More consolidation expected
Reinsurers are facing pressure from competition and are likely to find it difficult to maintain strong profitability in the next two years, Standard & Poor's has warned.
The global reinsurance industry is likely to see more mergers and the next 12 to 24 months are unlikely to see a return to the profitability of the last five years, a report from Standard & Poors' has warned.
Just Retirement and Partnership have announced a merger deal.
OneFamily, the brand for the combined Engage Mutual and Family Investments business, has called on advisers to help direct families to financial support they may be entitled to.
Towers Watson has merged with insurance broker Willis Group in an $18bn (£11.4bn) deal to create a wide-ranging global advisory, broking, and solutions provider.
Darren Spriggs, managing director of AIG Life has said that he will stay on to ensure the transition of the business to a new team after announcing his resignation.
Mutuals Engage Mutual and Family Investments have now rebranded as OneFamily following the completion of a merger announced at the end of 2014.
Aviva has announced changes to its senior management following the acquisition of Friends Life by Aviva.
In part one of three videos, AIG Life's managing director Darren Spriggs tells COVER about AIG's purchase of Ageas Protect, Ageas Protect's rebranding to AIG Life and what advisers need to know about the changes.
Aviva's shareholders have approved the merger with Friends Life in a meeting in London.
The merger between Friends Life and Aviva has been cleared by the regulators, meaning that only the shareholder vote now remains to be cleared.
Aviva's merger with Friends Life will see 1,500 staff removed out of the combined workforce of 31,500 people.
The members of Family Investments and Engage Mutual have both voted in favour of a merger of the two companies which will create one of the biggest mutuals in the UK.
LV= has agreed terms with the Teachers Provident Society, which trades as Teachers Assurance to take over the majority of its business, due to be completed in early 2016.
Aviva and Friends Life are to merge in a deal worth £5.6bn.
Ageas has put a strong first quarter down to acquisition of Groupama Insurances, with business results showing a rise in profits.
The Permanent Health Company (PHC) has sought to reassure advisers' and quell concerns that its new five year underwriting deal with Axa PPP will eventually result in a takeover.
The international private medical insurance (IPMI) market could be subject of a series of mergers and acquisitions between providers, according to one insurer in the sector.
The leaders of the British Brokers' Association and the Institute of Insurance Brokers have this morning announced a "momentous" merger agreement in a bid to produce a combined stance on future regulatory changes.
Royal Bank of Scotland (RBS) has been offered £4bn for its insurance arm by private equity group CVC Capital Partners.
Simplyhealth's purchase of Groupama has been delayed due to the volume of work currently being imposed upon the FSA and legal system.
Cigna has reached a deal to buy protection and travel insurance provider FirstAssist with the aim of growing its UK presence.
Following a dive in its share value, Aviva could be exposed to a takeover bid from rival insurer Zurich, reports suggest.