Monday, November 20, 2017

Philippines

Philippine insurers told to beef up reserves

Philippine insurers told to beef up reserves

There remains a US$155m gap in reserves, or more than 60% of industry premiums and claims.

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Etiqa completes acquisition of Indonesian insurer

Etiqa completes acquisition of Indonesian insurer

Maybank’s wholly-owned insurance arm has completed its acquisition of Asuransi Asoka Mas for US$15.35m.

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Largest Philippine HMO in trouble over capital

Largest Philippine HMO in trouble over capital

Caritas Health Shield to raise fresh capital after allegations it has US$136m deficiency in its actuarial reserves.

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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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JLT and Munich Re launch Philippines parametric product

JLT and Munich Re launch Philippines parametric product

The two companies will jointly develop and offer an insurance solution to cover typhoon risks.

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Philippines social security seeks private insurers

Philippines social security seeks private insurers

The state-run programme is planning to tap private companies to insure 35 million of its members.

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Philippine insurers to submit regular reports to IMF

Philippine insurers to submit regular reports to IMF

The submissions are intended to enhance data transparency and promote sound statistical systems.

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Philippines launches parametric disaster programme

Philippines launches parametric disaster programme

The pilot scheme will provide parametric disaster coverage for 25 at-risk provinces in partnership with World Bank.

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Philippines tests parametric scheme for disaster-prone provinces

Philippines tests parametric scheme for disaster-prone provinces

The government has allocated US$20m to a pilot project that will offer quick-disbursing payouts based on a catastrophe model.

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Insurance business lifts HSBC’s profit in Asia

Insurance business lifts HSBC’s profit in Asia

Europe’s biggest bank was boosted by stronger insurance and wealth management revenue in Hong Kong.

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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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Philippines’ chief regulator elected to Asian Re board

Philippines’ chief regulator elected to Asian Re board

Insurance commissioner Denis Funa has been named vice-chairman of the management board.

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Ageas, EastWest launch Philippines digital venture

Ageas, EastWest launch Philippines digital venture

Troo will address access to health care, education for children, as well as support during retirement.

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Five Philippine non-life insurers to exit industry

Five Philippine non-life insurers to exit industry

Some non-life insurers in the country have decided to voluntarily exit the insurance business by year-end.

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Philippines insurers urge tax cut for non-life players

Philippines insurers urge tax cut for non-life players

A local industry group says taxes should be reduced to be on par with their Asean counterparts.

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Prudential starts microinsurance project in the Philippines

Online communities will be set up in rural cities Tacloban and Butuan to improve microinsurance literacy.

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AIG raises capacity in the Philippines

AIG raises capacity in the Philippines

The insurer has refocused its portfolio to target opportunities in the Duterte government’s infrastructure push.

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Philippines raises investment limit for pre-need firms

Philippines raises investment limit for pre-need firms

According to the insurance commissioner, the investment threshold has been increased by 2% under the Pre-Need Code.

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