All of life insurance ↝ Life insurance

APRA releases life insurance statistics for March 2020, Mirage News

The Australian Prudential Regulation Authority (APRA) has released its Quarterly Life Insurance Performance Statistics publication for the March 2020 quarter. The Quarterly Life Insurance Performance Statistics publication provides industry aggregate summaries of financial performance, financial position, capital adequacy and key ratios. Key performance statistics for the life insurance industry in the year ended 31 March: Key performance statistics for the life insurance industry in the quarter ended 31 March: The life insurance industry’s performance continues to worsen. Net loss after tax was $1.8 billion for the year to March 2020, a significant reduction from $759 million profit...

Best s Market Segment Report: AM Best Revises Outlook on South Korea s Non- Life Insurance Market to Negative Amid COVID-19 Pandemic, Business Wire

HONG KONG--( BUSINESS WIRE )--AM Best has revised its market segment outlook to negative from stable on South Korea’s insurance industry’s non-life insurance sector. Key factors underpinning the revised outlook include the sector’s deteriorated loss ratios in major business lines, escalated pressure on investment earnings amid a historic low interest rate environment and increased asset risk due to capital market volatility. A new Best’s Market Segment Report, titled, “Market Segment Outlook: South Korea, Non-Life,” states that South Korea’s non-life insurance segment went through a difficult year in 2019, particularly in terms of underwriting performance. Despite a 4.8% growth in gross...

83 Million Americans Say Coronavirus Makes Them More Likely to Buy Life Insurance - ValuePenguin

As the coronavirus pandemic continues to impact everything from the larger economy to daily life, it's exposed many areas where we aren't nearly as prepared as we thought. For one, worries over personal safety have driven more interest in life insurance coverage. In a recent survey, ValuePenguin asked a nationwide sample of consumers about their thoughts on life insurance in the current situation. Key findings 1 in 4 say COVID-19 has increased their interest in life insurance, with men more likely to agree than women When asked whether the coronavirus situation had influenced their likelihood of getting life insurance, 25% of consumers said it had made them more likely to do so. About 69%...

Reliance Standard Selects EIS Group’s Insurance Platform for Voluntary Benefits

Reliance Standard Selects EIS Group’s Insurance Platform for Voluntary Benefits Modern, open technology platform will support transformation and innovation in insurer’s voluntary benefits business SAN FRANCISCO, May 05, 2020 (GLOBE NEWSWIRE) -- EIS Group, a global core and digital platform provider for insurers, today announced that Reliance Standard Life Insurance Company (Reliance Standard), a leading group insurance carrier specializing in employee benefits solutions for companies of all sizes, has selected EIS Suite™ as the new core platform for its voluntary benefits business. The platform will be used for product development, rating, policy administration, billing, and customer...

Engineering Insurance Market Precise Outlook 2020-CPIC, Cardinal Health, Asahi Mutual Life Insurance, Mitsui Mutual Life Insurance Cole Reports

Global Engineering Insurance Market Research Report 2020-2027 is a valuable source of insightful data for business strategists. It provides the industry overview with growth analysis and historical & futuristic cost, revenue, demand and supply data (as applicable). The research analysts provide an elaborate description of the value chain and its distributor analysis. This Market study provides comprehensive data which enhances the understanding, scope and application of this report. (Exclusive Offer: Up to 30% discount on this report) Top Key Players in the Global Engineering Insurance Market: CPIC, Cardinal Health, Asahi Mutual Life Insurance, Mitsui Mutual Life Insurance, AXA, PingAn...

ZA Bank, Hong Kong s First All-Digital Bank, to Offer Insurance Services through "ZA Life" and "ZA Insure"

ZA Bank, the first digital bank to officially launch in Hong Kong, has decided to expand its line of products and services by offering insurance. This, soon after ZA Bank acquired a digital-only insurer license from the Hong Kong Insurance Authority under its Fast Track pilot program. The digital bank’s new product offering, ZA Life, will be managed under the trade name ZA Insure. It aims to eliminate third-parties or intermediaries via an all-digital insurance network that fulfills quotations, underwriting and claims. ZA Insure has been developed with the help of Fubon Life Insurance. It’s expected to launch soon, and will offer products such as life insurance and critical illness...

HSBC to take full control of its Chinese life insurance joint venture

HSBC said on Monday it had agreed to buy out its life insurance joint venture partner in China, the latest foreign firm to take advantage of new rules designed to further open up the financial services sector in the mainland. The bank, which is based in London, but generates most of its revenue in Asia, said it would acquire the remaining 50 per cent it does not own in HSBC Life Insurance Company, also known as HSBC Life China, from its Beijing-based partner National Trust. Details of the transaction were not disclosed. The acquisition is HSBC's latest bet on growth in the mainland. As part of a massive overhaul announced in February, the bank said it would shift more resources from capital...

Press Release - April 10, 2020: DFS Secures Over $1 Million for Consumers from Three Life Insurance Companies for Deferred to Immediate Annuity Replacement Violations, Department of Financial Services

DFS SECURES OVER $1 MILLION FOR CONSUMERS FROM THREE LIFE INSURANCE COMPANIES FOR DEFERRED TO IMMEDIATE ANNUITY REPLACEMENT VIOLATIONS Three Insurers to Pay $1,084,407 in Restitution Collectively to New York State Consumers, Plus $934,000 in Penalties DFS’ Ongoing Industry-Wide Investigation Continues to Protect Consumers Financial Services Superintendent Linda A. Lacewell today announced that the Department of Financial Services (DFS) has entered into consent orders with three life insurance companies: Lincoln Life & Annuity Company of New York, MassMutual Life Insurance Company, and Pacific Life & Annuity Company for violations of New York Insurance regulations in deferred to...

Types of Life Insurance: An Article from New York Life - NYLAARP

How Life Insurance Works When you buy life insurance, you pay premiums to an insurance company. In return, the company agrees to pay a death benefit to your beneficiary which can be anyone you choose, such as your spouse or children. Many companies can provide this protection at an affordable cost, regardless of your age. All Policies Aren’t the Same Types of life insurance are divided into two broad categories: term and permanent. Term life coverage lasts for a set period of years. Permanent life, also known as whole life, can last as long as you live. Why Choose Term Life Insurance? Term life insurance is a way to get the coverage at an affordable initial rate, with the understanding...

Prudential Life Insurance launches free coronavirus benefit to cover customers -

In response to the COVID-19 pandemic, which is impacting the world and threatening the lives and wellbeing of Ghanaians, Prudential Life Insurance Ghana has introduced the free Pru Covered-19 to support new and existing customers. The innovative Pru Covered-19 benefit takes effect from March 30, 2020, for existing customers and activated from the policy start date for new customers. For the next 45 days, the benefit will provide Prudential Life customers with a COVID-19 cover under their in-force policies. There is no waiting period for existing customers and a two-week waiting period for all new customers under this benefit due to the emergent nature of COVID-19. The Pru Covered-19...