Friday, November 24, 2017

News

SBI General Insurance to list in 18 to 24 months

SBI General Insurance to list in 18 to 24 months

The general insurance arm of India’s largest lender is reportedly on track to hit the stock market in 18 to 24 months.

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Swiss Re Corporate Solutions appoints new SE Asia head

Swiss Re Corporate Solutions appoints new SE Asia head

Didier Belot replaces Jonathan Rake and will be responsible for building commercial insurance programmes in the region.

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Anbang ordered to cut shareholdings in another two banks

Anbang ordered to cut shareholdings in another two banks

Stakes in China Minsheng Banking and China Merchants Bank must be cut to no more than 5%, say regulators.

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Allianz and Sri Ayudhya Capital to deepen cooperation in Thailand

Allianz and Sri Ayudhya Capital to deepen cooperation in Thailand

The two companies will enter into strategic transactions across both life and general insurance.

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Regulators rethink how insurers’ risks are assessed

Regulators rethink how insurers’ risks are assessed

Global regulators are considering changing the way “systemically important” insurers are defined.

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DeltaDigital launched as Singapore’s first online financial lines tool

DeltaDigital launched as Singapore’s first online financial lines tool

It offers instant quotes for products such as cyber, professional liability, technology professional liability and management liability.

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Non-life, reinsurance prices forecast to go up

Non-life, reinsurance prices forecast to go up

The string of large natural catastrophes this year could lead to rate hardening next year and in 2019, says a new report.

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Allianz Global Corporate & Specialty expands in China, Indonesia

Allianz Global Corporate & Specialty expands in China, Indonesia

The business has started operations in Beijing and Jakarta to meet growing demand in the corporate insurance segment.

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Three Chinese insurers punished over “problematic” policies

Three Chinese insurers punished over “problematic” policies

The three companies have been banned from applying for permission to sell new products for six months.

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Vietnam premiums up 20%

Vietnam premiums up 20%

The country’s insurance industry continues to expand, with total premiums reaching US$3.7bn through October.

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US$2.2tr of China’s insurance funds utilised in Q1-Q3

US$2.2tr of China’s insurance funds utilised in Q1-Q3

The amount is 9.38% higher than the total insurance funds used as of the end of last year.

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Zhongtian Financial to pay US$4.7bn for stake in Huaxia Life

Zhongtian Financial to pay US$4.7bn for stake in Huaxia Life

It will buy the stakes from Beijing Qianxi Shihao Electron Technology and Beijing Zhongsheng Century Technology.

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New shipowners’ insurance launched in Hong Kong

New shipowners’ insurance launched in Hong Kong

The Hong Kong China War Risk Syndicate covers marine hulls for acts of war, piracy and other potential dangers.

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Life insurers to benefit from China’s eased restrictions

Life insurers to benefit from China’s eased restrictions

The decision to ease restrictions on foreign ownership of financial firms is expected to attract more investment.

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FWD appoints new chief executive for Thailand

FWD appoints new chief executive for Thailand

Poramasiri Manolamai takes over from the current chief executive for Thailand, Mike Plaxton, effective January 1, 2018.

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Korean insurers ask for government help on earthquake risk

Korean insurers ask for government help on earthquake risk

Insurers say earthquake policies will not be profitable unless the government shares a bigger financial burden.

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Insurance telematics make up 10% of market share

Insurance telematics make up 10% of market share

The market is expected to reach US$114bn by 2025 thanks to the swift penetration of smart connectivity systems.

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AIA launches HK’s first blockchain-enabled bancassurance

AIA launches HK’s first blockchain-enabled bancassurance

The technology will cut the time it takes to process insurance applications while improving transparency.

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