Ping An Health Insurance Company of China, a wholly owned subsidiary of Ping An Insurance (Group) Company of China, has received approval from the China Insurance Regulatory Commission (CIRC) to set up a new branch in Zhejiang province. Earlier this year, Ping An Health Insurance was also given approval by the central Chinese insurance regulator to open a branch in Jiangsu province. With the…
On Monday July 26th 2010, Fortis Healthcare Ltd. rescinded its SGD 3.2 billion (USD 2.3 billion) offer to buy remaining Parkway shares, leaving the subsidiary of Malaysian sovereign fund Khazanah, Integrated Healthcare…
Alan Merten has been appointed by Manulife Financial Group as the new Chief Executive Officer and President Director of PT Asuransi Jiwa Manulife Indonesia (Manulife Indonesia). Alan Merten has over 20 years of experience working with life insurance, international health insurance, wealth management and pensions. His new position will see him take responsibility for growing Manulife Indonesia's…
The China Insurance Regulatory Commission (CIRC) has cleared Guohua Life Insurance Co. to increase its capital to US$147.5 million (EUR 116 million). This additional capital injection will help Guohua towards creating a foundation that guarantees its sustainable development, having started with an original registered capital of US$44.3 million (EUR 34.9 million).
Munich Re has been licensed by the Dubai Financial Services Authority (DFSA) to open a reinsurance unit called Munich Re Underwriting Agents (DIFC) Ltd. in the Dubai International Financial Center, making it the first of the biggest reinsurance companies in the world to do so. Operating out of the Dubai International Financial Center will allow Munich Re Underwriting Agents to service the entire…
International health insurance company Expatriate Healthcare has announced it will introduce an awards scheme for their customers, which comes as part of an effort to reinvigorate their expatriate private medical insurance plans. As of July 1st 2010, Expatriate Healthcare will offer both new and existing customers discounts on their premium for staying claims-free for a year or more.…
Fortis Healthcare Ltd. has made an offer for all remaining shares in Asian healthcare provider, Parkway Holdings, which surpasses the bid previously put forward by Malaysian government-run bank, Khazanah Nasional Berhad. Previously, Khazanah bid S$ 1.18 billion (US$ 835 million) to more than double its stake…
Being the fourth largest commercial insurer in the US, American health insurance giant CIGNA conducts approximately 20 percent of their business abroad, with most of the rapid growth coming from Asia, and in particular China.
Pan-American Life Insurance Group has received final approval from the Costa Rican insurance regulator, Superintendencia General de Seguros (SUGESE), for its subsidiary Pan-American Life Insurance de Costa Rica, S.A. to operate in the country. Pan-American Life Insurance Group is already the first US…
CIGNA's UK branch, CIGNA Healthcare, has launched SmarterHealth; a new private medical insurance product targeted at mid-sized corporate clients with between 150 and 400 employees. The new product, SmarterHealth, is based on a core list of benefits with the ability to add two coverage options to increase benefits; optional dental benefits which are split into four levels of coverage (Pearl Plan, Diamond…
English