UK Pension : Private sector final salary liabilities hit £1.2 trillion
Pension liabilities for UK private sector final salary pension schemes have hit the £1.2 trillion (£1,200,000,000,000) landmark as market conditions continue to deteriorate for UK final salary pension schemes. The Aon200 index, which tracks approximately half of the UK’s private sector pension scheme liabilities shows liabilities of £608bn with assets making modest gains, but falling short by £97bn. Market conditions have never been tougher, according to Aon Consulting, the leading employee benefits and risk management firm. The total private... Lire la suite
Reinsurance : Global Competition Intensifies, Rating Outlook Stable
Fitch Ratings says today that it expects competition to intensify in the global reinsurance industry, leading to pressure on earnings, as reinsurance has proved to be one of the most resilient of all insurance sectors through the financial crisis. Fitch’s rating Outlook for the global reinsurance industry remains Stable. The Stable Outlook is based on Fitch’s view that the key challenges facing reinsurers are unlikely to impede the stability of earnings and current strong levels of capitalisation for the majority of reinsurers over the... Lire la suite
Life insurance : Three out of ten American families have no policy
Despite the fact that most American families have less to fall back on financially than when the economic downturn began, ownership of individual life insurance has hit a 50-year low, according to a new LIMRA study. The Trends in Life Insurance Ownership study, conducted every six years by LIMRA, found that only 44 percent of U.S. households have individual life insurance. The number of U.S. households that have no life insurance whatsoever is growing. Today, 30 percent of households (35 million) have no life insurance coverage, compared to 22 percent... Lire la suite
Blue Cross and Blue Shield : Insurance surpluses don’t avoid rate raises
Surplus reserves held by Blue Cross and Blue Shield have not stopped the company from asking for rate hikes, a Consumers Union study found. The reserves are critical for ensuring claims can be covered, spokesmen for the non-profit company said. But the reserves held by several Blue Cross and Blue Shield branches far exceed the amount regulators stipulate the insurer must have, USA Today reported Thursday. While premiums were raised as high as 18 percent in 2009 by Blue Cross Blue Shield of Arizona the firm held onto a surplus of $717.1 million,... Lire la suite
Alternative forms of remuneration reflexions by Aon
Aon Corporation announced it is working with markets to explore the various forms of alternative remuneration available to Aon. “As we stated during testimony delivered in July 2008 to the New York State Insurance Department and Office of the Attorney General, Aon is committed to industry-leading transparency and delivering the highest value for price in the industry on behalf of our clients,” said Steve McGill, chairman and chief executive officer of Aon Risk Solutions. “We have conducted a great deal of research around broker compensation... Lire la suite
