Country: Asia Pacific Page 652 / 655
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- May 6 2015
Job cuts loom after Allianz Australia takes over TIO
The sale of TIO’s insurance arm to Allianz was approved by the Australian parliament.
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- May 6 2015
Manulife to open 18 branches in the Philippines, eyes raising market share
10 branches to be opened this year and a further eight scheduled in 2016.
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- May 5 2015
10 South Korean life insurance firms offering poorly written contracts
Contracts assessed based on clarity, brevity and comprehensibility.
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- May 5 2015
Bangladesh insurers seek withdrawal of insurance policy tax
Gains from life insurance policies urged to be withdrawn.
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- May 5 2015
Japan mulls mandatory insurance for drone operators
Seen as part of the overall plan to regulate drone operations in the country.
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- May 5 2015
Peak Re makes good underwriting progress in 2014
After-tax profits came in at US$42 million.
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- May 4 2015
Fosun strikes US$1.8bn deal with US insurer Ironshore
Fosun already owns 20% of the casualty and property insurer, which it bought in August 2014 for US$464m.
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- May 1 2015
Maybank Ageas seeks to acquire insurance firms in Indonesia, Philippines
Discussions have been taking place with a number of parties for possible acquisitions.
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- May 1 2015
Aegon, and Tsinghua Tongfan invest in Chinese life insurer
Potential of China’s life insurance market attracts investment.
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- May 1 2015
Thailand expands crop insurance program to help rice farmers
Budget for compensation of insured rice fields set at THB476m (US$14.5m).
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- April 30 2015
Vietnam life insurance industry’s growth hits 5-year high
Total premiums, VONB and number of contracts signed surge.
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- April 29 2015
Financial strength ratings of 9 Japanese insurers downgraded
Fitch Ratings stressed that an upgrade of any of the insurers was unlikely in the near future.
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- April 29 2015
Bangladesh to see first insurance JV if Mitsui Insurance gets license
Japan's largest insurance company, reportedly in talks with insurance regulators in Bangladesh.
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- April 29 2015
Global experts to discuss disaster insurance coverage
APEC meeting also looks at strategies to widen the penetration of micro-insurance products.
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- April 28 2015
Korea’s Hanwha Life seeks to hire 650 more consultants in Indonesia
Additional outlets planned as more Korean Life Insurance Companies look to expand overseas.
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- April 28 2015
Nepal earthquake to expose developing nations’ low insurance penetration
Spending on property-casualty coverage less than US$4 per capita annually.
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- April 28 2015
China sets charges for deposit insurance scheme
Scheme unlikely to have a major impact on banks and premiums.
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- April 27 2015
Philippine nonlife insurance industry’s net income rises in 2014
A decline in frequency and severity of natural calamities attributed.
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- April 27 2015
Berkshire Hathaway names Australasia insurance head
Chris Colahan joins BHSI from RSA Insurance Group.
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- April 27 2015
India’s largest reinsurer assessing earthquake losses in Nepal
GIC Re sends a team of 10 surveyors to Nepal.
