HM Treasury has named Sam Woods as deputy governor for prudential regulation and chief executive of the Prudential Regulation Authority, effective 1 July.

Dutch-headquartered life group Aegon is selling two-thirds of its UK annuity book to insurer Rothesay Life.

The US Treasury has confirmed that it will appeal a federal court judgment that insurer MetLife is not a systemically important financial institutions (Sifi) and therefore should not face tougher regulatory oversight.

This week, Swiss Re, in a Sigma report, estimated that insured global losses from natural and man-made catastrophes came to $37bn last year, compared to a 10-year average of $62bn, representing 40% of total economic losses.

British annuity providers Just Retirement and Partnership Assurance have completed a £1.4bn ($2bn, €1.8bn) merger which saw it relaunch on the London Stock Exchange Monday as JRP Group.

US-based life insurance company MetLife saw its share price rise 5% after a judge ruled that the government’s decision to label it a systemically important financial institution (SIFI) be withdrawn.