Though saddled with ongoing global economic challenges, moribund interest rates and intense competition, insurance companies will need to focus on innovation, sound business practices and emerging market opportunities in order to generate growth and profits going forward, according to a new report from international consulting firm Deloitte. Released today, Deloitte LLP's "2012…

Hong Kong has announced new measures this week to liberalize yuan capital requirements for local banks in a bid to promote the city-state's status as China's main offshore currency centre. This move will likely result in more yuan-denominated insurance products and retirement funds becoming available in Asia's premier insurance market soon. On Tuesday, the Hong Kong Monetary Authority (HKMA), the…

A special report released today by international insurance information and credit ratings agency AM Best has provided new analysis on both the opportunities and challenges facing insurers, consumers and regulators in India's emerging insurance market as we head into 2012. At present, India's insurance market is composed of 23 different life and 24 non-life companies, with a total value estimated at…

Starting January 1st 2012, visitors from Mainland China are allowed to travel to nearby Taiwan for the express purpose of medical tourism. The first application made by Chinese travelers seeking medical treatment has already been submitted to Taiwan's National Immigration Agency and many more are now expected to come throughout the year to take advantage of the cross-strait healthcare advantages made…

India's Prime Minister Manmohan Singh made news this week with the announcement of a new state pension and life insurance scheme designed to cover the country's large expatriate workforce. The move looks to fulfill a long-standing demand of the prolific non-resident Indian diaspora and could encourage the country's millions of overseas workers, especially the many now working in the Gulf states, to…

US health insurance giant CIGNA Corp. is launching a new collaborative medical care initiative with a New York-based physician group that aims to deliver improved medical access and outcomes at reduced cost for members and will work in a similar manner to the accountable care organizations outlined by the Obama Administration's health care reform law. Accountable care organizations, commonly referred…

China may be home to one of the world's fastest growing insurance markets but unless the country's insurance sector can address some fundamental issues going forward, insurers will not be able to capitalize on the market's profound business potential moving into 2012 and beyond. This is all according to Xiang Junbo, the head of the China Insurance Regulatory Commission (CIRC), who had strong words…

Fresh analysis released this week by one of the world's foremost industry information and ratings agencies, Standard & Poor's (S&P), reveals the challenges and opportunities that players in the Saudi Arabia insurance market will likely face throughout 2012 and beyond. In 'Underwriting Sustains…

There continues to be continued uncertainty over whether, as well as how, China is going to include foreign workers in the nation's social security scheme, with only 3 cities so far, including the nation's capital, having committed themselves to registering and taxing foreign employees. The inclusion of foreigners in China's social security taxation structure is part of

Cigna & CMC Life Insurance Co., Ltd., Cigna's Chinese joint venture company, is adding a new product to its portfolio. The new health management product named Cigna & CMC CARE+ will afford policyholders of Cigna & CMC's high end health insurance plans access to a number of new services and benefits. As a joint venture between Cigna and China Merchants Group, Cigna & CMC operates as a health, life…