UK pension fund returns see dip
The average UK pension fund
booked a negative annual
return for the first time since
2008 last year, nudged into the red
by a marked rise in stock market
volatility caused by the euro
zone crisis, an early survey of the
industry revealed.
Returns were minus 0.9 per
cent for the year, BNY Mellon
estimated, due to a negative
return of 4.8 per cent...
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Chinese insurers post 10%
increase in total premiums
despite challenges
China’s insurance industry
collected CNY1.43 trillion
(US$227 billion) of premiums in
2011, up by 10.4% y-o-y, despite
difficult conditions during the
year, according to the CIRC.
“Despite the steady growth, the
insurance industry is still facing
deeply-rooted problems that
need to be addressed....
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AIA sizes up bid for $6-billion ING Asia
insurance biz
AIA Group, Asia’s third-largest
insurer, is contemplating an
offer for Dutch ING’s roughly
$6-billion Asian insurance
operations, sources said, with
the planned sale of the business
expected to draw heavy interest
from rivals.
AIA, about one-third owned by
American International Group,
has invited four banks to pitch
for advisory roles for a potential...
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UK consumer
insurance
reform clears
first hurdle
A long awaited shake-up of
consumer insurance law that
could make it harder for insurers
to void claims has cleared the
House of Lords.
The House of Lords has passed
the Consumer Insurance
(Disclosure and Representations)
Bill. The bill will now receive its
second Commons reading.
The legislation..
Bangladesh’s insurance regulator
tightens up life insurance practices
Bangladesh’s insurance regulator
has taken a raft of measures
to tighten up practices in the
life insurance sector, including
flattening the agency structure of life
insurers and abolishing payment of
remuneration in cash.
The Insurance Development and
Regulatory Authority (IDRA) of
Bangladesh has cut 15 layers of
business in the life sector..
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