Live Insurance News

Life insurance market in Kenya now includes Barclays

May 5, 2015May 2, 2015 H. Cutner

africa insurance market life industry growth

The formal entry into the country’s marketplace has now begun with a brand new launch. Barclays Africa Group Limited has now launched Barclays Life Assurance Kenya (in which it has a majority ownership of 66.6 percent), representing its formal entrance into that country’s life insurance market. This represents the fifth market in Africa into which Barclays has established its insurance business in that sector. The other African markets into which Barclays has taken its first steps include Zambia, Botswana, South Africa, and Mozambique. Among the other shareholders in this life…

Life insurance controversy sparked in the United Kingdom

April 1, 2015March 30, 2015 S.Vagus

Financial Conduct Authority criticized for breaking its own rules The Financial Conduct Authority, a financial regulatory body in the United Kingdom, may have mishandled its review of the life insurance industry last year, according to a report from a committee of members of the British Parliament. The report is the latest development in ongoing controversy regarding the Financial Conduct Authority’s plans to review the life insurance sector. This review has had a significant impact on the sector, with the regulatory body wiping some $4 billion off the value of insurance…

Life insurance won’t be impacted by doctor-assisted suicide ruling

February 9, 2015February 7, 2015 Julie Campbell

An industry association has said that the Canadian court decision won’t have a significant affect. An insurance industry association has released a statement with regards to the potential affect on life insurance of the very recent ruling by the Supreme Court of Canada that has overturned the previous ban that had prohibited doctor-assisted suicide. The association said that the impact that will occur on that industry will not be a significant one. The ruling from the top Canadian court was made on Friday, in a unanimous decision to strike down…

Life insurance sales to begin in Massachusetts by Mapfre USA

August 28, 2014August 25, 2014 H. Cutner

The largest auto insurer in the state has now announced that it is branching into this coverage sector. The Commerce Insurance parent company, Mapfre USA, has now announced that it will be branching out into the life insurance market in Massachusetts, expanding its offerings to consumers in the state. This is occurring as the company faces increasing competition in the auto insurance market. Large national companies such as Progressive and GEICO have been putting the pressure in the traditional business of Mapfre USA, so that insurer is now reaching out…

Man pleads guilty to murder in life insurance fraud case

July 31, 2014July 31, 2014 Julie Campbell

The individual has admitted to helping a friend kill his wife in order to claim the policy’s benefits. A DNA match in evidence from a murder case has led a man to plead guilty to having helped his friend to kill his wife so that benefits could be claimed on the life insurance policy that had been taken out for her. Initially, Dellendo Campbell had thought that he was not going to be caught for his involvement in the murder. The reason that Campbell believed that he wouldn’t be caught…

How Life Insurance Has Changed in the Past 5 Years

October 19, 2013April 19, 2014 Guest Author

Facing the realities of the economic state of affairs across this country, society has evolved to display continually increasing interest in financial solutions that provide improved and increased predictability. Whether they are found in the forms of life or death benefits, or simply in better asset protection, the industry is changing and adjusting to deliver to consumers these new demands. In the past five years, the life insurance industry has adapted to the modification of the country’s financial climate, all while developing some exceptional ideas and solutions to meet the…

Life insurance assets from Swiss Re in U.S. may soon be for sale

October 18, 2013March 1, 2014 G. Turner

The company has announced that it is considering a retreat from the market in the United States. Sources familiar with Swiss Re Ltd. have revealed that it is thinking about putting its Aurora National Life Assurance Co. up for sale as it is drawing back from the American health and life insurance marketplace. This second largest reinsurer in the world is now taking efforts to seek out buyers for the assets. Swiss Re is working alongside Barclays PLC in order to be able to locate buyers for Aurora National as…