Wednesday, September 20, 2017

Countries

Allianz rebuffs Chinese takeover

Allianz rebuffs Chinese takeover

It emerged this week that Anbang and HNA both attempted a takeover of the German insurer earlier this year.

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Listed Chinese insurers to benefit from risk crackdown

Listed Chinese insurers to benefit from risk crackdown

Efforts to contain the sale of risky short-term life insurance policies won’t seriously affect the country’s major insurers.

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Higher profits for Malaysia’s insurance, takaful firms

Higher profits for Malaysia’s insurance, takaful firms

Traditional and Islamic insurers in the country are beginning to see a silver lining after a period of dreary results.

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Foreign insurers get access to wider market in China

Foreign insurers get access to wider market in China

CIRC says the government will open the local health, disaster and pension insurance markets.

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PartnerRe names new CEO for L&H in Asia

PartnerRe names new CEO for L&H in Asia

Jerome Matrundola joins from SCOR to lead the life and health business in the region.

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HSBC Insurance appoints Hong Kong CEO

HSBC Insurance appoints Hong Kong CEO

Former interim chief executive Edward Moncreiffe will oversee HSBC’s insurance and pension business in the city.

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XL Catlin strengthens Asia casualty capability

XL Catlin strengthens Asia casualty capability

Elishe Quek and Alice Chong join as casualty underwriters from AIG to take up positions in Singapore and Hong Kong.

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Huabang Financial to acquire Israel’s Clal Insurance

Huabang Financial to acquire Israel’s Clal Insurance

The controlling stake in the Israeli insurance and financial firm is valued at approximately US$1.36b.

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Growth of non-linked life premiums drops in HK

Growth of non-linked life premiums drops in HK

However, linked life business enjoyed a steep increase in growth, according to the latest data from the Hong Kong Insurance Authority.

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Anbang returns to more traditional business model

Anbang returns to more traditional business model

The company is preparing a new array of services and products to launch after its current ban expires.

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Chubb appoints two Asia-Pacific cyber executives

Chubb appoints two Asia-Pacific cyber executives

Andrew Taylor in Sydney and John DePeters in Singapore take up new regional cyber underwriting roles

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Largest Philippine HMO in trouble over capital

Largest Philippine HMO in trouble over capital

Caritas Health Shield to raise fresh capital after allegations it has US$136m deficiency in its actuarial reserves.

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Premiums up 21% in Cambodia

Premiums up 21% in Cambodia

Total gross premiums surged to US$68m during the first half of the year, driven by the life sector.

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Sompo to sell Lloyd’s unit

Sompo to sell Lloyd’s unit

The Japanese insurer will offload Sompo Canopius to private equity firm Centerbridge Partners for ¥100b.

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Chinese premium income growth slows

Chinese premium income growth slows

Total premium income grew at 21.3% through July, compared to more than 35% in the same period last year.

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Chinese ministries cooperate to discipline insurers

Chinese ministries cooperate to discipline insurers

Insurers found violating rules will be restricted from establishing banking, securities and insurance subsidiaries.

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Aviva Asia launches Vietnam subsidiary

Aviva Asia launches Vietnam subsidiary

The insurer considers Vietnam a market with high growth potential and Asia as a region of strategic importance.

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Korea’s health insurance outlays hit US$30bn

Korea’s health insurance outlays hit US$30bn

Spending on medical examinations, hospitalisations and drug purchases in the first half of the year rose 9.2%.

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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