Thursday, November 23, 2017

Legal/Regulatory

Aviva exits Taiwan

Aviva exits Taiwan

The British-headquartered insurer has decided to sell its stake in a local joint venture with First Financial.

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Vietnam’s market keeps positive growth

Vietnam’s market keeps positive growth

Total premiums for the whole market in the January-September period were estimated to have increased 18% year-on-year.

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Five Chinese insurers barred from financing parent companies

Five Chinese insurers barred from financing parent companies

The move is part of a government effort to curb funding for some of the nation’s most aggressive asset acquirers.

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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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Drastic changes ahead in China’s insurance sector

Drastic changes ahead in China’s insurance sector

The government plans to implement changes in policies, environment and technology, according to CIRC.

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HK regulator to fast track online-only insurers

HK regulator to fast track online-only insurers

Companies applying to operate online-only insurance firms in Hong Kong can expect faster processing of their applications.

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China revises rules on securities insurance

China revises rules on securities insurance

A new regulation is in place starting Tuesday that will give insurance funds priority to subscribe to new shares offline.

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India’s non-life premiums up 13.6%

India’s non-life premiums up 13.6%

The gross premiums rose to US$2.68bn in September this year, according to data from Irdai.

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China insurers’ premium income up 20.45%

China insurers’ premium income up 20.45%

CIRC attributed the steady growth of premium income during August to improved regulations and risk protection.

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MS&AD buys 15% stake in ReAssure

MS&AD buys 15% stake in ReAssure

The group has agreed to pay Swiss Re £800m (US$1.05bn) for its investment in the UK-based closed-book life insurer.

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Assets of China’s foreign-funded insurers growing

Assets of China’s foreign-funded insurers growing

Insurance companies funded by foreign capital registered total assets of over Rmb1tn, says CIRC.

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Myanmar to grant licences to foreign insurers

Myanmar to grant licences to foreign insurers

The announcement comes after the nation embarked on decentralisation efforts for its insurance market.

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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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Vietnam market remains upbeat

Vietnam market remains upbeat

Sustained product awareness and continued economic expansion have helped premiums to grow 21%.

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Korean insurers brace for new accounting rule

Korean insurers brace for new accounting rule

Insurance providers will have to maintain a two-track record of their financial statements, beginning next year.

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Insurers eye alternative assets

Insurers eye alternative assets

Insurers are under pressure to improve profit margins amid uncertainty, regulatory challenges and intense competition.

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CIRC to focus on regulation, not enterprise work

CIRC to focus on regulation, not enterprise work

The regulator says it will clean up its image and treat all market entrants and insurance companies fairly.

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India approves two digital insurers

India approves two digital insurers

Acko and Digit Insurance are relying on their technology platforms to differentiate from traditional insurers.

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