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Advice business models stifling annuity take up: Study
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Global life insurers impose restrictions, worried about long-term pandemic risks

Global life insurers impose restrictions, worried about long-term pandemic risks
Jan. 28
05:44 am JST
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UPDATE 1-Allstate to sell most of life insurance unit to Blackstone for $2.8 bln

Allstate Corporation said on Tuesday it had agreed to sell most of its life insurance business to entities managed by buyout firm Blackstone Group Inc for $2.8 billion. ....

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Allstate to sell most of life insurance unit to Blackstone for $2.8 billion

By Reuters Staff
2 Min Read
(Reuters) - Allstate Corporation said on Tuesday it had agreed to sell most of its life insurance business to entities managed by buyout firm Blackstone Group Inc for $2.8 billion.
The deal comes as global life insurers are taking steps to curb payouts stemming from the COVID-19 pandemic, including long-term health consequences that are not fully understood.
In the United States, 8% of reported group life insurance claims from April to August attributed the cause of death to COVID-19, according to the U.S. Society of Actuaries.
“Allstate is deploying capital out of lower growth and return businesses while continuing to execute our strategy to grow market share in personal property-liability,” Chief Executive Officer Tom Wilson said. ....

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Global life insurers impose Covid-19 restrictions, worried about long-term risks

Prudential Financial and Aviva, for example, are imposing waiting periods before Covid-19 patients, including those who have recovered, can apply for coverage.. Read more at straitstimes.com. ....

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