In a recent report entitled Solvency II – Far-reaching Implications of New Insurance Regulation, Fitch Ratings has said that it expects Solvency II, the European Union’s new insurance regulatory regime, to have both positive and negative credit rating implications.
AXA has announced that it has agreed to sell its UK-based traditional life and pensions businesses, its IFA protection and corporate pension businesses and its annuity businesses, for £2.75 billion, to investment group Resolution.
In a move that could destabilise the deal, the chief executive of AIA has told industry executives that he would quit his post if the UK’s Prudential succeeded in its $35.5-billion takeover of AIG’s Asian business.
Lloyd's of London has published a list of the countries where the highest number of kidnappings occurred in 2008, and it seems the trend for kidnap is moving away from its traditional roots in Latin America and shifting further East
UK insurer Friends Provident recently announced an upturn in its fortunes through a new and exclusive deal with high street giant Tesco, while at the same time announcing first-quarter results that fell well short of expectations.