Saturday, September 23, 2017

Capital Markets

Debt-to-equity swaps open to Chinese insurers

Debt-to-equity swaps open to Chinese insurers

Insurance funds may soon be granted permission to join in debt-to-equity swaps of distressed firms.

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Malaysia’s central bank approves AXA Affin share sale

Malaysia’s central bank approves AXA Affin share sale

Affin Holdings has been given the green light to acquire a 7.07% equity interest in AXA Affin General Insurance.

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China to heighten insurance scrutiny

China to heighten insurance scrutiny

Investments and capital flows in and out of the industry will be overseen more closely, the country’s regulator announced.

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Mounting debt forces Hyundai Life to cut workforce

Mounting debt forces Hyundai Life to cut workforce

The company has reportedly placed 120 employees under a voluntary retirement programme as it faces mounting debt.

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ZhongAn eyes HK expansion after IPO

ZhongAn eyes HK expansion after IPO

The company is looking to sell life insurance and other healthcare products in the territory after it lists on HKEx.

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ZhongAn seeks US$11bn valuation in HK IPO

ZhongAn seeks US$11bn valuation in HK IPO

China’s first internet-only insurer is selling a 15% stake that will see it raise US$1.5bn if the deal materialises.

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Singapore bond issuers urged to take up insurance

Singapore bond issuers urged to take up insurance

Such policies would pay for the costs of calling for meetings and legal and financial advisory fees.

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GC Securities and Marsh launch ILS platform

GC Securities and Marsh launch ILS platform

The JV standardises the placement process for collateralised reinsurance and private catastrophe bond deals.

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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 Post additional sell-down likely delayed

Japan Post additional sell-down likely delayed

The government may have to wait until 2018 to further sell down its stake if price remains weak.

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Insurers to spur IPO bonanza in India

Insurers to spur IPO bonanza in India

Total fundraising from first-time share sales could balloon to Rs500bn (US$7.8bn) this year.

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Reliance General Insurance to sell 10% stake through IPO

Reliance General Insurance to sell 10% stake through IPO

The Reliance Capital unit is the fourth general insurer in India to have announced its intention to list.

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Star Health Insurance plans US$470m stake sale

Star Health Insurance plans US$470m stake sale

The Indian insurer has reportedly appointed an investment bank for primary and secondary stake sales.

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Two state-owned insurers set to apply for IPO in India

Two state-owned insurers set to apply for IPO in India

GIC and New India Assurance are expected to tender their applications for initial public offerings within three weeks.

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Hong Kong exchange rejects AMTD’s insurance IPO

Hong Kong exchange rejects AMTD’s insurance IPO

The prospectus was reportedly described as “substantially incomplete” and an attempted appeal ended in failure.

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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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SBI Life’s IPO plan gets final board approval

SBI Life’s IPO plan gets final board approval

The insurance unit of State Bank of India is aiming to raise US$1.1bn, becoming the second insurer to go public.

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China’s ZhongAn files US$1.5bn IPO in Hong Kong

China’s ZhongAn files US$1.5bn IPO in Hong Kong

China’s first internet-only insurer may launch its initial public offering before the end of the year.

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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