Thursday, February 22, 2018

Countries

Samsung names new CEOs for insurance units

Samsung names new CEOs for insurance units

Samsung Life Insurance and Samsung Fire & Marine Insurance have new leaders after the resignation of the previous heads.

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China, India priority markets for UK insurers after Brexit

China, India priority markets for UK insurers after Brexit

The Association of British Insurers has said the two nations will be key targets after departure from the EU in 2019.

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Open for business?

Open for business?

Chinese acquirers are watching Oceanwide’s revived attempt to buy US insurer Genworth with interest.

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Korean insurers post higher profits in 2017

Korean insurers post higher profits in 2017

The improvement is driven by hefty gains on investment coupled with a rise in interest rates.

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China’s Sina to venture into internet insurance

China’s Sina to venture into internet insurance

The tech firm follows in the footsteps of the country’s big three internet players Alibaba, Tencent and Baidu.

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Manulife Hong Kong reports strong 2017 growth

Manulife Hong Kong reports strong 2017 growth

The healthy premium sales were a result of strong market demand for insurance and wealth products.

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Genworth, China Oceanwide refile acquisition plan

Genworth, China Oceanwide refile acquisition plan

The company is seeking financing as it aims to address maturing debt of about US$600 million.

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Thai Life eyes Cambodian market

Thai Life eyes Cambodian market

Thailand’s third-largest life insurer has plans to expand into neighbouring South-East Asia markets.

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Ping An Insurance’s units raise US$2.2bn in private financing

Ping An Insurance’s units raise US$2.2bn in private financing

Investors in the three tech units included SoftBank, which placed US$400m with Ping An Good Doctor.

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Great Eastern may sell minority stake in Malaysian unit

Great Eastern may sell minority stake in Malaysian unit

Malaysia’s largest pension fund, Employees Provident Fund, is reportedly in talks to buy the US$1bn stake.

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FWD Group appoints Ken Lau for Greater China role

FWD Group appoints Ken Lau for Greater China role

He joins from Union Life and will lead FWD in Hong Kong and Macau, and oversee expansion in Greater China.

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Allianz to acquire Sri Lanka’s Janashakthi Insurance

Allianz to acquire Sri Lanka’s Janashakthi Insurance

The German insurer will have a market share of approximately 20% after the US$107m acquisition.

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AXA to open shared service centers in Manila, Kuala Lumpur

AXA to open shared service centers in Manila, Kuala Lumpur

Company officials say the new centres will become information technology hubs for Japan and the rest of Asia.

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India unveils three-way merger of state-owned insurers

India unveils three-way merger of state-owned insurers

National Insurance, United India Insurance and Oriental Insurance are set to merge to form a single entity.

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Rakuten takes on Japan’s big three

Rakuten takes on Japan’s big three

The Japanese e-tailer’s acquisition of Asahi Fire & Marine shows how tech players are set to disrupt.

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Indian life companies push for separate limit on tax exemption

Indian life companies push for separate limit on tax exemption

The sector is looking at introducing various supportive measures in the upcoming state budget.

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Philippine life sector to log double-digit growth

Philippine life sector to log double-digit growth

The expansion is being driven by the country’s strong demographics and the impact of tax reforms.

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Operating cash flow of China’s insurers drops 65% in 2017

Operating cash flow of China’s insurers drops 65% in 2017

The decline is attributed to the intensified and widespread crackdown on risks and foul play in the sector.

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Nina Klingspor, Allianz Global Corporate & Specialty

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