QBE Insurance Group Ltd. returned to a full-year profit as its North American underwriting operations recovered and there was no repeat of the hefty impairment charges recorded a year earlier. Still, the Australian insurer said it expected the strengthening US dollar to weigh on its gross written premiums in 2015,...
Moody's Japan K.K. says its outlook for the Japanese property and casualty (P&C) insurance industry is stable, because of improved underwriting profitability mainly due to ongoing auto insurance re-pricing; expected improvement in cost efficiency through group reorganisation and improving capitalisation and risk reduction efforts. "This re-pricing reflects the lingering effects...
The Financial Services Agency is looking to introduce the regulations on so-called insurance shops in the spring of 2016, in conjunction with the rollout of a revised insurance law. The shops, which sell policies from 30 to 50 insurers, will have to show customers charts that let them compare the...
The Insurance Regulatory and Development and Authority (IRDA) has said new players have evinced interest in entering the insurance sector after the government increased the sectoral FDI cap to 49 per cent. In December last year, the government through an ordinance hiked the foreign investment cap in the insurance sector to 49 per cent,...
Life insurance companies in Malaysia paid out MYR16.80mil in insurance claims to the next of kin of passengers and crew members on board Malaysia Airlines flight MH370. The Life Insurance Association of Malaysia (LIAM) said recently the insurers had settled almost all life insurance claims payments, adding for life policies,...
Seeking to increase insurance penetration in the country, the Reserve Bank has allowed banks to act as brokers for insurers, set up their own subsidiaries and also undertake referral services for multiple companies. The banks have also been allowed to set up subsidiaries and joint venture companies for undertaking insurance...
Observing policyholders' right to effect changes in nomination, sectoral regulator IRDA is proposing to do away with the practice of charging fee for such alterations by life insurance companies. The insurance Regulatory and Development Authority of India in a draft on 'Fee for Registering Cancellation or Change of Nomination by...
The federal government is likely to announce a rise in private health insurance premiums. Private insurers want a boost of up to seven per cent this year and Health minister Sussan Ley will consider their applications. Prime Minister Tony Abbott said in the end, it's a commercial decision, telling Fairfax...
Taikang Life Insurance Co., the Chinese insurer backed by Goldman Sachs Group Inc., plans to seek more than USD2 billion from a Hong Kong initial public offering. The Beijing-based company plans to start the offering as early as in the fourth quarter, sources said to Bloomberg. Taikang has yet to seek regulatory...
PartnerRe Ltd. has announced that Partner Reinsurance Asia Pte. Ltd, a wholly owned subsidiary of PartnerRe Ltd. has been licensed by the Monetary Authority of Singapore (MAS) to operate as a non-life and life reinsurer, capitalised in Singapore. As of April 1, 2015, PartnerRe Asia will be the principal reinsurance carrier for PartnerRe's business...
