Evergreen’s planned rescue of the embattled Bumiputera has failed after disagreements over funds.
Indonesia
The domestic insurance market is valued at just 2.99% of the country’s gross domestic product, says OJK.
The three billion-dollar startups are looking to invest in PasarPolis, an online insurance portal.
The Indonesian bank’s insurance subsidiary is attracting interest from foreign investors.
The insurer’s goals include becoming one of the 10 biggest insurers in Indonesia within the next five years.
At 3.49%, insurance buying in the country is up significantly from 2.7% in 2001, though still lags China.
The South-East Asian financial technology startup has said that insurance will account for up to 30% of its growth.
CBA eyes selling stake in Indonesian venture
January 15
The sale of a majority stake in Commonwealth Life could value the insurer at up to US$250m.
This year marks the first time since 1993 that Vietnam has had a season with a Cat 2 and 3 typhoon landfall.
The business has started operations in Beijing and Jakarta to meet growing demand in the corporate insurance segment.
Maybank’s wholly-owned insurance arm has completed its acquisition of Asuransi Asoka Mas for US$15.35m.
DBS and Chubb ink 15-year regional distribution deal
September 29
The bancassurance agreement covers five markets: Singapore, Hong Kong, Taiwan, Indonesia and China.
Businesses in the region are ill-equipped against and not covered for cyber attacks, says QBE survey.
The US-based insurer has bought a 49% stake in Asuransi Jiwa Mega Indonesia, a subsidiary of CT Corp.
The rating agency forecasts significant benefits from recent positive economic developments.
Premium income expanded 25.5% thanks to the popularity of unit-linked and traditional insurance products.
Data released by the OJK shows that life insurers enjoyed solid premium growth in the first three months of this year.
Randy Lianggara, who joined from AXA last year, takes on a newly created role to drive growth in these key markets.
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SPRING 2018
Cat pricing unmoved
