Wednesday, May 23, 2018

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ICBC-AXA Life to set up asset management arm

ICBC-AXA Life to set up asset management arm

The move comes after Xi Jinping’s call to further open China’s insurance sector at the Boao Forum last month.

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Asean discussing catastrophe risk pool

Asean discussing catastrophe risk pool

The facility will initially focus on Cambodia, Laos and Myanmar, but could expand to other countries.

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Korea sets up committee for insurance, banking licences

Korea sets up committee for insurance, banking licences

The FSC is also considering lowering capital requirements for financial businesses.

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Non-life market in China faces tough conditions

Non-life market in China faces tough conditions

The outlook is negative, but market conditions are expected to get better in the near term.

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Chinese solvency ratios improving amid crackdown

Chinese solvency ratios improving amid crackdown

The recent campaign to strengthen regulations in China is beginning to show benefits, says Moody’s.

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India names new regulatory head

India names new regulatory head

Subhash Chandra Khuntia will be the new chairman for the Insurance Regulatory and Development Authority of India.

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Korean insurers overseas losses decrease

Korean insurers overseas losses decrease

Overseas branches reported a combined net loss of US$23.2m in 2017, compared with $70.3m in 2016.

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MetLife’s chief financial officer steps down

MetLife’s chief financial officer steps down

John Hele is expected to stay with the insurer until September as a senior adviser.

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Pru Life signs Philippines bancassurance deal

Pru Life signs Philippines bancassurance deal

Regulators have given the green light for the proposed bancassurance tie-up with Robinsons Bank.

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Max Life, Exide Life join bidding fray for IDBI Federal Life

Max Life, Exide Life join bidding fray for IDBI Federal Life

Shareholders will carry out a detailed evaluation of shortlisted bidders over the next couple of weeks.

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Private equity firm bids for Royal Sundaram

Private equity firm bids for Royal Sundaram

True North and its global sponsors have made a rumoured US$400m bid for a 40% stake.

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Taikang Life backs Baidu’s new brand

Taikang Life backs Baidu’s new brand

The Chinese insurer is among a string of investors in Du Xiaoman, a fintech unit being spun off by the internet giant.

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Willis to benefit from Chinese licence

Willis to benefit from Chinese licence

It is the first wholly foreign-owned broker to be able to operate like an equivalent Chinese firm.

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Zurich discussing US$100m IPO of Malaysian life unit

Zurich discussing US$100m IPO of Malaysian life unit

The Swiss insurer may opt to comply with 30% local ownership rule through an initial public offering.

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China Life’s net profit more than doubles

China Life’s net profit more than doubles

The improvement was due to updated discount rate assumption of reserves for traditional insurance contracts.

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Japan to partner with SEA nations on disaster insurance

Japan to partner with SEA nations on disaster insurance

The South-East Asia Disaster Risk Insurance Facility will make recovery funds immediately available.

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Catastrophe losses will hit US$160bn a year in Asia by 2030

Catastrophe losses will hit US$160bn a year in Asia by 2030

Losses arising from natural disasters in the region are increasing, but only 8% are covered by insurance.

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Taikang invests in Chinese biologics startup

Taikang invests in Chinese biologics startup

The Chinese insurer has taken part in a US$150 million funding round for Innovent Biologics.

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