Wednesday, May 23, 2018

Countries

China issues new rules on disclosures for insurers

China issues new rules on disclosures for insurers

New rules have been released to clarify ambiguous rules on disclosures for insurance companies.

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Two Anbang-held Korean insurers maybe up for sale

Two Anbang-held Korean insurers maybe up for sale

The two companies, Tongyang Life and ABL Life, could be sold in a package deal or separately.

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AIA co-leads US$500m investment in WeDoctor

AIA co-leads US$500m investment in WeDoctor

The Hong Kong-listed insurer co-led the funding round in a Tencent-backed Chinese online healthcare solutions platform.

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China jails ex-Anbang Insurance boss for 18 years

China jails ex-Anbang Insurance boss for 18 years

A Chinese court has sentenced Wu Xiaohui after a trial that accused him of stealing more than US$10bn.

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Sun Life Philippines CEO to retire in June

Sun Life Philippines CEO to retire in June

After 26 years with the firm, Riza Mantaring is retiring and will be succeeded by Benedict Sison.

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World Bank inks risk-sharing deal with Nexi

World Bank inks risk-sharing deal with Nexi

The bank’s political risk insurance arm has agreed to share risk in Japanese investments in developing countries.

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Philippines open to joining Asean catastrophe pool

Philippines open to joining Asean catastrophe pool

The country is particularly vulnerable to natural disasters and stands to benefit from regional risk pooling.

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Australia’s AMP downplays reported China Life talks

Australia’s AMP downplays reported China Life talks

The embattled Australian wealth manager has kept silent on reports that it is exploring a deal.

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Philippines insurers told to lead ‘fourth industrial revolution’

Philippines insurers told to lead ‘fourth industrial revolution’

The country’s finance secretary urged the industry to rethink how it does things and how it makes products.

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China’s life insurance sector to rise 10-fold by 2030

China’s life insurance sector to rise 10-fold by 2030

In the years ahead, the best performers are likely to be those that already have one foot in the door.

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Malaysian Re licences AIR catastrophe modelling platform

Malaysian Re licences AIR catastrophe modelling platform

The company is deploying the solution to support its reinsurance operations for a broad range of risk management solutions.

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Three Singapore insurers fined for data breach

Three Singapore insurers fined for data breach

Aviva, NTUC Income Insurance Cooperative and AIG were fined for alleged inadvertent disclosures.

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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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China’s non-life woes

China’s non-life woes

The country’s life insurance sector isn’t alone in facing significant challenges.

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India appoints outsider to lead Irdai

India appoints outsider to lead Irdai

Subhash Chandra Khuntia is a lifelong bureaucrat and former chief secretary of Karnataka state.

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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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