Saturday, September 23, 2017

Legal/Regulatory

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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Foreign insurers rush to meet Malaysia ownership cap

Foreign insurers rush to meet Malaysia ownership cap

Bank Negara Malaysia wants foreign ownership in local insurance companies to be capped at 70% by June 2018.

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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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Chinese life firms urged to diversify products

Chinese life firms urged to diversify products

A senior official at CIRC wants insurers to innovate and offer more than just short-term life products.

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India’s life insurers record 23% growth in first-year premium

India’s life insurers record 23% growth in first-year premium

The state-run Life Insurance Corporation remained the leader among the country’s life insurers.

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At least 20 bidders eye AXA wealth unit in HK

At least 20 bidders eye AXA wealth unit in HK

China Taiping Insurance and Country Garden are reportedly among the companies that have expressed an interest.

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Ant Financial’s agri insurance JV gets green light

Ant Financial’s agri insurance JV gets green light

China’s insurance regulator has given the go-signal for a joint venture with China United Insurance to begin operations.

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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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Indian general insurance premiums up 32%

Indian general insurance premiums up 32%

Private insurers ICICI Lombard General Insurance and Bajaj Allianz General Insurance led the growth.

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Cambodia sees life insurance rush

Cambodia sees life insurance rush

More than US$1bn worth of life premiums were issued in the first half of the year.

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Vietnam premiums up 22%

Vietnam premiums up 22%

Collections grew 22% during the first eight months of this year to about Vnd65.56tr (US$2.89bn).

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Listed Chinese insurers to benefit from risk crackdown

Listed Chinese insurers to benefit from risk crackdown

Efforts to contain the sale of risky short-term life insurance policies won’t seriously affect the country’s major insurers.

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Higher profits for Malaysia’s insurance, takaful firms

Higher profits for Malaysia’s insurance, takaful firms

Traditional and Islamic insurers in the country are beginning to see a silver lining after a period of dreary results.

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Foreign insurers get access to wider market in China

Foreign insurers get access to wider market in China

CIRC says the government will open the local health, disaster and pension insurance markets.

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Huabang Financial to acquire Israel’s Clal Insurance

Huabang Financial to acquire Israel’s Clal Insurance

The controlling stake in the Israeli insurance and financial firm is valued at approximately US$1.36b.

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Growth of non-linked life premiums drops in HK

Growth of non-linked life premiums drops in HK

However, linked life business enjoyed a steep increase in growth, according to the latest data from the Hong Kong Insurance Authority.

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Anbang returns to more traditional business model

Anbang returns to more traditional business model

The company is preparing a new array of services and products to launch after its current ban expires.

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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