Japanese life insurers are looking at higher-return investments overseas such as financing airplanes and power plants to combat falling yields at home. Investment managers at major private-sector insurers described plans to buy more foreign assets in place of Japanese government bonds, many of which now carry negative yields, stated a...
China’s Anbang Insurance Group Co. has reached a deal to buy the operations of Germany’s Allianz SE in South Korea, a few days after it walked away from a USD14-billion bid for Starwood Hotels & Resorts Worldwide Inc. Anbang will pay more than USD3 million for Allianz Life Insurance Korea...
Lloyd’s has officially opened the doors of its new co-located Sydney hub which is aimed at extending its market profile and physical presence in Australia. The new Sydney facility was opened by British consul general and director general of UK Trade & Investment, Nick McInnes. Lloyd’s is initially sharing the...
Hong Kong insurers may be affected after the China Insurance Regulatory Commission (CIRC) warned mainland residents about the risks of purchasing insurance products in Hong Kong, as the yuan weakened. Analysts said the warning is to defend local insurers which lost business as a result. The CIRC issued a statement...
Suncorp has invested USD5 million into US fintech start-up Trov as part of a partnership that will see the developer’s on-demand insurance app launch in Australia in a month. San Francisco-based Trov has managed to generate equity totalling USD25.5 million in its latest round of fundraising, building on an existing...
AXA Philippines announced it has completed the acquisition of Charter Ping An Insurance Co. (CPA) for USD45.6 million from GT Capital. The acquisition of CPA, the fifth largest non-life insurer in the Philippines, enables AXA Philippines to offer property & casualty insurance products alongside its current range of life &...
India’s nuclear power agency has cleared a long-delayed insurance policy for all 21 reactors. This marks a significant step in the country’s plans to become a serious contender in the world’s top nuclear power generators. Officials said the insurance policy was cleared by the board of the Nuclear Power Corporation...
The Taiwanese government has published a study that shows areas that highly susceptible to structural collapse in the event of an earthquake. The study examines eight cities and counties. The study was ordered after a mid-strength earthquake killed 116 people in a collapsed apartment tower. That prompted a wide-ranging examination...
New data has revealed that 1.4 billion people in South Asia, 81 percent of the region’s population, are acutely exposed to at least one type of natural hazard and live in areas considered to have insufficient resources to cope with and rebound from an extreme event. The research, released by...
Horizons Ventures, a private investment arm of Hong Kong business magnate Li Ka-Shing, has pumped in US15 million in its second investment round in German insurance technology start-up Friendsurance. Joined in by other strategic investors and business angels from Asia and the US, the latest funding round is claimed to...
