Saturday, July 22, 2017

Life

Foresea Life to set up Communist Party committee

Foresea Life to set up Communist Party committee

The move follows Xi Jinping’s call for the enhancing of Party leadership in financial operations.

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More growth in Malaysian insurance sector

More growth in Malaysian insurance sector

The sector is projected to post a high single-digit growth in new business premiums.

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Aviva to sell Friends Provident for US$443m

Aviva to sell Friends Provident for US$443m

It has agreed to sell the business to RL360 Holding Company, a unit of International Financial Group, to free up capital.

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Prudential Financial enters Indonesian life market

Prudential Financial enters Indonesian life market

The US-based insurer has bought a 49% stake in Asuransi Jiwa Mega Indonesia, a subsidiary of CT Corp.

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India’s HDFC Life shareholders push IPO plans

India’s HDFC Life shareholders push IPO plans

Standard Life is reportedly keen to move forward with the listing after the merger with Max Group’s is likely to be called off.

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Korea sees rise in sales of variable insurance policies

Korea sees rise in sales of variable insurance policies

Premiums have nearly doubled to US$477m on the back of robust gains in the local stock market.

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SBI Life’s IPO plan gets final board approval

SBI Life’s IPO plan gets final board approval

The insurance unit of State Bank of India is aiming to raise US$1.1bn, becoming the second insurer to go public.

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Guaranteed to end badly?

Guaranteed to end badly?

Insurers in Asia are taking ever bigger risks to meet increasingly unrealistic guaranteed returns promised to policyholders.

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China drafts rules on endowment insurance

China drafts rules on endowment insurance

CIRC is in the process of crafting regulations as part of preparations to launch a pilot programme before full implementation.

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Sale of SCB insurance unit to FWD halted

Sale of SCB insurance unit to FWD halted

What could have been the largest insurance M&A transaction in South-East Asia has failed on valuation differences.

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Premium growth defies weak economies

Premium growth defies weak economies

Advanced economies were the main drag on global premiums, but growth in many emerging markets slowed also.

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Emerging Asia to drive premium growth

Emerging Asia to drive premium growth

Asian emerging markets will help global insurance premium growth accelerate to 5.9% during the coming decade.

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OCBC sells 33.3% stake in Hong Kong Life Insurance

OCBC sells 33.3% stake in Hong Kong Life Insurance

The sale to First Origin International yielded a return of around US$309m.

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CIRC crackdown hits universal life sales

CIRC crackdown hits universal life sales

Premiums are down 59% year-on-year on the back of an aggressive campaign to tame market players.

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Anbang sues former owners of Tongyang Life

Anbang sues former owners of Tongyang Life

In a case of buyer’s remorse, the Chinese insurer has complained that the sellers deliberately concealed risks.

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AXA Hong Kong appoints new CEO

AXA Hong Kong appoints new CEO

Etienne Bouas-Laurent will take over from Stuart Harrison, who retires from the position after eight years.

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Mirae Asset Life to buy 50% stake in Prevoir Vietnam

Mirae Asset Life to buy 50% stake in Prevoir Vietnam

The deal marks Mirae’s entry into the Vietnamese market, having reportedly outbid a Chinese competitor.

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Tahoe completes acquisition of Dah Sing Insurance

Tahoe completes acquisition of Dah Sing Insurance

The HK$10.6b transaction sees Paula Wai-Yee Choi become CEO of the Hong Kong insurer.

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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