Sunday, November 19, 2017

Legal/Regulatory

Insurers in Malaysia target local capital

Insurers in Malaysia target local capital

Global insurers are aiming to comply with the June 2018 deadline to achieve a 30% local shareholding.

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Moody’s welcomes China’s removal of foreign ownership cap

Moody’s welcomes China’s removal of foreign ownership cap

The new regime is credit positive for both foreign and domestic life insurers, says the rating agency.

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HK to collect levy from insurance policyholders

HK to collect levy from insurance policyholders

The Insurance Authority will start at 0.04% during the first phase and will gradually increase.

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Huaxia Life raises stake in China Minsheng Bank

Huaxia Life raises stake in China Minsheng Bank

Although its owner is believed to be detained by mainland authorities, the insurer continues to make investments.

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Chinese internet-only insurers still register losses

Chinese internet-only insurers still register losses

The profits of China’s four online-based insurers saw a rise in premium income, but still ended up registering a loss.

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Chinese insurers post lower premium income growth

Chinese insurers post lower premium income growth

A crackdown on insurance companies’ risky and aggressive investment behaviour has taken a toll.

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Life business remains upbeat in Singapore

Life business remains upbeat in Singapore

The sector has continued to post sterling growth this year, registering double-digit growth amid robust sales.

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Korean official warns interest rate hike could disrupt insurers

Korean official warns interest rate hike could disrupt insurers

FSC vice-chairman Kim Yong-beom made the pronouncement ahead of the Bank of Korea’s plan to raise its key rate.

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L&G targets Japanese market

L&G targets Japanese market

Britain’s Legal & General is set to offer company pension scheme insurance and investment management.

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HK regulator keen to encourage insurtech

HK regulator keen to encourage insurtech

The Insurance Authority has called for innovations that will help to cut premiums paid by customers.

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Singapore woos cat bond issuers with 100% grant

Singapore woos cat bond issuers with 100% grant

MAS has unveiled a grant scheme aimed at encouraging insurers and reinsurers to issue catastrophe bonds in Singapore.

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Insurance, takaful remain unpopular in Malaysia

Insurance, takaful remain unpopular in Malaysia

The country’s central bank governor urged the industry to focus on the underserved segment of the market.

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Chinese broker set to list on Shenzhen SME board

Chinese broker set to list on Shenzhen SME board

Jiang Tai Insurance Brokers said it would float its shares on the board by the second half of 2018.

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China Life profit grows 365%

China Life profit grows 365%

Earnings have been buoyed by a leap in investment income amid an increasing stock market and robust premiums.

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CVS offers to buy Aetna for US$66bn

CVS offers to buy Aetna for US$66bn

The proposed acquisition is poised to be the largest ever in health insurance history.

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India eyes 10-year lock-in for PE investors

India eyes 10-year lock-in for PE investors

The country’s regulator has made it harder for private equity companies to exit at will from insurers.

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Malaysia warns insurers against raising motor premiums

Malaysia warns insurers against raising motor premiums

Any increase above 10% after tariff liberalisation will require the approval of the Bank of Negara Malaysia.

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Party committees to be revived in Chinese insurance JVs

Party committees to be revived in Chinese insurance JVs

The Communist Party is aiming to bring back the formerly inactive committees to extend its representation in business.

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Zainudin Ishak, Malaysian Re

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