Japan’s Mitsui Sumitomo Insurance Co plans to increase investment in risky assets by JPY30 billion (USD268.36 million) in the second half of this financial year, a senior company executive has said. Foreign stocks and debt, and private equity fall under the category of risky investment. The main arm of MS&AD...
Taiwan and India have expressed interest in cooperating on healthcare in several areas, including national health insurance systems and health information technology, during a visit to India by a Taiwanese health delegation. The countries also showed interest in working together on the development of Asian traditional medicines and epidemic prevention,...
ICICI Lombard, the joint venture between ICICI Bank and Fairfax Financial Holdings is set to debut on the bourses shortly. It has set final issue price at INR661 per share, the higher end of price band of an INR5700 crore issue. Analysts don’t expect strong listing gains as the initial share sale offer...
Malayan Banking Bhd’s wholly owned subsidiary Etiqa International Holdings Sdn Bhd has completed the acquisition of 75 percent shareholding in PT Asuransi Asoka Mas for IDR207.2 billion. The group announced in a filing with Bursa that it had acquired 750 million shares in the Indonesian general insurance company from PT...
Great Eastern Holdings Ltd is reportedly planning to dispose of its stake in its Malaysian operations for as much as USD1 billion. According to The Wall Street Journal, the Singapore-listed insurer had already engaged a Malaysian bank to discuss the potential deal. Great Eastern is an 87 percent-owned subsidiary of...
AIA Group has agreed to buy Commonwealth Bank of Australia’s life insurance business for AUD3.8 billion (USD4.12 billion) in its largest acquisition, making the Hong Kong-based company the largest life insurer in Australia and New Zealand. AIA will team up with Commonwealth Bank for 20 years under the deal to provide...
Nippon Life Insurance Co [NPNLI.UL], is in talks to buy a majority stake in the domestic unit of US-based MassMutual Financial Group in an attempt to boost its bancassurance sales, according to sources. The Nikkei business daily, which first reported the talks, said Nippon Life was likely to pay JPY100...
India’s SBI Life Insurance Co. plans to raise as much as INR84 billion (USD1.30 billion) in what could be the largest initial public offering in the south Asian nation in seven years. The share sale of SBI Life — a joint venture between the nation’s biggest lender State Bank of...
Wholly foreign- owned insurance companies in Malaysia that dominate the multi-billion-dollar sector are being encouraged to partner with local firms to conform with the country’s strict ownership laws. Based on a directive issued in April by the central bank, Bank Negara, companies such as AIA, Great Eastern, Prudential and Tokio...
The Cabinet of ministers has approved health insurance cover for school children. According to a statement released by the Cabinet, Budget 2017 proposed to provide a free insurance cover of LKR200,000 for 4.5 million school children in the age of 5-19 years and allocated LKR2,700 million for the purpose. The...
