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Philippines launches national insurance indemnity program for asset protection
The Philippine government, led by the Bureau of Treasury, has launched the National Insurance Indemnity Program (NIIP) to insure strategic government assets, particularly school buildings, InsuranceNewsAsia.com has reported. Finance Secretary…
Hong Kong insurance industry sees decrease in gross premiums for Q1 2023
According to provisional statistics released by the Insurance Authority (IA), the Hong Kong insurance industry experienced a 7% decrease in total gross premiums during the first quarter of 2023 compared…
China CITIC Bank, FWD form strategic bancassurance alliance in Macao
China CITIC Bank International Limited (CNCBI) and FWD Hong Kong (FWD) have announced a novel bancassurance partnership in Macao, offering an all-inclusive suite of insurance products and services. The partnership…
Ageas to sell French life insurance, savings, pension business to Carac
International insurance group Ageas has announced the sale of its French life insurance, savings, and pension business to La Mutuelle Epargne Retraite Prévoyance Carac (Carac), following consultation with employee representatives.…
Chubb Names Peter Kelaher ANZ President
Chubb, the world’s largest publicly traded property and casualty insurance company, has named Peter Kelaher as its country president for Australia and New Zealand. In his new role, Kelaher, who…
Why You Need Insurance When You Buy A Motorcycle
If you’re planning to buy a motorcycle, you might be doing a lot of research for deciding the best style model and specifications that suits you the best. However, there…
Thai Insurance Broker gettgo Gets $6.7m Funding from Muang Thai Group
Thailand-based insurance broker gettgo has secured $6.7 million funding from its parent company Muang Thai Group Holding Co as it aims to reach $33.3 million of premium in the next…
VietinBank, Manulife Ink Exclusive 16-year Bancassurance Deal
Vietnam Joint Stock Commercial Bank for Industry and Trade (VietinBank) and Manulife Financial Corporation (Manulife) are pleased to announce that an agreement has been signed between VietinBank and Manulife (Vietnam)…
Manulife Reports 3Q20 Net Income of $2.1 billion
Today, Manulife announced its 3Q20 results. Key highlights include: Net income attributed to shareholders of $2.1 billion in 3Q20, up $1.3 billion from 3Q19 Core earnings of $1.5 billion in…
AIA Gets Mainland China Approval for Subsidiary
HONG KONG – AIA Company Limited has received approval from the China Banking and Insurance Regulatory Commission to convert its Shanghai Branch into a wholly-owned subsidiary of AIA Co. This…
Great Eastern Partners with Axiata Digital for Insurtech Solutions
Financial technology (fintech) service provider Axiata Digital Capital and Great Eastern have signed a strategic partnership to provide affordable and customised insurance and takaful products for consumers, micro-entrepreneurs, and SMEs.…
Catalina Holdings to acquire Asia Capital Reinsurance Group
Catalina Holdings (Bermuda) Ltd (“Catalina”), an industry leader in the legacy (re)insurance space, has reached an in principle agreement to acquire Asia Capital Reinsurance Group Pte. Ltd. (“ACR”), a Singapore-headquartered…
World Bank Insures Philippines Against Natural Disaster-related Losses Up to US$225m
The World Bank (International Bank for Reconstruction and Development or IBRD) has issued two tranches of catastrophe-linked bonds (CAT bonds) in order to provide the Philippines with financial protection of…
Singapore’s Life Insurance Industry’s New Premiums Dip to $2.2bn in 9 Mos
Singapore’s life insurance industry recorded a total of S$3 billion in weighted new business premiums from January to September of this year, data from the Life Insurance Association Singapore (LIA…
Philippine Insurers Team Up to Promote Inclusive Insurance in Asia
MEFIN Inc to facilitate growth of inclusive insurance in Asia Five leading insurance companies in the Philippines have bonded together to form an organization that seeks to promote the growth…
Allianz Announces New Indonesia Leadership Changes
JAKARTA – Allianz today announces the appointment of Joos Louwerier as Country Manager & CEO, Allianz Life Indonesia, where he will oversee the growth strategy and have overall management responsibility…
Prudence Foundation Completes Housebuild Project in Bantayan Island
CEBU, PHILIPPINES – Almost four years after super typhoon Yolanda (international name: Haiyan) ravaged Central Visayas, Prudence Foundation – the community investment arm of Pru Life UK’s regional head office…
SCOR Global Life Gets Japan Branch Office Approval
The Financial Services Agency of Japan (FSA) has granted SCOR Global Life SE approval to open a branch office in Tokyo as of April 4, 2017. The new branch, SCOR…
Michael Ho Named Chubb Life Hong Kong Head
Insurance industry veteran Michael Ho has been appointed country president for Chubb Life in Hong Kong. In an announcement Friday, Chubb said Ho will report to Chubb Life’s regional president…
Chinese Insurance Firms Post 31% Growth in Premium Income
Chinese insurance companies’ premium income rose 31 percent in the first two months of this year to reach Rmb1.19 trillion (about US$173 billion), according to the China Insurance Regulatory Commission…