Thursday, February 22, 2018

Legal/Regulatory

Malaysia, Thailand sign insurance deal

Malaysia, Thailand sign insurance deal

Bank Negara Malaysia and Thailand’s Office of Insurance Commission have signed an MoU.

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India to revise insurance fund rules

India to revise insurance fund rules

Irdai is looking to keep up with changes in the market and the economic landscape in the country.

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Low-rated insurers to face curbs in China

Low-rated insurers to face curbs in China

Affected companies will face restrictions from the regulator, the official Xinhua news agency reports.

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Chubb makes leadership changes in Asia Pacific

Chubb makes leadership changes in Asia Pacific

John French named head of broker distribution and Jarrod Hill as country president, Australia and New Zealand.

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Philippine firms continue net income growth

Philippine firms continue net income growth

A rise in underwriting and investment income helped drive the robust third-quarter performance.

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China considers revising insurance security fund rules

China considers revising insurance security fund rules

The move will allow the fund to provide necessary liquidity support to insurers in case of crisis.

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Outlook for Asia insurance sector stable, says Moody’s

Outlook for Asia insurance sector stable, says Moody’s

Steady economic momentum across the economies of the region is driving demand for insurance.

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Life insurers’ new premiums up 6% in India

Life insurers’ new premiums up 6% in India

LIC still led the pack, but total new premium collected by all private insurers grew 32%.

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India allows PE funds to own insurance companies

India allows PE funds to own insurance companies

Private equity funds can now own up to 10% of the paid-up equity of an insurer, says Irdai.

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Life segment leads growth in Thailand

Life segment leads growth in Thailand

The country’s changing demographics and better personal and retirement coverage have provided opportunities.

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Taiwan Financial approved to inject new capital in insurance unit

Taiwan Financial approved to inject new capital in insurance unit

The Taiwanese financial group has proposed adding US$330m of capital into Bank Taiwan Life Insurance.

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Nippon Life to buy 24.75% stake in TWC Group

Nippon Life to buy 24.75% stake in TWC Group

The Japanese insurer will acquire 24.75% of the US investment firm from Carlyle for an estimated US$488m.

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Taiwan incentivises protection products

Taiwan incentivises protection products

Starting next year, insurers can take advantage of a government scheme to improve the product mix.

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Chinese non-life insurers, reinsurers required to hire actuaries

Chinese non-life insurers, reinsurers required to hire actuaries

The country’s 84 non-life general insurers and 12 reinsurers must have a chief actuary by January 1, 2020.

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PE funds will be allowed as promoters of Indian insurers

PE funds will be allowed as promoters of Indian insurers

Irdai has approved a proposal to allow private equity funds to promote insurance companies through SPVs.

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FRS opens in Hong Kong and Malaysia

FRS opens in Hong Kong and Malaysia

Financial Risk Solutions’ two new offices are in Menara Darussalam in Kuala Lumpur and ICC in Hong Kong.

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Insurance sector in Malaysia welcomes new deputy governor

Insurance sector in Malaysia welcomes new deputy governor

Jessica Chew is set to step in starting January next year as Sukudhew Singh is relinquishing his post after 31 years.

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Beijing and Guernsey in captive insurance joint venture

Beijing and Guernsey in captive insurance joint venture

The partnership will see the creation of captive structures and the provision of captive services for Chinese businesses.

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Nina Klingspor, Allianz Global Corporate & Specialty

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