Saturday, September 23, 2017

Life

AIA pays A$3.8 billion for CBA life unit

AIA pays A$3.8 billion for CBA life unit

The Asian insurance giant has acquired Australia’s CommInsure Life and New Zealand’s Sovereign.

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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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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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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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AIA set to buy Commonwealth Bank’s life assets

AIA set to buy Commonwealth Bank’s life assets

The Asian insurance group has become favourite to buy the unit in a deal said to be worth more than US$4bn.

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Manulife names new Asia CEO

Manulife names new Asia CEO

Anil Wadhwani has been appointed president and chief executive officer of the division, taking over from Philip Witherington.

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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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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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PartnerRe names new CEO for L&H in Asia

PartnerRe names new CEO for L&H in Asia

Jerome Matrundola joins from SCOR to lead the life and health business in the region.

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HSBC Insurance appoints Hong Kong CEO

HSBC Insurance appoints Hong Kong CEO

Former interim chief executive Edward Moncreiffe will oversee HSBC’s insurance and pension business in the city.

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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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Investment income lifts China Life profits

Investment income lifts China Life profits

Net income rose by 17.8% in the first six months of the year, driven by an 11.45% investment return.

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Jack Ma-backed firm eyes Asian unit of MassMutual

Jack Ma-backed firm eyes Asian unit of MassMutual

A consortium led by Yunfeng Financial Group has expressed interest to pay about US$1.7bn for the business.

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Ping An registers best half-year profit in a decade

Ping An registers best half-year profit in a decade

The results were driven by strong growth in life premiums and came despite a government crackdown on the industry.

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AIG selling US$2bn life settlements portfolio

AIG selling US$2bn life settlements portfolio

The insurer is reportedly working with investment bankers from Goldman Sachs to unload the assets.

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Asian insurance sector’s embedded value up 15.3%

Asian insurance sector’s embedded value up 15.3%

China and Hong Kong seen as the main drivers, according to a survey from global consulting firm Milliman.

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Samsung Life posts 26% profit growth

Samsung Life posts 26% profit growth

The insurer added that its value of new business was W598.3 billion, up 6.5% over the same period.

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Japan’s major life groups post weaker revenues

Japan’s major life groups post weaker revenues

A decline in premium income dragged down revenues of six of the country’s seven leading life groups.

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SUMMER 2017

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From supply chains to cyber, we discuss emerging risks with a roundtable of Singapore risk managers