As American Insurance Group's (AIG) sale of American International Assurance (AIA)to Prudential PLC moves forward, Prudential has agreed to pay American Insurance Group a fee of GB£153 million (US$231 million) should the deal for Asian life…
CIGNA International is to begin offering an international health assessment tool to help identify health risks for expatriate employees. The preventative tool is aimed at identifying areas of health risk for employees that may endanger their work assignment, and comes with any CIGNA International Expatriate Benefits (CIEB) standard health plan to fully insured…
The Executive Director of Insurance Supervision at the Monetary Authority of Singapore, Mr. Low Kwok Mun, said insurance products need to be more transparent to consumers in an address to the Life Insurance Association of Singapore at their annual general meeting on March 3rd. In his address Mr. Low said that while members of the Life Insurance Association (
The Insurance Authority of Hong Kong is said to be analysing the potential impact to the local insurance market resulting from the combination of AIA and Prudential. Of particular interest, whether this deal could diminish the choices of insurance products and services in the market, and what impact would it have to policyholders of the two insurance companies.
Sino Life Insurance Co. has been granted permission by the Chinese Insurance Regulatory Commission (CIRC) for a new branch in Jianxi province as well as approval for changing shareholders. With the CIRC's go-ahead, current Sino Life shareholder Shenzhen Wuxin Yufu Industrial Co. Ltd. is to transfer the entirety of its 180 million shares to Shenzhen International…
Lloyds Banking Group plc (LBG) of the UK has sold 70% of its stake in esure, an Internet-based insurer, for approximately US$289 million. With this sale, LBG intends to regain focus on its core general insurance business through its brands of Halifax and Lloyds TSB.
The Saudi Arabian Monetary Agency (SAMA) has licensed AXA Cooperative insurance Company to carry out its cooperative insurance and reinsurance business in the Kingdom of Saudi Arabia (license number TMN/25/20101). AXA Cooperative Insurance Company, a Saudi joint stock company, will be AXA Group's first Cooperative insurance company…
In early 2008, prior to the global financial meltdown of September, which caused the collapse of such esteemed institutions as Lehman Brothers, the Chinese government announced a series of reforms entitled "Healthy China 2020." The goal of these comprehensive healthcare reforms was to institute national medical coverage which…
London-based Financial services company, Prudential P.L.C. is in talks over purchasing AIG's Asian life insurance business, American International Assurance. Although the deal has not been finalized yet, it would see Prudential buy American International Assurance or AIA for…
Max Bupa Health Insurance, the general insurance joint venture between Max India and Bupa has been given its Certificate of Registration or R3 form, by India's Insurance Regulatory and Development Authority (IRDA). This brings the total number of general insurers registered in India…
English