Monday, February 26, 2018

Countries

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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Swiss Re opens new Asian HQ in Singapore

Swiss Re opens new Asian HQ in Singapore

It has also appointed a new regional board of directors, chaired by Lim Siong Guan, formerly of GIC.

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Korea to increase number of online insurers

Korea to increase number of online insurers

The regulator’s aim is to lower barriers to entry and ramp up competition in the country’s financial sector.

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Penetration improving in India but still lower than neighbours

Penetration improving in India but still lower than neighbours

At 3.49%, insurance buying in the country is up significantly from 2.7% in 2001, though still lags China.

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Japan’s Rakuten to acquire Asahi Fire & Marine Insurance

Japan’s Rakuten to acquire Asahi Fire & Marine Insurance

The e-commerce group has confirmed that it is considering buying the insurer from Nomura.

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Chubb names Edward Ler country head for Korea

Chubb names Edward Ler country head for Korea

He replaces Edward Kopp, who was recently appointed country president for general insurance in Thailand.

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Philippines to review capital rules for insurers

Philippines to review capital rules for insurers

The capitalisation requirement for local insurance companies is being reviewed in light of a study of Asean rules.

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M&A activity among Hong Kong insurers to remain robust

M&A activity among Hong Kong insurers to remain robust

M&A involving insurers in the city hit US$2.84bn in 2017 and growth is expected to continue this year.

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Nippon Life eyes more acquisitions

Nippon Life eyes more acquisitions

The company’s new president says the strategy is driven by Japan’s shrinking population and low interest rates.

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Chubb makes senior appointments in Thailand

Chubb makes senior appointments in Thailand

Nittaya Piriyathamwong will chair the executive committee of Chubb Samaggi while Edward Kopp becomes country president.

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SoftBank eyes backing Indian insurance startup

SoftBank eyes backing Indian insurance startup

PolicyBazaar, an online insurance aggregator, was valued at US$500m during its last funding round.

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Shimizu expected to become Nippon Life president

Shimizu expected to become Nippon Life president

Hiroshi Shimizu is the company’s current director and senior managing executive officer.

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Muang Thai Life plans more regional expansion

Muang Thai Life plans more regional expansion

It will focus on Myanmar, Indonesia, Malaysia and the Philippines after the success of JVs in Indochina.

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Indian regulator to issue new broker rules

Indian regulator to issue new broker rules

The Insurance Regulatory and Development Authority of India is expected to issue the new regulations soon.

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Nina Klingspor, Allianz Global Corporate & Specialty

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