Industry Segments: Life Page 1 / 52
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- September 17 2024
Taiwan’s regulator blocks CTBC Financial’s US$4.1bn bid for Shin Kong Financial
The regulator's rejection now paves the way for the conglomerate's merger with Taishin Financial. Still, a merger will have little impact to Shinkong Insurance, Taiwan’s third-largest P&C insurer, whose biggest shareholder is separate and independent from the conglomerate.
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- September 9 2024
HKIA to prioritise RBC review and re-domiciliation regime, says chairman
The Hong Kong Insurance Authority is aiming to attract insurers and brokers to place larger business volumes in Hong Kong, as it seeks to attract more overseas insurance groups to relocate their headquarters to the city, says chair Stephen Yiu.
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- August 22 2024
Central Bank of India wins bid for minority stake in Generali’s Indian JVs
The state-owned lender will acquire the stakes held by the insolvent Future Enterprises in the life and P&C businesses majority owned by the Italian insurance giant for a reported US$60.5m.
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- August 19 2024
Central Bank of India set to acquire stakes in Future Generali P&C and life units: report
This acquisition is part of the bank's strategy to expand its presence in the insurance sector. The stakes, to be bought from debt-laden Future Enterprises, is expected to be announced soon, according to the Economic Times.
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- August 15 2024
Sri Lanka’s insurance watchdog outlines reinsurance, risk-based capital reforms
The regulator also plans to introduce a legal framework for the sale of micro-insurance products, and issue revised guidelines on reinsurance in an attempt to improve the country's low insurance penetration rate.
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- August 2 2024
Talcott secures first Japan flow reinsurance deal with Dai-ichi Frontier Life
The global life reinsurer Talcott announced the appointment of Yasuhisa Watanabe as chief representative, Asia Pacific.
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- August 1 2024
Axa Philippines elevates Ayman Kandil to CEO and president
Kandil, who was chief distribution officer for the carrier in Manila, will take on the new role in October replacing Bernardo Serrano, who will be transitioning to a new role within the group by end-September.
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- July 26 2024
Income parent assures of commitment to Singaporeans amid backlash over Allianz deal
Chairman of NTUC Enterprise, the largest shareholder, said that the US$1.6bn Allianz' offer will not alter its "social commitments", and that it will continue to be an active shareholder.
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- June 17 2024
Chinese insurtech Yuanbao eyes US listing
The Beijing-based online broker is seeking approval from China's securities watchdog to issue up to 64.5 million shares on a US stock exchange.
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- June 14 2024
Malaysian Re and Pacific Life Re extend MoU on family retakaful market
Both companies aim to unlock new possibilities through the renewal of MoU on shariah-compliant life insurance solutions.
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- May 31 2024
Hong Kong 2024 Q1 P&C underwriting profit doubles to US$132m
The improvement came despite the sector’s total gross claims rising 12.1% as insurers in the city benefited from the release of prior-year reserves, the Hong Kong Insurance Authority said.
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- May 22 2024
Income Insurance exploring strategic options for APAC expansion: Bloomberg
The Singaporean insurer had provided liquidity to almost 16,000 shareholders for holdings worth US$619m through a private exchange listing last month.
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- May 17 2024
Beat Strebel to take charge as Swiss Re China CEO
Currently head of P&C reinsurance for Middle East & Africa, Strebel has takes over from Ivan Gonzalez, who has been elevated to CEO of Swiss Re CorSo.
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- May 13 2024
Reliance General Insurance owner’s acquisition approved by regulator: report
IRDAI has approved the Hinduja Group‘s acquisition of Reliance Capital's 3 insurance units before the May 27 deadline but under conditions on share transfers and encumbering.
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- April 5 2024
HSBC elevates Ed Moncreiffe to CEO of global insurance
Daisy Tsang, chief distribution and customer officer, will be the interim CEO for HSBC Life Hong Kong until a permanent replacement is announced.
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- April 4 2024
Suncorp exits New Zealand life arm for US$244m to focus on P&C business
Resolution Life will acquire the Australian insurer-owned Asteron Life and the deal is expected to be completed in nine months.
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- March 12 2024
Scor restructures P&C, life & health with regional heads
Under the restructuring, Mukul Kishore will head the reinsurer's P&C business for Asia Pacific, while Chloe Wang and Dion Russell will head up life & health markets.
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- February 29 2024
Chubb New Zealand country president Andrew Brooks leaves
Auckland-based Brooks has accepted a six-month contract role at Insurance Advisernet as national manager partnerships & development, effective March 4.
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- February 27 2024
Allianz Insurance Lanka promotes Prashant Grover to CEO
Grover assumed his new role from February 1, taking over from Alan Smee who is leaving the company for personal reasons.
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- February 23 2024
Zurich Asia property & casualty FY2023 GWP up 11% on travel business recovery
Asia Pacific's operating profit rose 18% primarily due to growth in life business, while higher commission rate linked to its travel business sales weighed on P&C combined ratio.
