Protection
Canada Life individual protection business closure costs £17.1m
Canada Life's closure of its individual protection business cost the insurer C$29m, approximately £17.1m, it has reported. This is according to 2023 financial results for the company's parent Great West Life Co...
Read moreOne in three advice firms reviewing fees post-Consumer Duty – Mills
More than a third (37%) of advice firms have reviewed or changed their fees structure since the Consumer Duty was introduced, according to Sheldon Mills, executive director of consumers and competition at...
Read moreConsumer Duty: FCA praises insurers for extending health and wellbeing benefits and widening cover
The Financial Conduct Authority (FCA) has praised insurers for improving propositions to offer new health and wellbeing benefits and widening policy definitions to cover more customers. In its Consumer Duty implementation: good...
Read moreEmbea raises funds for embedded life insurance platform expansion
German insurtech Embea has raised €4m to expand its pan-European embedded life insurance platform and add new insurance products to its portfolio. The funding round was led by Atlantic Labs, a Berlin-based...
Read morePFS launches adviser Consumer Duty competency diagnostic tool
The Personal Finance Society (PFS) has launched a competency diagnostic tool to identify key areas of training needs to ensure adviser compliance with Consumer Duty. Proficiency+ Consumer Duty was developed in collaboration...
Read moreMercer meeting insurers to develop framework on reporting ESG credentials
Mercer is bringing health and protection insurers together for a second session with the aim of improving clarity and reporting of environmental, social and governance (ESG) credentials in the sector. Last year...
Read moreFCA and health regulator given April deadline for AI strategy
The government has given financial and health sector regulators an April deadline to put forward their strategies for the use of artificial intelligence (AI) in their sectors. It told the Financial Conduct...
Read moreUK adults feeling more financially comfortable – LV=
UK adults are feeling more financially comfortable compared to a year ago, according to research from LV=. The LV= Wealth and Wellbeing Research Programme found that the nation’s financial resilience is...
Read moreHowden Asia appoints regional chief client officer from Aon
International insurance broker Howden has appointed Mike Baker as chief client officer of Howden Asia. Based in Singapore, Baker reports to Goh Chye Huat, CEO, Howden Asia. Baker’s role is...
Read moreCIExpert withdraws concerns as AIG Life clarifies updated heart attack definition will not increase declined claims – exclusive
AIG Life has formally confirmed that its underwriting and claims payment approach has not changed after adopting Association of British Insurers (ABI) minimum wordings requirement for its heart attack definition on critical...
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