Saturday, July 22, 2017

News

Global losses from disasters down in 2017

Global losses from disasters down in 2017

Economic losses were 56% lower than the 10-year average during the first half of the year.

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Foresea Life to set up Communist Party committee

Foresea Life to set up Communist Party committee

The move follows Xi Jinping’s call for the enhancing of Party leadership in financial operations.

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More growth in Malaysian insurance sector

More growth in Malaysian insurance sector

The sector is projected to post a high single-digit growth in new business premiums.

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Aviva to sell Friends Provident for US$443m

Aviva to sell Friends Provident for US$443m

It has agreed to sell the business to RL360 Holding Company, a unit of International Financial Group, to free up capital.

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IAG to maintain just one division in Australia

IAG to maintain just one division in Australia

The insurer will bring together all of its divisions in the country under chief operating officer Mark Milliner.

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Prudential Financial enters Indonesian life market

Prudential Financial enters Indonesian life market

The US-based insurer has bought a 49% stake in Asuransi Jiwa Mega Indonesia, a subsidiary of CT Corp.

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Premiums up 21% in Vietnam

Premiums up 21% in Vietnam

Insurers in the South-East Asian country saw premiums rise 21% in the first half on the back of rising living standards.

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Philippine insurers promote inclusive insurance

Philippine insurers promote inclusive insurance

Five domestic insurance firms have forged a coalition to promote the growth of inclusive insurance market across the Asian region.

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Asia ill-prepared against cyber attacks, says Lloyd’s

Asia ill-prepared against cyber attacks, says Lloyd’s

Lloyd’s risk modeling platform Cyence says losses from cloud service disruption could reach US$53 billion in an extreme case.

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Indian insurers bullish on continued growth momentum

Indian insurers bullish on continued growth momentum

The country’s general insurance industry says that 20% annual growth will be sustainable in the coming years.

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HK regulator tells insurers to embrace technology

HK regulator tells insurers to embrace technology

The Insurance Authority has urged insurance companies to harness financial technology and big data analytics.

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Manulife considers selling US unit in Asia refocus

Manulife considers selling US unit in Asia refocus

The Canadian insurer is reportedly toying with the idea of divesting its Boston-based John Hancock Financial Services division.

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Chinese insurers advised to divest non-core assets

Chinese insurers advised to divest non-core assets

An official from the the China Insurance Regulatory Commission has cautioned against a wide range of risks facing the industry.

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India’s HDFC Life shareholders push IPO plans

India’s HDFC Life shareholders push IPO plans

Standard Life is reportedly keen to move forward with the listing after the merger with Max Group’s is likely to be called off.

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Irdai enforces more transparency over policy exclusions

Irdai enforces more transparency over policy exclusions

Regulations released this week also require every insurer to display service parameters and turnaround times.

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Korea sees rise in sales of variable insurance policies

Korea sees rise in sales of variable insurance policies

Premiums have nearly doubled to US$477m on the back of robust gains in the local stock market.

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Korean insurers forecast to exceed 2016 performance

Korean insurers forecast to exceed 2016 performance

Higher interest rates and improved auto insurance business are expected to propel the industry.

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Ping An eyes fintech, healthcare assets abroad

Ping An eyes fintech, healthcare assets abroad

China’s largest insurer by market value is on the hunt for assets in the US, Israel and Singapore.

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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