has expanded and transformed the business in APAC and advanced group innovation by focusing on customer needs. He has demonstrated vision and the ability to translate this...
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Zurich has paid out over £4.5m in protection claims related to COVID-19, the life office has revealed. The figure is part of a package of numbers reported this week by Zurich which show it paid a total of £154.2m in life insurance claims during the first half of 2020. However, the insurer said that it declined 14% of critical illness (CI) claims, with 7% declined for misrepresentation, where, for example, the customer had failed to disclose previous medical history or lifestyle factors. The CI claims paid figure of 86% is below the market average of 91.6% (for both individual and group CI) reported in May this year by the Association of British Insurers. However, a spokesman for Zurich said...
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As a subscriber, you are shown 80% less display advertising when reading our articles. Those ads you do see are predominantly from local businesses promoting local services. These adverts enable local businesses to get in front of their target audience – the local community. It is important that we continue to promote these adverts as our local businesses need as much support as possible during these challenging times. Zurich to pay £15m in Covid-19 claims INSURANCE giant Zurich expects to pay more than £15million in claims related to Covid-19. The company, which employs more than 600 people at Whiteley, paid out £154.2million on 3,200 life, critical illness and income...
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By John Revill and Carolyn Cohn ZURICH/LONDON (Reuters) - Zurich Insurance's <ZURN.S> life insurance and property and casualty businesses have taken a hit from the COVID-19 pandemic, but rising commercial insurance rates will provide support, its CFO said on Thursday as the company reported a 40% profit drop. Insurers have been hit across the board by pandemic-related claims including for travel, business interruption and event cancellation, in addition to life insurance. "It's been a relatively extraordinary six months," Chief financial officer George Quinn said. "The challenge is not over." Europe's fifth-largest insurer said it expected COVID-19 related insurance claims at its...
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Trans Mountain Loses Zurich; Beleaguered Pipeline’s Lead Insurer Will Not Renew Policy Campaigners pledge to ramp up pressure on Chubb and Liberty Mutual to follow suit JULY 22, 2020 – Reuters reported that Swiss insurance giant Zurich will stop providing coverage for the controversial Trans Mountain pipeline when its policy expires on August 31. Zurich is currently Trans Mountain’s primary excess liability insurer, putting it on the hook for the first $8 million in insurance payouts for the existing pipeline. Trans Mountain is now forced to search for a new primary insurer. The existing 70-year old Trans Mountain pipeline is a major environmental and public health hazard, with a long...
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Latest added Global Universal Life Insurance Market research study by HTF MI offers detailed product outlook and elaborates market review till 2025. The market Study is segmented by key regions that is accelerating the marketization. At present, the market is sharping its presence and some of the key players in the study are Allianz, AXA, Generali, Ping An Insurance, China Life Insurance, Prudential PLC, Munich Re, Zurich Insurance, Nippon Life Insurance, Japan Post Holdings, Berkshire Hathaway, Metlife, Manulife Financial, CPIC, Chubb, AIG, Aviva, Allstate, Swiss RE, Prudential Financial, Travelers, AIA, Aflac & Legal & General etc. The study is a perfect mix of qualitative and...
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This B2B2C Insurance Market report includes worldwide topmost prime manufactures like ( AXA, Zurich Insurance Group, China Life Insurance, Berkshire Hathaway, Prudential, UnitedHealth Group, Munich Re Group, Assicurazioni Generali S.p.A., Japan Post Holding, Allianz ) in terms of company basic information, Product Category, Sales (Volume), Revenue (Million USD), Price, Gross Margin (%), Price, Cost, Growth Rate, Import, Export, Market Share and Technological Developments. B2B2C Insurance Market report provide the COVID19 Outbreak Impact analysis of key factors influencing the growth of the B2B2C Insurance market Size (Production, Value and Consumption). In the end, the B2B2C Insurance...
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The Critical Illness Insurance market growth prospects have been showing good great promise all over the world with immense growth potential in terms of revenue generation and this growth of the Critical Illness Insurance market is expected to be huge by growth of the market is driven by key factors such as manufacturing activity in accordance with the current market situation and demand that seems to be seeing a major upward trend in some time, risks of the market, acquisitions, new trends, assessment of the new technologies and their implementation. Top Companies covering This Report:- Ping An Insurance, Aviva, Legal & General, China Pacific Insurance, Prudential plc, New China Life...
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