NEW YORK (Dow Jones)–Sales at the international life insurance unit that American International Group Inc. (AIG) is selling to Prudential Group Plc (PRU.LN, PUK) jumped more than 40% in Singapore and Thailand in the first quarter. The unit, AIA Group Ltd., had an overall increase in sales of 16% in the three months ended Feb. [...]
Market regulator Securities and Exchange Board of India (SEBI) barred the launch of new unit-linked insurance plans (ULIPs) by 14 life Insurance companies until they seek permission from the Insurance Regulatory and development authority (IRDA). However, the order will not apply to existing ULIPs, SEBI said. On April 10, SEBI had banned the 14 insurance [...]
March 8 (Bloomberg) — A Californian dissatisfied over the performance of his variable universal life insurance policy was arrested for attempting to extort his insurer by threatening to transmit computer spam critical of the company.
LONDON (Dow Jones)–U.K. insurer Prudential PLC (PRU.LN) said Monday that it plans to list on the Hong Kong Stock Exchange before it launches in May a $20 billion rights issue needed to help fund its acquisition of AIA Group Ltd, the Asian life-insurance business of debt-laden American International Group Inc. (AIG).
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