Sea, one of south-east Asia’s largest technology companies, is preparing a move into Indonesia’s insurance sector. The company is preparing to acquire an insurance company in Indonesia, according to two people close to the deliberations, stated a Financial Times report. One of the people said a likely target was Asuransi...
In order to further optimise the allocation structure of insurance assets, improve the quality and efficiency of insurance funds serving the real economy and prevent investment risks, the China Banking and Insurance Regulatory Commission recently revised and issued a notice on the investment of insurance funds in relevant financial products....
Sunshine Insurance has applied to list in the Hong Kong exchange and may endeavour to raise funds up to USD2 billion, which would could result in the biggest initial public offering of the year so far, according to two sources familiar with the deal. The mainland Chinese insurer has submitted...
Howden Insurance Brokers (S.) Pte Ltd has announced the acquisition of the business and assets of AEGIS Insurance Agencies Pte, a Singapore based specialist insurance agency. This reinforces Howden’s commitment to the Asian market and its ongoing strategy to invest expertise to deliver tailored (re)insurance solutions that are expertly adapted...
Generali has completed the acquisition from Future Enterprises Limited of 25 percent of the shares of Future Generali India Insurance (FGII) and will now hold a stake of around 74 percent in FGII. The deal strengthens Generali’s position in fast-growing markets. Generali is the first player among international insurers to...
The Insurance Authority (IA) has released provisional statistics of the Hong Kong insurance industry for 2021, showing a mild decrease of total gross premiums by 0.9 percent to HKD602.7 billion over 2020. Total revenue premiums of in-force long term business were HKD540.8 billion in 2021 (decreased by 1.3 percent), mainly...
The Financial Services Authority (OJK) has issued a more stringent regulation on unit-linked insurance, following a string of protests from policyholders over the past few months. A recent circular replaced a 2006 regulation on unit links, according to a report by the Jakarta Post. The new regulation lays out new...
Insurance Regulatory and Development Authority of India (IRDAI) recently signed a Memorandum of Understanding (MoU) with International Financial Services Centres Authority (IFSCA) for cooperation and coordination with respect to exchange and sharing of information, knowledge for effective supervision. The MoU was signed to ensure that the operations of regulated entities...
The Insurance Council of Australia (ICA) has welcomed the passage of legislation to enable the establishment of a Reinsurance Pool for cyclone and cyclone-related flood for homes, strata corporations and small businesses. The Australian Reinsurance Pool Corporation (ARPC) will now release its pricing schedule to give the sector time to...
The China Banking and Insurance Regulatory Commission (CBIRC) recently issued the Implementation Measures of the Rules on Reserve of Non-life Insurance Business of Insurance Companies (No.1-7). The main contents of the Implementation Measures include clarifying the principles and methodology of reserve assessment, and requiring insurance companies to use reasonable methods...
