Profit pressure for life insurers

Life insurers’ net profits have fallen during the third quarter this year compared to the corresponding period last year, according to the Australian Prudential Regulation Authority’s (APRA) quarterly statistics.

This quarter the industry reported net profits of $657 million, compared to $976 million in the 2009 September quarter. No reason for the fall was given in APRA’s report.

AHIP Opposes Rate Review Rule

America's Health Insurance Plans' (AHIP) President and CEO Karen Ignagni today released the following statement on the proposed rate review rule released by the Department of Health and Human Services:

Life Insurers' Growth Challenged by Regulatory and Economic Uncertainty, E&Y Predicts

Despite entering 2011 with a stronger balance sheet, reasonable earnings momentum and slightly rising direct premiums, the U.S. life and annuity insurance industry will be challenged by broad regulatory changes and an uncertain economic environment, according to Ernst & Young's Global Insurance Center 2011 US Outlook for the life insurance industry.

MetLife Mature Market Institute Study Estimates Boomers’ Inheritance at $8.4 Trillion

The Baby Boomers, whose financial portfolios have been the focus of much discussion about poor economic prospects, may be finding a ray of hope in the distinct possibility that they will receive an inheritance, according to “The MetLife Study of Inheritance and Wealth Transfer to Baby Boomers.”

Rain a blessing for some, a curse for others

Large areas of eastern Australia’s wheat belt have escaped the devastating floods which swept through NSW and Victoria last week.

Primacy Underwriting Agency Underwriting Manager Peter Book says some crops will be lost, but the overall situation isn’t as bad as has been made out.

In Insurance News (the magazine) this month

It’s back by popular demand – the Insurance News list of the 20 most influential people in the industry. Publisher Terry McMullan says this year’s list was compiled only because so many readers asked for it.

New York Life Settlement Act Applies Regardless of Investor Residence

Recent articles have incorrectly suggested that the New York Insurance Department’s Office of General Counsel (OGC) opinion, OGC Op. No. 10-10-01, issued Oct. 21, concluded that the New York Life Settlement Act does not apply to investors resident in Canada. In fact, the opinion reached the opposite conclusion.

Swiss Re expert predicts pain before gain

The global insurance industry faces a tough year ahead, but insurers will see stronger returns from 2012, a senior Swiss Re economist says.

“We are seeing the global economy recovering slowly but with that improvement we predict it will lift premiums,” Swiss Re Chief Economist North America Kurt Karl told insuranceNEWS.com.au.