Insurance industry
In a significant move to expand its marketing reach, Nippon Life Insurance Co., Japan's largest life insurance group, has tied up with Sumitomo Mitsui Banking Corp. to sell insurance products through the new banking group's network. This partnership is part of Japan's liberalization of
Insurance industry
Trinity Mirror employees are bracing themselves for big cuts in their company pensions after discovering that the newspaper group's pension fund invested millions in Equitable Life, the beleaguered life insurer. This makes Trinity Mirror the second company to fall victim to Equitable's financial difficulties, following a
Insurance industry
China's membership in the World Trade Organization (WTO) is set to bring significant changes to the global market, with some changes happening immediately and others occurring over the next five years. With over 65 million cell phone users, China is already the world's second-largest wireless market
Insurance industry
The financial services overhaul bill passed by Congress in November 1999 aimed to lift restrictions on mergers between banks and insurance companies. However, a year later, no large US banks or insurers have merged to create their own version of Citigroup, citing bank stocks' slump and volatility in the
Insurance industry
Marion Thomas's life was turned upside down when Equitable Life, the provider of her with-profits AVC, imposed a 10% levy on her pension fund. Thomas had been contributing £160 a month to her £20,000 AVC for 20 years, only to be told that she would have to
Insurance industry
The Financial Services Authority (FSA) has come under intense scrutiny from policyholders and experts alike for its handling of the Equitable Life crisis, with the mutual insurer closing its doors to new business after a failed sale, affecting 600,000 members and cutting returns on their savings. Ron Bullen, Chairman
Insurance industry
At the height of its success two years ago, Lloyds TSB, Britain's biggest bank, was virtually untouchable. With a market value of more than £50 billion, it was the clear winner in the battle to dominate the UK's financial landscape. However, a series of failed takeovers
Insurance industry
Liberty Life Insurance Co., a subsidiary of Royal Bank of Canada, has entered into a national strategic marketing alliance with Prism Mortgage Company to offer mortgage life insurance through Prism loan officers. This agreement enables Liberty Life to tap into the customer base of one of the nation's
Insurance industry
Eureko, the European insurance group, is reportedly considering a bid for Equitable Life, the mutual life assurer that put itself up for sale in July. The move comes as CGNU, the UK's largest insurer, is unlikely to submit a bid, and Prudential remains in talks with Equitable. Analysts
Insurance industry
Standard & Poor's today affirmed its double-'A'-minus counterparty credit and financial strength ratings on the Old Republic Title Insurance Group (ORTIG). The ratings reflect the implicit support extended to ORTIG from its parent, Old Republic International Corp., and Standard & Poor's view
Insurance industry
Crain's Chicago Business has published a list of new appointments and promotions across various industries, including arts, consumer services, education, financial services, healthcare, manufacturing, real estate, and services. The list highlights the diversity of professionals moving into new roles and the growth of the Chicago business community. Key
Insurance industry
As the UK financial services industry continues to evolve, several notable developments and trends are emerging. Royal & SunAlliance has agreed to sell its Italian life assurance operations to Veneto Banca, while St James's Place Capital is gearing up to launch a private bank. Meanwhile, the government is
