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Cigna raises stake in India JV

Cigna raises stake in India JV

An application with the regulator will increase its stake in the joint venture with TTK to 49% from 26%.

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Foreign insurers in Malaysia pressured to trim shareholdings

Foreign insurers in Malaysia pressured to trim shareholdings

Four companies have until the end of this month to reduce their holdings and divest to local partners in line with new regulations.

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Allianz posts strong earnings growth in Asia

Allianz posts strong earnings growth in Asia

First-half results for the Asia business showed total revenues up 40% to €2.9bn and operating profit up 12% to €150m.

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QBE puts emerging markets business under review

QBE puts emerging markets business under review

Operations in Thailand and Colombia face closure after poor results led investors to question strategy.

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AIG selling US$2bn life settlements portfolio

AIG selling US$2bn life settlements portfolio

The insurer is reportedly working with investment bankers from Goldman Sachs to unload the assets.

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Euler Hermes names senior executives to lead expansion

Euler Hermes names senior executives to lead expansion

The trade credit insurer has appointed Clemens Philippi as CEO for Asean and Benoit Ganzmann as CEO for China.

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Harness captives responsibly, says Bank Negara governor

Harness captives responsibly, says Bank Negara governor

Muhammad Ibrahim said captives must be seen as supporting and contributing to broader economic transformation and growth.

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Korean insurers post 28.3% profit rise

Korean insurers post 28.3% profit rise

Results for the first half of this year reflect robust dividend income growth and a drop in the loss ratio, said the FSS.

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AXA appoints new CEO for Singapore unit

AXA appoints new CEO for Singapore unit

Jean Drouffe takes over the reins from Doina Palici-Chebab, who has been promoted to the position of interim regional CEO of AXA Asia.

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MS&AD to spend US$401m for stake in Challenger

MS&AD to spend US$401m for stake in Challenger

The Japanese group will acquire a 6%-plus interest in the leading player in Australia’s superannuation industry.

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Philippines tests parametric scheme for disaster-prone provinces

Philippines tests parametric scheme for disaster-prone provinces

The government has allocated US$20m to a pilot project that will offer quick-disbursing payouts based on a catastrophe model.

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Asian insurance sector’s embedded value up 15.3%

Asian insurance sector’s embedded value up 15.3%

China and Hong Kong seen as the main drivers, according to a survey from global consulting firm Milliman.

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Reliance General Insurance to sell 10% stake through IPO

Reliance General Insurance to sell 10% stake through IPO

The Reliance Capital unit is the fourth general insurer in India to have announced its intention to list.

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Premiums of India’s non-life insurers up 9%

Premiums of India’s non-life insurers up 9%

The total surged to Rs97.91 billion (US$1.52 billion) in July, according to data from the insurance regulator released recently.

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Ping An to invest $1bn in tech R&D

Ping An to invest $1bn in tech R&D

The group will invest more on tech research and development this year, particularly in the field of artificial intelligence.

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Samsung Life posts 26% profit growth

Samsung Life posts 26% profit growth

The insurer added that its value of new business was W598.3 billion, up 6.5% over the same period.

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Japan’s major life groups post weaker revenues

Japan’s major life groups post weaker revenues

A decline in premium income dragged down revenues of six of the country’s seven leading life groups.

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Asia suffers US$10bn catastrophe losses in six weeks

Asia suffers US$10bn catastrophe losses in six weeks

The losses were recorded in July alone due to severe flooding, a catastrophe report from Aon says.

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Sinead Browne, Allianz Global Corporate & Specialty

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SUMMER 2017

House of cards

From supply chains to cyber, we discuss emerging risks with a roundtable of Singapore risk managers