Insurer

Aegon UK has announced the redundancy of its Protection Distribution Director and plans to take on new hires, as it embarks on restructuring its Protection business.

Aegon's UK business has reported a £5m fall in earnings before tax for the final quarter of last year, which it said is the result of a £7m spend on technology including on a non-advised platform.

Royal London New Business Results for the year to 31 December 2013 show protection sales dropped 15% over last year to £436m for the Scottish Provident and Bright Grey brands.

Aviva has withdrawn its corporate hospitality events for its life distributors following the release of the Financial Conduct Authority's guidance on inducements and conflicts of interests.

PWC has estimated weather-related damage in December 2013 and January this year could cost the insurance industry up to £500m.

Munich Re estimates one in seven claims are paid in respect of someone deliberately failing to disclose relevant medical or lifestyle facts on application, mostly so significant that the application should have been rejected.

Lloyds Banking Group says it is increasing its provision for the mis-selling of payment protection insurance (PPI) by another £1.8bn, bringing the total to nearly £10bn.

Friends Life is planning to launch a master trust following increased focus on good scheme governance from The Pensions Regulator (TPR) and other industry bodies.

Legal & General has today announced it has improved its financial underwriting criteria for customers taking out life insurance and critical illness cover.

Canada Life Group Insurance has launched a YouTube channel hosting in-depth webcasts for both advisers and clients.