Life insurance

A list with the names of about 100 global investors has been shared with the 10 banks working on the deal and the institutions will approach different sets of investors, according to people with knowledge of the matter who asked not to be named as discussions are private.

The funding round was led by AIA Insurance Inc. as Tiki looks to expand into life insurance and plans a U.S. initial public offering.

In other news: AgentSync acquires Finvera; Cart.com teams up with Extend; SkyWatch launches usage-based insurance with Global Aerospace.

China Life Insurance Co. posted a drop in third-quarter profit as a slowing economy weighed on the nation’s largest life insurer.

In other news: Zurich releases cyber risk survey results; Hertz and Uber to add 50,000 Teslas to network; Amica selects Shift Technology.

About four in 10 executives cited technology as their company’s greatest challenge, twice as many as in 2019, according to a new survey from LIMRA and Boston Consulting Group.

The change is effective Jan. 1, when Lyons will move to the newly created role of executive vice president, global chief actuary and head of portfolio management, the New York-based insurer said in a statement Monday.

Life insurers are warning Chile that they may have their day in court if a bill that allows people to demand early annuity payments is passed into law.

Digital Insurance spoke with Maroun Mourad, president of global underwriting and leader of the life unit at Verisk about life insurance technology and what’s ahead for the industry.

This year’s 40% stock dive has cut its price-to-earnings ratio to just above 6, slightly more than the Shanghai Stock Exchange Property Index’s multiple of 5.7 and a far cry from the 20-plus commanded by insurance peers Berkshire Hathaway Inc. and AIA Group Ltd.