Of Special Interest
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- The Global Insurance Week
- Three parties interested in RBS branches
- Creating an environment for improving and widening decision making
- "It's All About the Customer" the theme for the latest IBM/Shillito white paper
- Big UK retail bank brands lose market share
- Survey indicates state of ERM development amongst insurers globally
- RBS branches and portfolio back on market
- Capgemini World Insurance Report focuses on the customer experience and emerging distribution channels
- Xuber keeps in the headlines
- The Liikanen banking reform proposals
- EIOPA launches technical assessment of Solvency II long-term guarantee package
- EIU/BNY Mellon report highlights global issues for insurers
- FIS PayNet, a new global real-time payment network
- Report looks at two issues facing insurer CEOs globally
- Spanish Bank stress test detail
- EIOPA publishes Opinion on Solvency II interim measures
- The Global Insurance Week
- Report reviews priorities for US p&c insurers in 2013
- EIOPA publishes latest financial stability report
- Swiss Re study reviews global market prospects for 2013
- EIOPA exploring possibility of interim stage for Solvency II
- Carney named as new Bank of England governor
- Survey indicates insurer progress on Solvency II
- FSA publishes Journey to the FCA paper
- Bancassurer Basel III workaround
- Sukuk to grow 3 fold in 5 years forecast
- Global Federation of Insurance Associations formed
- RBS not selling Citizens
- Australian court finds S&P 'not reasonably competent'
- OFT refers UK motor insurance market for review by Competition Commission
- Solvency II delay now seems inevitable
- Lloyds & RBS non-core disposal figures
- Prudential survey indicates changing UK customer choice of advice approach
- India and Pakistan said to licence each others banks
- Keeping up with regulatory change in UK financial services an increasing overhead
- Men prefer telematics more than women says survey
- Visa cardholders spend $1.4bn in UK during Olympics
- HSBC - Gulliver's position untenable?
- UOB end of era as Wee Cho Yaw retires
- Libor, the BBA and Thomson Reuters
- Google Wallet MkII works with any card
- IAIS releases paper on Reinsurance and Financial Stability
- Twitter stock symbol search
- Upcoming financial regulatory structure in UK gets cool reception
- End for Dun & Bradstreet?
- ACORD sponsored survey looks at the growing importance of analytics
- European banks carrying €1.5tr of non-performing loans
- Spanish NPA close to double figures
- Leading insurer ceos give views on market challenges
- Sandy Weill : Bring back Glass Steagall
- Inaugural Credit Agricole Public Sector covered bond
- EIOPA publishes final draft guidelines for ORSA
- Bank of China chairman speaks on international expansion
- UK - decline of the residential mortgage
- EIOPA publishes final report on Solvency II reporting but....
- US insurer priorities reviewed in survey
- HSBC and ignored money laundering warnings
- IAIS releases latest draft for supervision of international insurers
- Barclays persistent and organised Libor manipulation
- Sainsbury joins cash-back credit card battle
- 51% of insurers changing measurement of capital adequacy under Solvency II says survey
- EIOPA says majority of European insurers well capitalised but...
- IBM, Analytics, social media and financial services
- 80% Of Goldman growth will arise from BRIC nations
- BlackRock forecasts Greek loan writeoff at €30bn
- Europe to lead on telematics says report
- New UK regulator suggests ending 'free' banking
- Geneva Association reports on global ageing issues and the role of insurance
- Report highlights action being taken by UK insurers in readiness for Solvency II
- UK personal lines insurers provide poor online user experience says survey
- Spanish bank plan
- Significance of the JPM trading losses
- European insurers must move from risk measurement to real risk management to achieve a return on Solvency II investment says report
- Solvency II survey indicates UK insurers have still much to do-majority say start date will be delayed
- Study predicts telematics take off in UK
- OCBC ranked strongest bank in world - again
- WiproTechnologies-on the global insurance stage
- QlikTech-placing agile analytics in the hands of the business user
- Accenture and Duck Creek solutions together add value
- Blankfein PR offensive
- JPM prepaid card bank account a trend-setter
- Lloyds sell branches for give-away price
- MySlipcase insurance networking platform launched in London
- Estimate of additional Spanish bank capital needed
- First US approval for Chinese bank purchase
- The Met Office says Atlantic hurricane fluctuations connected to industrial air pollution
- Most of UK life insurers sheltered from eurozone sovereign debt crisis says Fitch
- US ExPats giving up nationality to save tax
- Telematics statistics indicate further good news
- Telematics growing in interest in UK amongst consumers says survey
- UBS clients use iPad to design trading algorithms
- CHARGE Anywhere NFC card acceptance via BlackBerry
- Engagement Banking
- Global insurer IT spend to increase after decline says report
- PayTag turns any mobile into contactless pay device
- Geneva Association reviews catastrophic year and looks forward
- Solvency II goes too far says survey
- Ringfencing clarification before Santander UK IPO
- Policy administration modernisation is next priority says survey
- SWIFT launches Sanctions Screening
- BoE governor UK speaks of financial stability tools 'experiment'
- Insurers falling behind other sectors in customer service says survey
- SWIFT guide on moving to Sepa
- Big Banks need $566bn to meet Basel III
- Global ceo survey indicates key reasons for growth being held back
- EIOPA issues 2012 Action Plan for Colleges of Supervisors
- BRIC countries boost bank business lending - G8 lowers it
- European regulator warns politicians on Solvency II potential delay
- PayPal phone to card acceptance device converter
- The MGAA-providing timely support for UK underwriting agencies
- Insurers could look towards alternative asset classes because of Solvency II says survey
- HSBC retail may operate in 9 Asian countries only
- Difficult decisions ahead for European insurers says Ernst & Young report
- 2012 US Auto Claims Satisfaction study published
- S&P maintains stable outlook on reinsurance market
- IBM / Citigroup deal to use IBM Watson
- BTG Pactual listing will be one of largest
- Deloitte publishes 2012 Global Insurance Outlook report
- Local support for Thailand Catastrophe Fund plan
- No payout on Greek CDS - official - challenge possible
- World Economic Forum Global Risks 2012 report published
- Treasury Committee motor insurance report creates comment
- Ernst & Young outlines five success strategies for US p&c insurers
- Sarasin sells NZB stake back to NZB
- Swiss Re sigma study reviews catastrophe costs
- Fitch predicts future trend for US broker market
- Barclays banking complaints down - PPI UP
- O2 / Telefónica UK mobile wallet launch
- Aon Benfield publishes report on China p&c and reinsurance market
- US life industry faces challenges says report
- SWIFT launches financial research institute
- Only 20% of actuaries and insurance finance managers completely confident in data control processes and spreadsheets says research
- Vodafone - Visa announce global mobile wallet
- Swiss Re predicts bluer skies from 2013
- More on Telefónica and MasterCard LatAm JV
- LIMRA reviews US consumer life insurance buying trends
- Sovereign bonds revised capital risk charges unlikely to be incorporated in Solvency II in near term says Fitch
- A.M.Best stress tests insurers exposure to eurozone debt
- BBVA-Google first combined forecasts
- SEPA payments date set as 1st February 2014
- Gibraltar plan to attract more funds
- S & P highlights regulatory change for UK life insurers presents challenges but there are long term opportunities
- Report finds women bankers bigger risk takers
- UK banks could still end up paying some FTT
- Global survey reveals insurers could improve services to customers
- EBA says vast majority of bank capital raising plans OK
- Defaqto survey indicates vital role of financial advisers
- UK insurers need to place more emphasis on product features says report
- Social Media to inpact insurance market says report
- Only 48% of UK and US consumers trust their insurance provider says survey
- Norton Rose reviews financial institutions globally
- Fed to review foreign bank capital rules
- Guy Carpenter reviews Asia Pacific catastrophe scenario
- Total loss customer satisfaction lower says US auto insurance study
- CEA opposes US bills relating to taxing of foreign insurers
- Spanish plan for bank asset write-downs
- Digital cash for the digital wallet
- SunTrust acquires FirstAgain for loan platform
- FIS announces POS mobile wallet
- Half of Visa Europe transactions on mobile by 2020
- VeriFone unveils suite for MNOs to manage mobile wallet acceptance
- BBVA and Google try to improve forecasting for clients
- Plan proceeding for 70-75% writedown on Greek debt?
- Geneva Association reviews three key issues for the global insurance industry
- Google to offer real time UK stock prices
- IBM Joins Bank Information Architecture Network
- Project Merlin 'success' as UK banks reduce lending to business
- No delay on Basel III liquidity - peer review introduced
- EIOPA issues financial stability report
- Itaú Unibanco Latin America expansion
- Reawakening ATM standard cassette initiative
- Swiss National Bank president controversy
- Weglin & Co branded 'fugitive' by US prosecutors
- Swiss Re reviews emerging markets
- IBM 10 year infrastructure deal with La Caixa
- MontePaschi new boss
- Nigerian mobile money licences
- eBay acquires German BillSAFE
- No challenge by Deutsche and NYSE Euronext to merger block
- Own Debt fair value excluded from CT1 capital proposal
- IBM help for Kenyan banking
- Monitise and FIS strategic partnership
- State Street exits UK & German bonds
- PayPal to join discount coupon bandwagon
- WestImmo sale collapses - more jobs go at WestLB
- Long term investment move away from Equities
- NBNK may bid for Yorkshire & Clydesdale
- Visa prepaid gift cards dispensed via ATM
- Sharia compliant Buy to Let Purchase Plan
- Sabadell buys CAM, losses guaranteed
- HSBC major regulatory failure at NHFA
- Two major solar power financing deals in the US
- 4 bids possible for RBS Aviation
- Takefuji restructure plan in doubt
- Raiffeisen told to consider dual-listing
- Hedge fund chief backs Financial Transaction Tax
- LME bidding process underway
- PayPal 6 fold increase in mobile payments over Thanksgiving
- Women are greater online fraud risk claim
- Survey indicates major issues for London Market players
- Deutsche Bank Asset Management part sale?
- Social media central to SunGards mobile platform
- Government the loser when Lloyds accepted Co-op bid?
- Google Wallet boost from Checkout
- UK government confirms retail bank capital ringfencing
- EU fundamental look at bank structure and regulation
- Deutsche Borse / NYSE derivatives proposal
- Buffet sees value in financial services stock prices
- New UBS CEO halves investment banking - sets financial targets
- Commonwealth Bank major ATM contract
- Visa Digital wallet branded V.Me
- Barclays insurance deals with Aviva and Legal & General
- Bank of Ireland cautiously optimistic trading statement
- Volcker rule too complicated
- Indian bad debts rise by one third in 12 months
- Dodd Frank cheat sheet
- Ermotti to be made permanent UBS CEO this week?
- simplytap - mobile purchase by entering just 2 codes
- SocGen creating UK online bank using Selftrade
- Credit Agricole and impact of Greece and Italy
- Visa Europe and FIS take stake in Monitise
- Banks and the Euro crisis deal
- Bidding warms up for Sarasin stake
- BNP Paribas profit drop on sovereign debt writeoff
- RDT spreads its wings
- Google wallet open for all banks
- Coutts branding
- MF Global Files for Chapter 11 protection
- JPMorgan Q3 profit down a little
- Fitch reviews UK life sector
- Mobile banking software ranked
- UK websites compared for speed and how it affects purchase
- HSBC Trinkaus drops talks for WestLB units
- More Brits use online banking than use Facebook or Tweet
- NBNK, Virgin and Flowers bid for Northern Rock
- The mobile wallet reaches Papua New Guinea
- Barclays bid for CAM - looking for other Cajas?
- NBNK only bidder to meet deadline for Lloyds branches
- Fusion-io speeds up Deutsche credit risk calculation
- Visa Europe mobile wallet coming next year.
- Capital One social gaming spend
- Western Union result
- Google Wallet live in US
- MasterCard certification for 2 Blackberry NFC phones
- Rabobank in talks to sell stake in Sarasin
- Santander can exceed 9% CT1 ratio without going to market
- UBS rogue trading - story so far
- John Mack retires at year end from Morgan Stanley
- M-Pesa now serving 70% of Kenyan adults
- Chi-X Australia to launch October 31st
- Future of UK retail banking final report
- PayPal's rapid growth helped by mobile
- Egypts first major M&A deal since revolution
- Julius Baer / Macquarie strategic alliance
- NBNK confirms talks - shares suspended
- UBS heads roll - rogue trading warnings ignored
- NBNK to buy Lloyds branches, Clydesdale & Yorkshire banks?
- LSE to buy LCH.Clearnet?
- Spain nationalises three more Cajas
- Many interested in London Metals Exchange
- Visa Europe mobile P2P service
- Mobile Payments for Goods to exceed $170bn by 2015
- Monitise granted Nigerian Mobile Payment licence
- Debit card fees may change mpayments and lose banks money
- Banks must work harder to attract 'Facebook Generation'
- Banks borrowed $1.2tr of secret US federal funds
- Sergio Ermotti appointed interim UBS CEO
- HSBC T&B bidding for parts of WestLB
- China Investment Corporation seeks UK bank investment
- India Post-bank soon?
- RBS bigger loss - underlying progress
- Swiss / German withholding tax - template for future?
- Visa to chip its cards in the US
- US finally pushed towards EMV cards
- Elavon to accept China Unionpay cards
- HSBC - expense cuts not straight to the bottom line
- UBS rogue trader losses approx $2bn
- Moody's AAA for Footballer Ronaldo as collateral
- Hugh Osmond is 3rd bidder for Lloyds branches
- HSBC selling non-life insurance businesses
- Berchtold & Meister to head Credit Suisse Private Banking
- TStone & Flowers joint bid for Woori?
- UK banks retail ombudsman complaints
- UK banks retail market share
- New CEOs and Chairman at Deutsche Bank
- French banks and commercial wholesale funding
- VITAband wristband - the future of contactless payment?
- Bank governance changes required
- The lesson from the European stress test.
- New shape of HSH Nordbank
- UK considering 3X greater liquidity levels for banks
- RBS banking customer complaints INCREASE 40%
- Friday night is European stress test result night
- ABN in profit and more expense cuts
- IMF Chief in controversial boost bank capital call
- Pay for Android Apps on your Vodafone Bill
- PayPal buys Zong
- Worth reading report on mobile payments
- Boku consolidates in French mobile payment
- Standard Chartered seeking controlling share of Warka Bank
- UK Credit card fraud at 10 year low
- Fed generous to card issuers on Durbin cap
- Delay for UK bank ring fencing rumoured
- Visa - ditching the card for the phone?
- Capital One purchase of HSBC US Card business
- StanChart yet again reports record profits
- Mobile commerce grows fast in UK & Germany
- HSBC profits up on lower tax and lower losses
- Estimates of SIFI capital surcharges applied by bank
- Bank of America needs $50bn additional capital
- Helaba says has withdrawn from European stress test
- French banks most exposed to Italian sovereign debt
- Another bank onshores call centre
- NYSE Euronext shareholders approve Deutsche Borse deal
- Bank of America sells Balboa Life
- Horta-Osorio manifesto for Lloyds Banking
- Fiserv buys CashEdge
- Mood music for LSE / Nasdaq merger?
- UK mobile operators group form another new NFC joint venture
- Capital One wins bidding for ING Direct USA
- US prepaid card usage may approach $500bn this year
8th July 2011
Bank of America sells Balboa Life
Securian is to buy Balboa Life Co and Balboa Life insurance co of New York from Bank of America. No financials were disclosed in a brief after hours statement on Thursday other than Bank of America expects to book a $750m pre-tax profit from the sale which is to be included in the second quarter results. Earlier this year BoA sold the credit insurance division of Balboa to QBE for $700m.
Bank of America has been disposing of non core businesses. The bank is facing litigation on several fronts and will have to pay out many billions of dollars. Any sales at this time are therefore particularly welcome.
