Canadian insurer expands further in the Emerald Isle
Winnipeg-based Great-West Lifeco is expanding its operations in the Republic of Ireland with the acquisition of two insurers. Great-West’s subsidiary Irish Life Group Ltd. will acquire the health insurance company
Aviva Health and also increase its 49 per cent stake in GloHealth to 100 per cent. It intends to combine the two businesses to create one of Ireland’s leading health insurance companies.
The acquisitions are expected to be completed in the third quarter of 2016. The deals are subject to regulatory approval. Great-West says that the plan will give the company around 400,000 customers in Ireland who will benefit from the parent firm’s global expertise and the Canadian health insurance division in particular.
Insurer finds little support for clock changes
A poll by PEMCO Insurance Northwest reveals that there is little support for the annual shift to daylight saving time in the region. Just 1 in 5 respondents supports the time change with 64 per cent preferring to stay on one time year-round. Most of those (39 per cent) would opt for standard time but 25 per cent want the lighter evenings and would prefer to stick with DST permanently.
For insurers there could be benefits of scrapping daylight saving; a report in the Journal of Applied Psychology in 2009 found that workers were more likely to be involved in an accident in the Monday following the change to DST due to losing an hour’s sleep and in 2014 a study at the University of Colorado found that fatal motor accidents increase during the DST months.
Five new VP’s for Pacific Life
Pacific Life Insurance Company of California has appointed five new vice presidents:
- Frank Boynton to vice president, Operations, Retirement Solutions Division
- Donna Burton to vice president, Human Resources-Total Rewards, Corporate Division
- Chris Dallas to vice president, Investment Counsel, Corporate Division
- Darlene Goodwin to vice president, Application Services, Corporate Division
- Bradley Sherrell to vice president, Technology Office, Life Insurance Division
The appointments are effective April 1 2016.
