Friday, January 19, 2018

Countries

Manulife inks USD1.2bn Asia distribution deal with DBS Group

Manulife inks USD1.2bn Asia distribution deal with DBS Group

Deal also allows DBS’ six million-strong retail, wealth and SME customer base to access the various life and health insurance solutions offered by Manulife.

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Myanmar sets rules for foreign insurance firms in economic zones

Myanmar sets rules for foreign insurance firms in economic zones

Foreign insurance companies required to pay a license fee to be allowed to operate in the country’s special zones.

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China Life and Ping An make their first US real estate investment

China Life and Ping An make their first US real estate investment

The project includes a 13-story office building and a 100-unit, nine-story condominium tower.

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US eases collateral requirements for Japanese reinsurers

US eases collateral requirements for Japanese reinsurers

Reinsurers licensed and domiciled in Japan can now operate in the US with reduced levels of collateral.

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Bank Rakyat Indonesia to acquire local life insurance company

Bank Rakyat Indonesia to acquire local life insurance company

Bank to allocate approximately USD232 million to fund its planned acquisitions.

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Vietnam insurer to sell shares to foreign strategic investors

Vietnam insurer to sell shares to foreign strategic investors

Company to also open two seats on its managing board for investors.

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Taiwanese insurers face higher risks as forex holdings rise

Taiwanese insurers face higher risks as forex holdings rise

Local insurance firms have minimal margins to absorb unfavorable foreign fluctuations.

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Malaysia’s life insurance industry to grow up to 10% in 2015

Malaysia’s life insurance industry to grow up to 10% in 2015

Government has set a target of at least 75% of insurance coverage for Malaysians by 2020.

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Pakistan raises minimum capital requirements

Pakistan raises minimum capital requirements

According to the SECP, raising the minimum paid-up capital requirements for insurers is an attempt to strengthen the country’s insurance sector.

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Japan starts cover for tankers carrying Iranian oil

Japan starts cover for tankers carrying Iranian oil

The threat of continued sanctions has prompted the Japanese government to provide insurance cover for local shipping companies bringing oil from Iran.

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Bangladesh allocates $200m to reform insurance sector

Bangladesh allocates $200m to reform insurance sector

The country’s insurance regulator is being tasked with modernising and professionalising the industry.

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AIG unloads $500m stake in China’s PICC

AIG unloads $500m stake in China’s PICC

America’s biggest commercial insurer cuts its stake in PICC Property & Casualty to 8.2% as it seeks to raise funds.

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China’s insurance industry solvency remains stable

China’s insurance industry solvency remains stable

China’s insurance regulator says industry solvency is stable despite the impact of the second-generation solvency regime.

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Chinese insurers trial heavy equipment insurance

Chinese insurers trial heavy equipment insurance

Seven Chinese insurers have joined a pilot scheme to co-insure heavy equipment or high-technology.

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Chinese insurers invest $4.79b in nursing homes

Chinese insurers invest $4.79b in nursing homes

Encouraged by central government, eight insurers are building nursing homes across China.

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South Korea’s insurance firms lead rise in debt holdings in 2014

South Korea’s insurance firms lead rise in debt holdings in 2014

Increase in debt holdings was attributed to the record fall of local yields.

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Opportunities rise for insurers as Asia Pacific strengthens solvency regulations

Opportunities rise for insurers as Asia Pacific strengthens solvency regulations

Asia insurers are now seeing further opportunities as countries in the Asia Pacific region move to strengthen their solvency regulations,

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Min Ong to lead Berkshire insurance’s energy business in Asia

Min Ong to lead Berkshire insurance’s energy business in Asia

Ong, based in Singapore, will lead the energy business of BHSI as Asia Regional Head of Energy

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