Life Insurance Roundup, July 7, 2016

NY regulator to adopt new way to calculate life insurance reserves | Reuters

New York state’s financial regulator will adopt a new method for life insurers to determine how much money they are required to set aside for paying future policy claims, the agency said on Wednesday. 

County Commission restores retiree life insurance payouts

Playing to a vocal audience of retirees during a special called meeting, the Shelby County Commission voted Wednesday to remove plans from the county’s operating budget that would have cut retiree death benefits to $20,000. 

Churn, trips to Vegas, and high upfront commissions in the life insurance sector, but what about the banking sector? |

Churn, trips to Vegas, and high upfront commissions in the life insurance sector, but what about the banking sector? 

Marc Van Beers, Aurore Martin: Diabolical Belgian Honeymoon Killers In Life Insurance Money Scam Subject Of ‘The Perfect Murder’ On Investigation Discovery

Marc Van Beers, the Belgium husband who was killed at the request of his wife, Aurore Martin, and her lover, Peter Schmitt, more than 20 years ago, will be the inspiration for Wednesday’s The Perfect Murder on Investigation Discovery (ID). 

Insurance watchdog launches review of higher-risk life insurance products | Daily Mail Online

Europe’s insurance watchdog has launched a EU-wide review of market conduct at insurers offering higher-risk products, dubbed unit-linked life insurance policies. 

EIOPA analyses market behaviour in unit-linked life insurance products | The Actuary, the official magazine of the Institute and Faculty of Actuaries

The European Insurance and Occupational Pensions Authority (EIOPA) has launched an EU-wide thematic review on the conduct of companies which offer unit-linked life insurance products. 

China Approves New Life Insurance Firm –

Chinese listed holding firm Shenghe Resources received approval for its plan to set up a new life insurance company, called Huagui Life Insurance, in China. 

Life insurance loan

Taking out a loan against your life insurance policy is a dynamic and flexible way to generate additional liquidity from your policy without having to surrender it. 

Life Insurance – Duty of Disclosure Disclosure on Vimeo

Life Insurance – Duty of Disclosure Disclosure 

Life Insurance Employee Benefit

Sometimes employers want to provide their key executives, partners or highly compensated employees with life insurance coverage that offers benefits beyond traditional group term life insurance. 

FSC unleashes fresh assault on life insurance taxes – Financial Services – Insurance News –

The imposition of state taxes and levies on life insurance has worsened in the past seven years, according to an updated Financial Services Council report. 

Life Insurance – Why You Need It on Vimeo

Life Insurance – Why You Need It. 

Life insurance coverage falls to 2001 levels – The Economic Times

MUMBAI: Life insurance coverage in percentage terms in India has slipped to the level it was 15 years ago to about half the global average, according to a recent Swiss Re report, which said this will rise as government initiatives take effect and economic growth gathers pace.

Valuing life insurance firms is no easy exercise | Business Line

The life insurance industry has been abuzz with mergers and acquisition activity in the last couple of months, and this could change the structure of the business in India. 

Life insurance reinsurance pie to get bigger | Business Standard News

Reinsurance space in the life insurance industry is set to see more action in the near future with more number of players looking to capture this space. 

How much life insurance cover should one buy?- Business News

Before the question “how much life insurance cover one should buy”, the first question is to determine “whether you need life insurance”. If you have no dependents and/or have adequate assets to cover your debts and assist your dependents if you are not around, then you don’t need life insurance. 

Healthy growth in life, non-life insurance premiums in Asia: report – Livemint

Despite economic headwinds, life premiums in emerging Asia grew faster in 2015 than in 2014, by 16% against 9.1%. The improved performance was in part due to recovery in India and the Philippines, and sustained strong expansion in Indonesia and Vietnam, according to a report by Swiss Re, World insurance in 2015:c steady growth amid regional disparities. 

Max Life Insurance bags three awards at 6th Fintelekt India Insurance Awards 2016

Max Life Insurance, one of India’s leading non-bank promoted private life insurers, a joint venture between Max Financial Services Ltd and Mitsui Sumitomo Insurance Co. Ltd, has been conferred with three prestigious awards- e-Business Leader, Agency Efficiency and Claims Service Leader – at 6thFintelekt India Insurance Awards ceremony held in Mumbai. 

HDFC shares to get fillip from Max Life merger | The Financial Express

Earnings outlook for the core mortgage lending of HDFC is set to improve following sluggish growth over FY14-16. The intrinsic value of the stock would also get a fillip from the recent acquisition announced by the life insurance arm, driven by strengthening market position of the business and potential for unlocking synergies. 

Insurance firms to tailor only for online sales that are cheaper as there are no intermediaries – The Economic Times

MUMBAI: Online is growing as an alternate channel for health, motor and travel insurance products. It has in fact become the primary channel for pure protection products due to the cost benefits. 

Get ready to own a stake in your favourite insurer as six companies line up IPO plans – The Economic Times

For equity investors, the drought of investing options in insurance all these years may turn into a flood this fiscal.  

How much life cover do you need? – The Economic Times

MUMBAI: How much life insurance you need depends on your income, liabilities and dependents. The thumb rule, financial experts say, should be at least 10-15 times the annual income. 

Irdai asks insurance cos details of social sector biz –

Regulator Irdai has asked insurance companies to file details of their business in the rural and social sectors, a move aimed at checking if they are fulfilling their obligations in these two areas. 

Insurers up tempo, don’t take your eyes off Dalal Street – The Economic Times

MUMBAI: Even if overseas investors have become wary of emerging markets due to global uncertainty, Indian stocks should find strong support from insurance companies, adding to a rally that has taken the benchmark Sensex to year highs. After a five-year hiatus, life insurers are turning net buyers of stocks amid a revival of faith in unit-linked insurance plans (Ulips).  

Mapping your financial requirements

As a first step, you need to identify your requirement for money and when you would need the money, i.e. why, how much and by when. 

FinMin to issue Cabinet note on listing of public sector insurance companies soon | Latest News & Updates at Daily News & Analysis

Finance Ministry will soon issue a draft Cabinet note on listing of public sector general insurance companies in line with the announcement made in the Budget. 

Notice of insurance claim | Inquirer Business

This may be attributed to, among others, the public’s unwholesome impression of insurance agents—they’re around when premiums are still being paid, but are nowhere to be found when claims are made. 


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