The Insurance Regulatory Development Authority of India recently set up a committee to identify a Domestic Systematically Important Insurer (D-SII) and institute an enhanced regulatory framework for such organisations. The Life Insurance Corporation (SII) will most likely fall in this category. However, insurance sector officials are not sure whether any...
Pak-Qatar Family Takaful recently signed an agreement with Ensur (a project management and consulting company in Brussels, Belgium), which will enable the company to provide advisory services to the insurance consultant. Ensur is studying the opportunity to introduce Takaful insurance to Belgium and surrounding countries, and wants to get an...
Jammu and Kashmir Bank on Sunday has proposed the sale of its stake in PNB Metlife India to private equity player Oman India Joint Investment Fund II for INR185 crore. The bank has executed share purchase agreement with Oman India Joint Investment Fund II for sale of 4.1 crore shares...
The Australian Prudential Regulation Authority (APRA) has released its annual Policy Priorities document, outlining its areas of intended policy focus over the next 12 to 18 months. As well as building on several substantial pieces of work commenced last year, APRA’s near term policy agenda will be shaped by its...
Howden, part of the Hyperion Insurance Group recently announced that it has agreed to acquire a strategic stake in Malene Insurance Brokers Sdn. Bhd, a niche broker in the energy and power sector, and a takaful operator. Malene will join Howden’s other Malaysian business, CIMB Howden Insurance Brokers Sdn. Bhd....
True North Capital, a private equity firm has acquired Max India’s 51 percent stake in health insurance company Max Bupa Health Insurance. True North was leading the race to acquire Max Bupa and was in talks with the promoter for the past five months, according to a report in Money...
Investment firm The Carlyle Group has announced it has acquired a nine percent stake in SBI Life Insurance Company Ltd. SBI Life is the life insurance subsidiary of the State Bank of India. Carlyle’s equity for this investment came from CA Emerald Investments, an affiliated entity of Carlyle Asia Partners V,...
Insurance Australia Group (IAG) has sponsored Asia-Pacific’s first catastrophe bond as part of its 2019 catastrophe aggregate reinsurance cover and represents the first such transaction by the company. The move highlights the potential of the insurance linked securities (ILS) market in the region, and is aligned with Singapore’s efforts to establish...
Philippines president Rodrigo Duterte recently signed the Universal Healthcare Law. Speaking to members of the Philippines’ House of Representatives after signing the bill, Duterte said, “By automatically installing our citizens into the National Health Insurance Program and expanding health coverage to include free medical consultations and laboratory tests, the Universal...
Thailand’s tourism officials are looking at introducing compulsory travel insurance for international visitors in the near future, especially as a recent spate of accidents involving tourists have cast the spotlight on the country’s safety and security records. Surging visitor numbers into Thailand has intensified the challenge of unpaid medical treatment...
