Official retirement ages across Asia are out-of-date and need to be raised say the majority of Asian investors, according to new research from Manulife. The findings, taken from the Manulife Investor Sentiment Index survey for the first quarter of 2014, show that just over half the Asian investors surveyed region-wide...
In view of the extraordinary circumstances surrounding the disappearance of the ill-fated Malaysian Airlines aircraft MH370, the life insurance companies in Malaysia had taken a consolidated and proactive approach in expediting the claims process of compensation payouts to the family members of passengers with life insurance on board MH370. Payments...
Temasek, Singapore's state-owned investment firm, and RRJ Capital Ltd have agreed to invest USD1.8 billion in the insurance business of the Amsterdam-based ING Group before the unit's IPO. RRJ will invest USD1.041 billion, while Temasek will invest a total of USD728.85 billion on NN Group, the insurance unit of ING....
Japan Post Insurance is ramping up its investment in Japanese stocks and foreign bonds in a move that shows the government-controlled insurer is betting on the success of Prime Minister Shinzo Abe's policies in pursuit of higher returns, according to a Reuters report. The country's largest insurer, which has the...
Nippon Life Insurance Co announced it has agreed to buy a 20 percent stake in Indonesia's Sequis Life for USD423.9 million, joining its Japanese peers who are expanding in rapidly growing Southeast Asian markets. PT Asuransi Jiwa Sequis Life, part of Indonesian conglomerate PT Gunung Sewu Kencana, is a middle-sized life insurer with...
Indian reinsurer GIC Re is all set to diversify its risk by expanding into South Africa to acquire Saxum Re. The reinsurer is contemplating the move in the event of being affected by recent global accidents including claims resulting from the missing aircraft of Malaysian Airlines. Johannesburg-based Saxum Re is...
Fitch Ratings has affirmed Malaysia-based Etiqa Insurance Berhad’s (EIB) Insurer Financial Strength rating at ‘A’ with a stable outlook. The rating reflects EIB’s solid capital strength, favorable underwriting margin, and sound liquidity. The rating also considers the company’s extensive distribution coverage and its strategic status as one of the core...
Catlin Group Limited announced the formation of the General Aviation Consortium at Lloyd's Asia to write general aviation insurance and reinsurance risks based in the Asia-Pacific and Middle East regions. The Consortium offers a comprehensive solution for general aviation risks by providing 100 per cent capacity for aircraft with up...
FWD Group has announced it has been granted a license to operate its life insurance business in the Philippines. The business, operating in the Philippines as FWD Life Insurance Corporation, is the first foreign life insurance company since 2004 to have been issued a license by the Insurance Commission of...
The Philippine non-life insurance sector is going through a transition as it scales up to meet higher capital requirements under a new regulatory code. Challenging market conditions, with little driving momentum in the industry, has left many insurers feeling pressured as they cope with capital hikes. A.M. Best believes market...
