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Tarp cash for Lincoln National and Hartford

Lincoln National and The Hartford have become the first life insurers to take public funds under the US government’s troubled asset relief programme.

The Hartford will accept £2.07bn from the scheme and Lincoln has signed up for £578m through Tarp.

The Hartford, which said in May it is suspending all sales in the UK and de-risking many of its US offerings after a £818m loss in the first quarter, is also aiming to raise £455m in share sales.

Lincoln is looking to raise £1.2bn. The company sold it UK operations, as revealed by moneymarketing.co.uk last week, to Canadian insurer Sun Life for £195m, and the group also wants to raise around £427m through issuing new debt and shares.

The two companies, which have banking subsidiaries in the US, are two of six firms approved for capital injections by the US government last month as policymakers are reportedly paying increasing attention to the North American life sector.

Lincoln has moved to assure advisers it will continue to promote its products i2Live, Financial Foundations, Financial Protection and its unit trust range. It also aims to maintain service levels after the acquisition despite taking on the Sun Life Financial of Canada brand.

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In Focus — May 2015: private medical insurance market in Germany

Welcome to the latest edition of In Focus. In this issue, Jelf examines the private medical insurance market for employers with expatriate workforces in Germany. This includes the common challenges faced in sourcing appropriate coverage, along with a selection of available solutions. This will be of particular interest to HR/reward decision makers with employees based in Germany. It will assess the cultural norms, risks and backdrop that are relevant to organisations with expatriate staff in this location.

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