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Nov 6, 2015

Belgian insurer Ageas mulls options for 2.5 bln euros cash pile-CEO

LONDON, Nov 6 (Reuters) – Belgian insurer Ageas
will have 2.5 billion euros ($2.7 billion) in cash from next
year to spend on acquisitions or give back to shareholders, its
chief executive Bart De Smet said on Friday.

Ageas, the former insurance unit of bailed out Belgian-Dutch
group Fortis, has seen its cash pile boosted by the sale of the
group’s Hong Kong business for HK$10.7 billion ($1.4 billion),
which will complete next year.

Nov 5, 2015

Insurer RSA relaxed about potential offers as third-quarter net asset value rises

LONDON (Reuters) – British insurer RSA is not looking to be taken over but might consider offers if they are in shareholders’ interests, Chief Executive Stephen Hester said on Thursday after the firm posted a 4 percent rise in net asset value in the third quarter.

Tougher regulation and hefty competition in the insurance sector, along with low investment returns, have encouraged a number of insurance tie-ups globally.

Nov 5, 2015

Insurer RSA relaxed about potential offers as Q3 net asset value rises

LONDON, Nov 5 (Reuters) – British insurer RSA is not
looking to be taken over but might consider offers if they are
in shareholders’ interests, Chief Executive Stephen Hester said
on Thursday after the firm posted a 4 percent rise in net asset
value in the third quarter.

Tougher regulation and hefty competition in the insurance
sector, along with low investment returns, have encouraged a
number of insurance tie-ups globally.

Nov 4, 2015

Legal & General net cash up 14 pct in pensions shift

LONDON, Nov 4 (Reuters) – British insurer Legal & General
‘s net cash generation rose 14 percent in the first nine
months of 2015, as the firm shifts focus from individual annuity
sales, and assets under management rose 8 percent.

The announcement on Wednesday sent its shares higher.

British life insurers have been reinventing themselves after
pensions reform halved the sales of individual annuities, which
give a fixed income for life and were a staple product for the
sector.

Nov 3, 2015

UK insurers’ solvency models must stay fit for purpose -BOE

LONDON, Nov 3 (Reuters) – Around 20 British insurers are
applying to use their own internal solvency models from Jan 2016
and must ensure the models remain appropriate after new European
capital rules are introduced, Britain’s top insurance regulator
said on Tuesday.

The internal models should enable insurers to cut capital
costs under the new rules, in comparison with a standard model.

Oct 30, 2015

Aviva new business rises 25 percent after Friends Life buy

LONDON (Reuters) – British insurer Aviva’s value of new business rose 25 percent in the first nine months of 2015 following this year’s acquisition of Friends Life, making its shares the top gainer in the FTSE 100 index on Thursday.

Life and general insurer Aviva bought Friends Life in a 5.6 billion pound ($8.5 billion) deal in April, creating a market leader in life insurance.

Oct 29, 2015

Tax hike may rattle British motor, home insurers

LONDON, Oct 29 (Reuters) – A tax hike on British motor and
home insurance policies effective from Sunday is set to hit
consumers and could trigger a fresh round of margin-squeezing
price competition among general insurers.

The jump in the insurance premium tax (IPT), to 9.5 percent
from 6 percent, was a surprise announcement in the July budget
and could be a particular blow to motor insurers like Admiral
and Direct Line, already struggling to compete
on price, analysts said.

Oct 29, 2015

Aviva new business rises 25 pct after Friends Life buy, shares rise

LONDON, Oct 29 (Reuters) – British insurer Aviva’s
value of new business rose 25 percent in the first nine months
of 2015 following this year’s acquisition of Friends Life,
making its shares the top gainer in the FTSE 100 index
on Thursday.

Life and general insurer Aviva bought Friends Life in a 5.6
billion pound ($8.5 billion) deal in April, creating a market
leader in life insurance.

Oct 28, 2015

Rates ‘lower for longer’ boost Standard Life third-quarter net inflows

LONDON (Reuters) – British insurer and asset manager Standard Life (SL.L: Quote, Profile, Research) reported strong net inflows for the third quarter on Wednesday as investors looked to increase returns against a backdrop of low interest rates and volatile markets.

Standard Life has been switching its focus from insurance products such as annuities to “fee-based” business such as more flexible drawdown pensions and its asset management arm.

Oct 28, 2015

Rates ‘lower for longer’ boost Standard Life Q3 net inflows

LONDON, Oct 28 (Reuters) – British insurer and asset manager
Standard Life reported strong net inflows for the third
quarter on Wednesday as investors looked to increase returns
against a backdrop of low interest rates and volatile markets.

Standard Life has been switching its focus from insurance
products such as annuities to “fee-based” business such as more
flexible drawdown pensions and its asset management arm.

    • About Carolyn

      "I have worked at Reuters for more than 20 years but I switched in Sept 2014 to a new beat - insurance and fund management. I write about insurance deals, fund trends, geopolitical risks insured by Lloyd's and I'm grappling with understanding company accounts."
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