Country: Asia Page 427 / 436
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- July 1 2015
US regulators okay Fosun’s US$433m insurance acquisition
Chinese conglomerate receives approval from regulators in Michigan and Washington.
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- June 30 2015
Malaysia’s Takaful Ikhlas plans overseas venture by 2020
The KL-based Islamic financial protection provider is planning to venture abroad by 2020.
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- June 30 2015
Philippine deposit insurer to auction 126 bank assets
The PDIC is soliciting sealed bids for 126 properties owned by closed banks nationwide.
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- June 29 2015
Standard Life shuts Singapore business
Firm remains committed to its Asian business with focus on Chinese and Indian partners.
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- June 29 2015
Japan raises quake insurance premiums
Commencing Jan 2017, premiums to be raised by an average of 19%.
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- June 26 2015
Thailand’s actuaries association seeks role in drafting insurance laws
Group seeks to participate in drafting organic laws where it is directly affected.
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- June 26 2015
Malaysia’s BTPN bank seeks life insurance acquisition
BPTN customers currently covered by separate credit life insurance policies.
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- June 26 2015
China trims insurance rates and establishes investment fund
Reduction in certain insurance rates will save Rmb27bn (US$4.43bn) for employers.
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- June 25 2015
Singapore prepares to roll out compulsory health insurance scheme
Ministry of Health initiative gathers pace with household check exercise.
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- June 25 2015
Fubon Financial acquires Hyundai Life Insurance stake for US$199m
Taiwanese financial services firm to acquire stake via its insurance unit, Fubon Life Insurance.
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- June 25 2015
China’s largest P&C insurer gets Moody’s upgrade
IFSR of PICC P&C upgraded to Aa3 from A1, with stable outlook.
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- June 25 2015
ACE Group names new Vietnam country president
Dang Hoang Tung joins multiline property and casualty giant from AIG Vietnam.
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- June 24 2015
Swiss Re becomes first Swiss firm to obtain China’s RQFII licence
RQFII programme allows the reinsurer to gain access to the Chinese financial market.
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- June 24 2015
Allianz launches new products targeting PWDs in Malaysia
Plans to cooperate with NGOs supporting PWDs in distributing the products.
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- June 23 2015
Bangladesh regulator suspends Standard Insurance
Suspension follows failure to reinsure BDT463.3m (US$5.98m) worth of its policies.
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- June 23 2015
Fosun to buy Israeli insurer Phoenix for US$471m
Phoenix Holdings owner, still has the option to cancel the deal if not closed after five months.
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- June 23 2015
India’s general sector posts 12.3% growth in premium collections
The majority of the premium growth came from the four state-run general insurers.
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- June 23 2015
Vietnam’s non-life industry faces shortage of qualified actuaries
Only one actuary in Vietnam said meets the national standards.
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- June 22 2015
Air India seeks insurers for US$9bn insurance cover
State-owned and private insurance companies are expected to join in the aggressive bidding.
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- June 22 2015
Changes sought for Japan Post Insurance Co, ahead of planned IPO
Lawmakers looking to raise the maximum amount of insurance coverage at JPI.
