Sunday, April 22, 2018

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China to relax foreign ownership in life sector from June

China to relax foreign ownership in life sector from June

Limits in joint venture life insurance companies will be raised to 51% this year and removed in three years.

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India’s general insurers book 17% direct premium growth

India’s general insurers book 17% direct premium growth

Private sector general insurers recorded even stronger growth of 21.6% during the financial year just ended.

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Sompo International creates retail platform for global integration

Sompo International creates retail platform for global integration

The group envisions bringing all its international businesses outside Japan under the ownership of one unit by 2020.

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Losses reach US$144bn from catastrophes in 2017

Losses reach US$144bn from catastrophes in 2017

The figure is the highest recorded in a single year and double the losses of 2016, the second-highest on record.

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Prudential to increase investment in China

Prudential to increase investment in China

The company is aiming to boost its product coverage and sales distribution in the country.

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Beazley appoints Asia-Pacific head

Beazley appoints Asia-Pacific head

Lucien Mounier will oversee growth opportunities in the region for its portfolio of specialist insurance products.

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Asian insurtech M&A surges

Asian insurtech M&A surges

The transaction volume of insurtech M&A in Asia hit US$460 million in 2017, more than three times that of 2016.

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PICC eyes Shanghai listing

PICC eyes Shanghai listing

The parent of China’s biggest non-life insurer is planning a secondary listing to raise over Rmb10bn in fresh capital.

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RKH Specialty targeting Asia expansion

RKH Specialty targeting Asia expansion

Stuart Beatty has been appointed as the company’s regional CEO to build its specialty capabilities in the region.

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China to speed up insurance industry opening

China to speed up insurance industry opening

President Xi Jinping said the country will accelerate liberalisation and significantly broaden market access.

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Indian mortgage lender HDFC to acquire Apollo Munich

Indian mortgage lender HDFC to acquire Apollo Munich

India’s largest mortgage lender is reportedly in advanced negotiations to pay around US$150m for the joint venture.

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South-East Asia, Africa to drive takaful growth

South-East Asia, Africa to drive takaful growth

New markets outside the GCC, Malaysia and Turkey are expected to drive growth of the Islamic insurance industry.

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India’s public-sector merger put off to next year

India’s public-sector merger put off to next year

The consolidation of United India Insurance, National Insurance and Oriental Insurance has been delayed.

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Farglory Life fined over corporate governance breach

Farglory Life fined over corporate governance breach

Taiwan’s regulator has imposed the penalty for corporate governance breaches on a series of real estate projects.

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US broker Alliant targets Asia expansion

US broker Alliant targets Asia expansion

The move is a consequence of its acquisition of Dumortier Risk Management, which has ties to Taiwan and China.

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Swiss Re confirms talks with SoftBank over possible stake sale

Swiss Re confirms talks with SoftBank over possible stake sale

It is eyeing a strategic cooperation and a minority investment that is not expected to exceed 10%.

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China injects US$9.7bn into Anbang

China injects US$9.7bn into Anbang

The capital injection is aimed at ensuring the solvency and stability of the group.

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Sun Life aligns HNW operation with Asia business

Sun Life aligns HNW operation with Asia business

The change reflects the fact that the high net worth business mostly serves Chinese clients.

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