Wednesday, September 20, 2017

News

Premiums up 21% in Cambodia

Premiums up 21% in Cambodia

Total gross premiums surged to US$68m during the first half of the year, driven by the life sector.

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Sompo to sell Lloyd’s unit

Sompo to sell Lloyd’s unit

The Japanese insurer will offload Sompo Canopius to private equity firm Centerbridge Partners for ¥100b.

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Chinese premium income growth slows

Chinese premium income growth slows

Total premium income grew at 21.3% through July, compared to more than 35% in the same period last year.

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Banks turn to insurance for cyber attack cover

Banks turn to insurance for cyber attack cover

Banks are finding ways to shield their businesses from operational risks by considering insurance coverage.

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Chinese ministries cooperate to discipline insurers

Chinese ministries cooperate to discipline insurers

Insurers found violating rules will be restricted from establishing banking, securities and insurance subsidiaries.

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Aviva Asia launches Vietnam subsidiary

Aviva Asia launches Vietnam subsidiary

The insurer considers Vietnam a market with high growth potential and Asia as a region of strategic importance.

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Korea’s health insurance outlays hit US$30bn

Korea’s health insurance outlays hit US$30bn

Spending on medical examinations, hospitalisations and drug purchases in the first half of the year rose 9.2%.

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Takaful sector remains an underperformer

Takaful sector remains an underperformer

The industry remains hounded by issues that prevent it from achieving greater heights, says Gulf Times.

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Singapore sees first digitised direct insurance broker

Singapore sees first digitised direct insurance broker

Startup app PolicyPal will begin operating under its subsidiary BaoXianBaobao this week.

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Willis Towers Watson hires P&C consulting head for S Asia

Willis Towers Watson hires P&C consulting head for S Asia

David Maneval will be responsible for developing the non-life insurance consulting practice across Singapore, Thailand, Indonesia, Malaysia and Vietnam.

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Fairfax buys stake in rival of Indian partner

Fairfax buys stake in rival of Indian partner

ICICI Lombard has agreed to allow the Canadian company to buy a 49% stake in nonlife startup Digit.

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Japan insurers review regional risks

Japan insurers review regional risks

Leading nonlife insurers are re-evaluating damage risks to improve their premium pricing.

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Prudential, Great Eastern name new Singapore hires

Prudential, Great Eastern name new Singapore hires

Roy Lim becomes chief agency officer for Prudential while Wee Ai Ning is promoted to CIO at Great Eastern.

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PICC eyes South-East Asia acquisitions

PICC eyes South-East Asia acquisitions

China’s biggest non-life insurer may see a couple of deals happening before the end of this year, according to a company executive.

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Indian insurers bank on blockchain

Indian insurers bank on blockchain

Some 13 Indian insurance firms plan to use the technology to create a storehouse of policyholder data.

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Investment income lifts China Life profits

Investment income lifts China Life profits

Net income rose by 17.8% in the first six months of the year, driven by an 11.45% investment return.

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China Life, Baidu to raise US$1bn for tech investments

China Life, Baidu to raise US$1bn for tech investments

The two companies will partner in a private equity fund targeting middle to later stage companies.

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Philippine brokerage activities show modest hike

Philippine brokerage activities show modest hike

Premium income reached US$994m in 2016, representing an increase of 2.46% from 2015.

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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