Country: Asia Pacific Page 505 / 507
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- April 23 2015
Bangladesh to raise foreign stake in life insurance sector to 83%
Government keen to attract more foreign insurance companies to the country.
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- April 23 2015
China’s PSBC’s US$3bn stake sale attracts global investors
Bidders include Singapore's Temasek Holdings and French bank BNP Paribas.
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- April 23 2015
Philippine National Bank seeks US$500m in sale of life insurance stake
Possible investors could come from Japan and Taiwan.
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- April 23 2015
Reinsurance Group of America names India head
Thomas Mathew appointed Managing Director and Chief Executive of RGA India.
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- April 23 2015
Bank Rakyat Indonesia to sell stake in life insurance arm
The Bank is seeking a partner to develop its life insurance unit BRIngin Life.
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- April 23 2015
Compensation scheme for poor financial advice gets support in Australia
Draft legislation will provide compensation for customers found to be financially damaged by poor advice.
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- April 23 2015
Korea plans to allow insurers in combo stores
Combo stores allowed to provide all types of financial products under the FSC plan.
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- April 21 2015
Manulife launches financial advisory unit in Singapore
Products offered under financial advisory arm set to rise.
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- April 21 2015
Malaysia’s growing insurance industry to drive M&A
Under-capitalized insurers and takaful operators could be expected to seek strategic investors or alternative capital.
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- April 21 2015
Taiwan’s Cathay Financial enters Philippine banking sector
Cathay Life Insurance Corp acquires 20% stake in Rizal Commercial Banking Corp for Php7.95bn (US$179m).
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- April 21 2015
Chinese insurers report double-digit profits
Growth partly attributed to large gains in ROI.
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- April 20 2015
Tokio Marine investing in real estate funds to avoid trouble
Japanese insurer hopes to increase its overseas property assets by about US$84m this year.
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- April 20 2015
India’s general insurance growth hits three-year low
Slump in auto sales and lack of new projects reasons for single digit growth.
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- April 20 2015
Lloyd’s of London eyes Islamic insurance market
Malaysia, Saudi Arabia and United Arab Emirates targeted for takaful.
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- April 19 2015
Korea moves to prevent state trade insurance fraud
The move is aimed at preventing companies from securing trade insurance using false trade reports.
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- April 19 2015
Korea’s Mirae Asset Life Insurance to launch IPO
Life Insurer looking to raise up to KRW500bn (US$459m) according to reports.
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- April 19 2015
Macau insurers set for growth, says report
Significant growth opportunities in the Special Administrative Region seen due to the low insurance penetration.
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- April 16 2015
Zhong An Insurance passes $10bn valuation
Zhong An has underwritten over 630 million insurance policies and serviced 150 million clients in its first year of operation.
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- April 16 2015
BPL reshuffles Asia-Pacific leadership
Peter Gilbert's move to Singapore aimed at helping service BPL's base of banks and corporates, and develop new markets and clients.
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- April 16 2015
Annuity recommendations getting popular among Australian planners
Annuities had continued to increase over the last three years in response to client concerns such as longevity risk.
