The Insurance Regulatory and Development Authority of India (IRDA) announced that will soon allow private insurance companies to put forth their initial public offerings (IPOs), and raise funds through the stock market to further fund their individual expansion plans. Speaking at the 14th Annual Conference on Insurance, 'India Insurance: Turning 10, Going on 20', IRDA Chairman Mr J. Hari Narayan stated…

Goldman Sachs has successfully bought a 12.02 percent stake in Taikang Life Insurance Co Ltd, China's fifth-largest insurer by premiums. Announced in a joint statement on Friday, April 8th 2011, the acquisition gives the US Investment bank a long-sought-after foothold in the world's largest insurance market. "The two companies will strengthen cooperation in corporate governance, risk management, investment…

Allianz Lanka Ltd., a wholly-owned Sri Lankan subsidiary of financial services conglomerate Allianz Group of Germany, has posted good results for its 2010 operations. The new annual report details the company's substantial growth in both the life and general insurance trade on the island nation despite being the only Sri Lankan insurer currently without a captive insurance business. The Sri Lankan…

ACE Limited, the Swiss insurer operating in over 50 countries, has successfully completed the acquisition of all shares in both New York Life's Hong Kong and South Korean wholly-owned life insurance subsidiaries for a combined US$425 million in cash. The purchase agreement between the two conglomerates…

Kuwait's national healthcare system is set to undergo substantial reform and transformation in the next 3 to 4 years under the new Kuwait Health Assurance Company (KHAC), affecting both nationals and expatriates who look for health coverage options in the country. Kuwait is looking to evolve its health services policy from a welfare state into a 'healthcare business.' KHAC was established in 2010…

Starting April 1st 2011, private health insurance premiums in Australia are set for an average cost increase of 5.56 percent across the board. The average premium for families is due to rise AU$2.88 per week and Australians are projected to cumulatively spend an extra AU$821 million per year for their private health insurance options. Individuals will pay around an additional AU$75 annually and combined…

Cigna Inc, the leading international group health insurer for expatriates and other individuals traveling abroad, was today granted a license to operate in the Singapore health insurance market. The move reaffirms the company's commitment to developing its international business…

Bahrain National Holding (BNH), the parent company of both Bahrain National Insurance and Bahrain National Life Assurance, held its annual shareholder meeting at BNH Tower this past Tuesday, March 29th 2011. Despite the general political tension occurring in the region, BNH's progress has remained undeterred and the firm plans on continuing the expansion of its operations throughout the Gulf. BNH…

Hong Kong, this week, has again raised the issue of so-called "maternity tourists," and is questioning how to best fix the strain that an influx of Chinese mothers seeking to give birth in the city is placing on the SAR's healthcare system. Following hot on the heels of the announced closure of a Maternity…

Chinatrust Financial Co. Ltd, Taiwan's third-largest financial services provider by assets, has agreed to purchase US-based MetLife Inc's Taiwanese life insurance unit for US$180 million. With the acquisition of MetLife Taiwan, Chinatrust will finally be able to enter the life insurance market it has long coveted. The…