Country: Asia Pacific Page 522 / 564
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- April 11 2016
China imposes 6% VAT on insurance services
Sales tax will apply from May 1 this year, according to a circular jointly issued by the finance ministry and tax office.
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- April 8 2016
China’s first insurance exchange to launch in June
The exchange is part of Shanghai's goal of becoming an international insurance centre by 2020.
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- April 8 2016
Korea’s life policy cancellation rates hit record high
Policyholders cancelled contracts worth W18.5 trillion during 2015, according to a survey by industry group KLIA.
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- April 8 2016
XL Catlin promotes David Guest to lead Singapore business
In addition to responsibility for Singapore, he will retain his current role as regional leader for crisis management.
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- April 7 2016
Zhong An posts US$30m net profit in 2015
China's first and only internet insurance licence holder saw premiums grow 200% to US$339m last year.
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- April 7 2016
Anbang buys Allianz’s Korea life unit for US$216 million
The deal comes barely a week after Anbang abandoned a US$14 billion bid for Starwood Hotels & Resorts.
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- April 6 2016
Anbang raises shareholdings in Chinese banks
It is now a top-10 shareholder in ICBC, Bank of China, AgBank and CCB after buying stakes at the end of last year.
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- April 6 2016
AXA Philippines completes acquisition of Charter Ping An
The acquisition allows it to offer the full spectrum of financial protection to customers in the country.
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- April 6 2016
Japanese government to cover Asian state projects
It will fully cover projects sponsored by regional governments against unrecoverable costs caused by wars or natural disasters.
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- April 6 2016
Pacific Life Re to open branch in Korea
The Financial Services Commission has approved the US-based reinsurer's application to do business in the country.
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- April 5 2016
Chinese investors’ interest in Australian insurers grows
M&A activity involving Chinese firms and Australian insurers is expected to rise this year, according to global law firm Clyde & Co.
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- April 5 2016
Australia’s Honan enters Malaysia
The Australian owned and operated broking company has entered a strategic relationship with local broker Hayat.
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- April 5 2016
ICICI sells Lombard stake to JV partner Fairfax
The Indian bank sold the 9% stake in its insurance subsidiary for US$234m or five times book value.
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- April 4 2016
Lloyd’s to apply for Indian reinsurance branch
Application for onshore branch follows IRDAI’s recent publication of the regulations governing the Lloyd’s market.
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- April 4 2016
India approves 49% insurance FDI under automatic route
Reserve Bank of India decision intended to attract more overseas investment from the insurance sector.
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- April 4 2016
Philippine premium income up 18.71% in 2015
Total premium income reached US$4.86 billion last year.
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- April 4 2016
Malaysia’s insurance, takaful sectors expect only moderate growth
Uncertainties in the financial markets and a challenging landscape seen as factors
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- April 1 2016
Chinese insurers to reduce exposure to equities
Fragile markets have prompted Chinese insurers to express caution in capital market investments this year.
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- April 1 2016
Singapore cyber demand to increase 50% this year
More businesses in Singapore are looking to protect themselves from cyber breaches, says AIG.
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- April 1 2016
Health expenditure in the Philippines tops US$11bn
More than 50% of the total comes from personal expenditure by Filipino consumers not covered by insurance policies.
