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LIC’s new business premium reports 25% growth for FY 2020 - business news - Hindustan Times

LIC’s new business premium reports 25% growth for FY 2020 business Updated: Aug 06, 2020 15:30 IST LIC building in Mumbai(Mint File Photo ) Life Insurance Corporation of India (LIC of India)’s New Business performance reported a 25.17 % growth in its first year premium by posting a highest-ever figure of Rs 1,77,977.07 crore for the year ended March 2020, the company has said in statement. The company’s Pension and Group Superannuation Business showed a growth of 39.46% and crossed one lac crore in the same period, collecting Rs 1,26,696.21 cr as New Business Premium Income as against Rs 90848.86 cr in the previous year corresponding period. A growth of 12.42 % in the country...

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New Aviva chief Amanda Blanc decides against splitting life and general insurance but signals foreign retrenchment, London Evening Standard

Aviva's new chief executive, the rugby loving Welshwoman Amanda Blanc, today reported a "robust" set of half-year profits but declared the troubled insurance giant must now only focus on businesses where it is big enough and profitable enough to generate major shareholder returns. While that will see no split up of its huge general and life insurance businesses, it is expected to see potential exits from overseas operations in countries such as France, Italy, Poland and Asia, which will be put under close scrutiny. The future dividend policy is also up for review with a cut now likely. Blanc, who was appointed only a month ago after her predecessor quit after just a year in the job amid...

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Capital Legacy talks life - The Mail Guardian

SPONSORED Capital Legacy, South Africa’s leading provider of Wills, says the onset of Covid-19 and the resultant tragic loss of lives in the country is exposing the extent to which South Africans appear to be ill prepared about getting their financial affairs in order when a loved one unexpectedly passes on. The company, which is partly owned by empowerment investment holding company African Rainbow Capital, is the single largest provider of Wills in the country. Alex Simeonides, Co-founder and CEO of Capital Legacy, says: “We saw, nearly 10 years ago, that not enough South Africans protected their legacies with a Last Will and Testament. Sadly, nearly 75% of South Africans pass away...

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Sapiens CoreSuite for Life Insurance Now Available on Microsoft AppSource

HOLON, Israel, Aug. 6, 2020 /PRNewswire/ -- Sapiens International Corporation, (NASDAQ: SPNS) (TASE:SPNS), a leading global provider of software solutions for the insurance industry, today announced the availability of Sapiens CoreSuite for Life Insurance on Microsoft AppSource, an online cloud marketplace that provides tailored line-of-business solutions. Sapiens CoreSuite, a platform that combines core insurance functionality with data analytics and a digital suite, can be deployed via the Microsoft Azure cloud. This includes full infrastructure, value-added services, and managed services, all of which enable customers to focus on their core business while reducing costs. "Sapiens feels...

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Which insurance claims have dropped during lockdown?, Insurance Business

By now, we all know that car insurance claims have dropped amid lockdown with fewer motorists on the road – but now we can add another type of insurance claim to the list of those reducing in numbers. According to Aegon, critical illness insurance policies saw 37% less claims during May this year compared to the same period last year – in sharp contrast to life insurance claims, which saw an increase in both April and May compared to the same period last year. In a new release from the firm, it outlined that cancer claims accounted for 60% of its critical illness (CI) claims last year and have remained the key cause for claims through lockdown. In fact, the company has only...

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NCB to merge life insurance businesses, Business, Jamaica Gleaner

Published: Sunday | July 5, 2020 | 12:09 AM The NCB Financial Group is awaiting the green light from regulator the Financial Services Commission, FSC, to begin streamlining its insurance arm. Having taken over large regional insurance conglomerate Guardian Holdings Limited last year, NCB is now looking transfer the insurance and annuities business of NCB Insurance Company, NCBIC, to Kingston-based Guardian Life Limited. NCBIC will continue to operate as a pension fund administrator and investment manager but will cease to write insurance. However, NCBIC will still also sell insurance products on behalf of Guardian Life but will do so under a new name, and is, therefore, seeking to be...

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Global Critical Illness Insurance Market Size 2020, Share, Statistics, Business Growth, Industry Outlook and Growth Opportunities 2025 Jewish Market Reports

The global Critical Illness Insurance market size was 25600 million US$ and it is expected to reach 79400 million US$ by the end of 2025, with a CAGR of 15.2% during 2018-2025. This report studies the global Critical Illness Insurance market size, industry status and forecast, competition landscape and growth opportunity. This research report categorizes the global Critical Illness Insurance market by companies, region, type and end-use industry. Critical illness insurance, otherwise known as critical illness cover or a dread disease policy, is an insurance product in which the insurer is contracted to typically make a lump sum cash payment if the policyholder is diagnosed with one of the...

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Foresters Financial Launches Children's Whole Life Insurance

Opportunity for generations to bond around the importance of giving back to their communities TORONTO, July 6, 2020 /PRNewswire/ - Foresters Financial™ (Foresters) today announces it is now one of very few industry players to offer standalone Children's Whole Life Insurance, with the launch of BrightFuture, its first product designed specifically for those currently under the age of 18 Available from July 5, 2020, a single BrightFuture application can be used to apply for coverage for up to six children. By purchasing BrightFuture, the owner, whether it be a parent, grandparent, or other legal guardian, protects an insured child's future insurability at a low cost and provides the child...

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Nassau acquires Foresters Life Insurance and Annuity Company - Reinsurance News

Nassau acquires Foresters Life Insurance and Annuity Company Nassau Financial Group, an insurance and financial services firm based in Hartford, CT, has completed the acquisition of Foresters Life Insurance and Annuity Company (FLIAC) from The Independent Order of Foresters. Nassau offers a range of insurance and fixed annuity solutions, as well as reinsurance, insurance distribution, and asset management capabilities across its four segments. Following the deal, it’s expected that Nassau will have combined assets of roughly $27 billion and capital of around $1.2 billion. FLIAC was founded in 1962 and operates as a provider of life insurance and annuity solutions with 112,000...

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Global Term Life Insurance Market 2020:Industry Size, Technology Market Analysis, Business Growth Opportunities, Segmentation and Future Development 2025 Cole Reports

“The Global Term Life Insurance Market report offers users the detailed study of the market and its main aspects. There are different marketing strategies that every marketer looks up to in order to ace the competition in the Global market. Some of the primary marketing strategies that is needed for every business to be successful are Passion, Focus, Watching the Data, Communicating the value To Your Customers, Your Understanding of Your Target Market. There is a target set in market that every marketing strategy has to reach. Some of the important aspects analyzed in the report includes market share, production, key regions, revenue rate as well as key players. This Term Life...

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