Swiss Life CEO hints acquisitions

Article Abstract:

Swiss Life Chief Executive Manfred Zobl hinted that the company plans to use acquisitions to build up its position in Europe. The largest life insurance company in Switzerland sees major growth potentials in the highly disintegrated retirement-plans business in the UK and Germany, as well as medium-to-long-term growth potentials in Spain and Italy. Zobl refused to give statements on speculations that Swiss Life is eyeing UK-based National Providential as a takeover target and stated that there is an absolute possibility that the company's joint venture with UBS AG would be terminated.

Comment:

Co's Chief Executive Manfred Zobl hints that the company plans to use acquisitions to build up its position in Europe

Switzerland, Executive changes & profiles, Swiss Life

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Irish Life sees no place like home for growth

Article Abstract:

Irish Life PLC is planning to transform its Irish-based operations into a financial-services entity that will focus on the personal-insurance market in Ireland. The firm intends to create a financial-services concern that will specialize on the distribution of life, pension and investment products. According to Managing Director David Went, the firm will make the improvements because doing so will add value to its shareholders. Moreover, enhancing its Irish-based services will hasten the growth that it anticipates to achieve from its operations in Ireland.

Comment:

Is planning to make its Irish-based operations into a financial-svcs entity that will focus on personal-insur market in Ireland

Strategy & planning, Ireland, Irish Life PLC

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Prudential of U.K. to cut 4,000 jobs

Article Abstract:

Prudential Corp. PLC announced that it was planning to downsize up to 4,000 jobs. This comes out to 20% of the company's British labor force, which consists of 19,000 employees. The job cuts are scheduled to take place over a period of three years. Prudential is attempting to remake itself into a high-end company that provides financial services. The company believes that the job cuts will help it to save almost 200 million pound sterling a year.

Comment:

Planning to downsize up to 4,000 jobs

United Kingdom, Labor force information, Human resource management, Insurance industry, Life insurance industry, Prudential Corporation PLC

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