The after-tax adjusted operating income of Prudential Financial was $742m for the reported quarter compared to $1.26bn reported for the second quarter of 2019 Prudential Financial headquarters in Newark, New Jersey. (Credit: Derek Jensen (Tysto)/Wikimedia Commons) Prudential Financial has reported a net loss of $2.4bn or $6.12 per share for the second quarter of 2020 (Q2 2020), compared to $798m net income or $1.71 per share, made in the same quarter in 2019. In the previous quarter, that is Q1 2020, the US insurance company had a net loss of $271m or $0.70 per share. The insurer’s after-tax adjusted operating income was $742m for the reported quarter compared to $1.26bn reported for...
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UK-based insurtech Honcho partnering with Personal Group’s Hapi is set to disrupt the way that employers offer employee benefits. The partnership will provide Hapi’s 475,000 users with access to Honcho’s motor insurance service, enabling users to choose insurance providers in a convenient way. Many organisations invest a significant amount of resources into designing and implementing benefits packages to attract and retain top talent, as well as increasing productivity within the organisation. According to GlobalData’s 2019 UK SME Insurance Survey, 37.2% of SMEs arranged employee benefits through the online channel, making it the most common method to do so. Hapi is a digital platform that...
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Earlier this week on Tuesday, IRDA allowed life insurance companies to issue electronic or e-policies to the customers on their e-mail IDs during FY2020-21. (Pradeep Gaur/Mint) Life insurance: Physical signatures not required to buy a new policy 2 min read . Updated: 06 Aug 2020, 06:46 AM IST Avneet Kaur Insurer can send the completed proposal form to the customer's registered e-mail ID or mobile number in the form of an e-mail or a message with a link The customer can then give his consent by clicking the confirmation link or by validating the OTP shared Earlier this week on Tuesday, IRDA allowed life insurance companies to issue electronic or e-policies to the customers on their e-mail...
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SA’s largest business insurance companies promise over R1bn in relief payments © Copyright (c) Daily Maverick, All Rights Reserved South Africa’s largest business i nsurance companies including Santam and Hollard have agreed to provide interim relief to clients with business interruption insurance that includes cover for contagious diseases. This brings hope to the thousands of restaurant and hotel owners who face financial ruin following the lockdown of their industry as a result of the Covid-19 pandemic. “This is good news. The insurance companies have turned around and realised that we are partners,” says Dumasi Mfugale, owner of The Foundry Restaurant and Bar in Parktown North. “...
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Erin Ardleigh (Credit: Dynama) Erin Ardleigh is helping her insurance clients replace the brick-and-mortar infrastructure that was with something virtual. Today, she’s providing about 100% of her services through the web, or through the telephone. “We find that clients are perfectly happy with that,” Ardleigh said in a recent interview. Ardleigh is the president of Dynama Insurance, a life and health agency with offices near the corner of 57th Street and Madison Avenue in New York City. New York City and COVID-19 New York City and New Yorkers have used rigorous social distancing measures to get the city’s COVID-19 outbreak well under control. On Saturday, only 229 people, or about 1% of the...
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Parties have agreed to interim relief for the restaurant and hospitality industry that will be a once-off payment to policyholders, and will not have to be paid back by claimants, regardless of the outcome of legal processes that are currently under way. (Photo: Nadine Hutton / Bloomberg via Getty Images) Whether pushed, cajoled or of their own volition, South Africa’s big insurers have come to the table on the subject of business interruption insurance for the restaurant and hospitality industry. South Africa’s largest business i nsurance companies including Santam and Hollard have agreed to provide interim relief to clients with business interruption insurance that includes cover for...
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As school districts and college campuses get ready for the school year, and as COVID-19 cases rise across the U.S., anxious educators have a message for administrators and lawmakers: We want to teach our students, but we don’t want to die doing it. “I want to be in my class, teaching them and getting to know them. But, for me, it’s far more important for everybody to be safe, and I don’t think they can guarantee that,” says Shaela Rieker, a fourth-grade Washington teacher. In anticipation of returning to school this fall, Rieker, the sole income-provider in her family, recently updated her will and increased her life-insurance coverage, saying, “it would be irresponsible of me not to.” Many...
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The Whole Life Insurance Market Perspective, Comprehensive Analysis along with Major Segments and Forecast, 2019-2025. The Whole Life Insurance market report is a valuable source of data for business strategists. It provides the industry overview with market growth analysis with a historical & futuristic perspective for the following parameters; cost, revenue, demands, and supply data (as applicable). The report explores the current outlook in global and key regions from the perspective of players, countries, product types, and end industries. This Whole Life Insurance Market study provides comprehensive data that enhances the understanding, scope, and application of this report. Top...
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Insurance lawyers will get frequent phone calls from a life insurance beneficiary wherein the beneficiary had a spouse who has died and that spouse had life insurance that had been obtained through their employer/work. This was the case in a recent opinion from the Western District of Texas, El Paso Division. The style of the case is Vanessa St. Pierre v. Dearborn National Life Insurance Company. The facts of this case a somewhat confusing the opinion needs to be read to get what the exact facts were in this case. However, the law related to insurance coverage when it is purchased through employment is discussed and knowing about this law is important when it comes to being able to...
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COVER will, over a number of episodes, be chatting about certain aspects of Life Insurance as part of a Life Insurance Podcast series in partnership with FMI. In this podcast series, COVER’s Tony van Niekerk will be chatting with Mapalo Makhu, author, award-winning personal finance coach, speaker and founder of the Woman & Finance platform and Brad Toerien, former CEO of life insurer FMI. In our previous two episodes, we looked briefly at the insurance gap – the fact that many South Africans are under-insured. And if we’re going to close that gap, we’ve first got to close the trust gap between consumers, advisers and the industry as a whole. We also looked at the concept of income...
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