Sir Adrian Montague has issued a call for evidence for a review aimed at encouraging greater investment by institutional investors in privately rented properties. The review, which forms part of the Government’s housing strategy, will examine ways of boosting investment in the UK’s private rental market, supporting the rapid growth of the sector. Launching the [...]
Despite the recent period of geo-political turmoil, many economies are presenting increased growth opportunities for global energy firms, claims Marsh. On its latest Political Risk Map, Brazil, Bolivia, Chile, Colombia, Indonesia, Mexico, Peru, Russia, Thailand, Turkey and Uruguay are highlighted as economies with potential, given certain improvements in their legal and regulatory regimes. Higher-risk countries [...]
The House of Commons Justice Committee is calling for new legislation to help families when someone goes missing. MPs want a “presumption of death act”, modelled on existing legislation in Scotland and Northern Ireland, to clarify the legal position of spouses and others who might otherwise suffer serious financial consequences over an unexplained disappearance. Having [...]
Aviva has revamped its support to advisers to help them overcome barriers in selling family protection. The insurer wants advisers to emotionally engage with consumers by focusing on the positive aspects of family life and opening up conversations around “What makes your family special?”. By switching the emphasis from protection products to family life, they [...]
The UK’s pensions providers need to find new ways for people to top up and manage their pension payments, according to research from Friends Life. A study for Friends by the Future Foundation indicates that millions of Britons are keen to pay into their pensions using an ATM, making deposits in cheques, cash and by [...]
With one in ten motorists regularly stressed behind the wheel, AXA has been looking into soothing techniques. According to the insurer’s research, having a cuppa topped the motorist’s stress-busting list but is hardly an option when stuck in a traffic jam, being tailgated or feeling rushed. More feasible is something that doesn’t distract but can [...]
Deutsche Bank says it has completed a €12 billion longevity swap with AEGON in a transaction that is the first of its kind because it is targeted directly to the capital markets. The deal therefore represent a step forward in helping pension funds and insurance companies provide solutions for an ageing population. By distributing the [...]
Legal & General’s group critical illness cover now includes cover for aplastic anaemia, bacterial meningitis, cardiomyopathy, encephalitis and liver failure. In addition, the insurer has adjusted the survival period for most illnesses from 30 to 14 days and is increasing the value of support available to claimants. Their maximum benefit can now be up to [...]
AEGON has appointed its UK chief executive officer, Adrian Grace, to its management board. Most recently, Mr Grace has been responsible for leading the transformation taking place at AEGON UK, as it repositions its business. A centrepiece of the restructure was achieving a reduction in operating costs of 25% by end 2011, and refocusing the [...]
Investment professionals are seeing an increased focus on income among clients across most asset classes, according to new research from Aviva. In a recent survey, Aviva Investors’ multi-manager team asked fund managers based in the UK, US, Europe, Asia and Latin America for their views on the macro-economic environment, return expectations and client behaviour in [...]
Legal & General’s With Profits fund returned 1.7% (before tax) in 2011 and the group has confirmed that it can maintain annual bonus rates at last year’s levels for conventional endowment mortgage customers, and for the majority of its bond and unitised pensions customers. Total bonuses of £459 million have been added to With Profits [...]
Guy Carpenter’s securities unit has placed the first Japan earthquake-only earthquake catastrophe bond since the Tohoku event almost a year ago. The transaction involves a notional principal of $300 million, through a newly-created catastrophe bond shelf programme, Kibou Ltd. The bond will ultimately benefit ZENKYOREN (Japan’s national mutual insurance federation of agricultural cooperatives), which was [...]
Margaret Cole is quitting her job at the Financial Services Authority (FSA) later this year. Ms Cole joined the FSA in 2005 as director of enforcement and currently holds the post of interim managing director, Conduct Business Unit. Commenting on her departure, she says: “I joined the FSA to help in the fight against wrongdoing [...]
Allianz has completed a €1.5 billion fundraising with the issue of a senior bond. Listed on the Luxembourg Stock Exchange, the senior bond has a maturity of ten years and a fixed coupon of 3.5%. Guaranteed by Allianz SE, it was issued yesterday by the group’s Dutch financing subsidiary, Allianz Finance II B.V, and sold [...]
Aon Hewitt has launched its latest benefits & trends survey, which highlights the challenges UK companies face when developing employee benefits programmes. According to the study, the three most pressing issues are: managing cost; addressing low levels of employee engagement; and dealing with legislative changes. Auto-enrolment, where employees will automatically join a company pension scheme, [...]
Mercer and Marsh have established a new brand for international markets outside the US. The move is aimed at addressing employee benefit cost growth around the world by bringing together the companies’ expertise and resources to help solve the issue. “Mercer Marsh Benefits will provide clients with a single source for managing the costs, people [...]
Zurich has appointed Nicolas Burnet to the position of chief financial officer, global life, with immediate effect. The 43-year-old US citizen, who was previously the group’s chief risk officer, global life, succeeds Joachim Masur who has been appointed to the positions of chief executive officer, Zurich Switzerland, and chief executive officer, general insurance Switzerland. In [...]
The Fireman’s Fund Insurance Company (FFIC), a leading insurer of Hollywood films, has named “The Girl with the Dragon Tattoo” as the riskiest film of 2011. Based on the best-selling book by Stieg Larson, the production stars Rooney Mara and Daniel Craig as computer hacker, Lisbeth Salander, and journalist, Mikael Blomkvist. According to the FFIC, [...]
January 1st 2012 renewals saw a shift in industry behavior as both insurers and reinsurers implemented more sophisticated, customised approaches to risk assessment and mitigation, according to Guy Carpenter. In its 2012 global reinsurance outlook report, the firm notes that reinsurers were in a position to undertake a major review of pricing and underwriting, leading [...]
