SWITZERLAND - Zurich Financial Services Group has completed the sale of parts of its Dutch operations to SNS Reaal Groep for an undisclosed sum.
The move is part of Zurich’s bid to streamline its operations and focus on core competencies.
The transaction was initially announced in May.
SNS Reaal has acquired all of Zurich’s life operations and non-life operations in the consumer and small business segments in the Netherlands.
Zurich will continue to serve the non-life corporate business customers in the Netherlands through its business unit Continental Europe Corporate (CEC).
*Zurich Financial Services has also divested Zurich Life to Swiss Re for US$460m.
The Department for Work and Pensions (DWP) will develop and test new ways to include 4.8 million self-employed workers in pension savings.
Opt-out rates at the end of June 2018 "remained consistent" with levels before the April contribution rate increase, according the Department for Work and Pensions (DWP).
The Pensions Regulator (TPR) has appointed Charles Counsell as its new chief executive, who will take over from Lesley Titcomb next year.
The Financial Reporting Council (FRC) should be abolished and audit and advisory businesses should be split into separate entities to improve the sector for both savers and investors, two reports published today say.