Keep up to date with the latest actuarial and finance news in our weekly round-up…

 

FTSE 100 drops, midcaps advance on Brexit day

London’s FTSE 100 slipped on Friday as coronavirus fears intensified and a firmer pound dragged exporter shares lower, while Aston Martin drove the midcaps higher, hours before Britain leaves the European Union.

Prudential appoints former government minister Baroness Vadera as new chair

Insurer Prudential said it had appointed former banker and government minister baroness Shriti Vadera to chair its business.

Lloyds pension schemes agree £10bn longevity swap

The UK’s second-largest longevity swap ever has been completed after Lloyds Banking Group Pensions Trustees Limited agreed a £10bn transaction with Pacific Life Re.

Minority ethnic pensioners ‘24% worse off” than white pensioners

The average total pension received by a minority ethnic woman is 51% less than that of a typical white older man, according to a report that highlights “large inequalities” in UK retirement incomes.

Insurtech investment soared to $6bn in 2019, says Willis Towers Watson

The insurtech sector received $6.37 billion in investments throughout 2019, with nearly $2 billion of that figure coming from the fourth quarter alone, a Willis Towers Watson report has found.

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