Enhanced annuities, which are offered to customers whose medical conditions, habits or occupations are deemed likely to shorten their life expectancies, are growing in importance in the U.K. life market...
| BestWire Services
The head of a trade group for France's mutual insurers believes European consumers may pay the price for a new regulatory scheme, as smaller mutuals weigh under heavier capital requirements.
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National Australia Bank's plan to take over Axa Asia Pacific Holdings Ltd. has been rejected a second time by the Australian Competition and Consumer Commission for the same concern of lessening competition in the retail investment market.
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American International Group Inc. said it has not changed its position on the divestment of its Taiwanese life subsidiary Nan Shan Life Insurance Co. Ltd., following the rejection of Taiwan's regulator on the sale to a Hong Kong-based consortium.
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India's Insurance Regulatory and Development Authority said it has declined to renew the composite broker license of Willis India Insurance Brokers Pvt. Willis India, which is held by Baichand Amoluk Consultancy Services, 74%, and Willis Europe, 26%, made its application to renew the broker license in February 2009.
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Insurers are now permitted to invest in the equity of unlisted companies and real estate with an aim to help them ease investment pressure and diversify risks in addition to improve their asset-liability portfolios, according to the China Insurance Regulatory Commission.
