The Asian insurance markets continue to witness positive changes in the insurance industry in the form of Swiss giants Ace finalizing agreements for an Indonesian acquisition and the Aetna group expanding its products within the Singaporean market. Zurich based Ace Group was established in 1985 when it was created by its policyholders to provide excess liability and directors and officers coverage.…
Malaysia, one of the world's most populated Islamic Countries, is experiencing something of a renaissance on the insurance front. However, it's not just any insurance products which are doing well in the country however, although the Malaysian insurance market is attracting large amounts of interest from some of the world's largest…
A number of new developments in the International Private Medical Insurance (iPMI) market were announced recently, which will see at least two internationally renowned insurance providers enhance the scope of their available coverage options. ALC Health has expanded and improved the coverage and benefits of the international health plans in their Prima line of products. Meanwhile Clements Worldwide,…
As the Euro zone debt crisis continues to take its toll on economies and industries, some European insurers may be experiencing a decrease in their solvency ratios and recent credit ratings appear to be reflecting this as a result. Low interest rates and unstable markets have impacted the means by which insurers generate their income, and whilst Europe's top 20 insurers are currently maintaining stable…
As Europe remains to be a place of economic uncertainty, Asia continues to provide Health insurers opportunities for investment and expansion. Asia is home to the largest number of high net worth individuals and with 3.3 million people now owning liquid assets worth at least USD $1 million, the continent has overtaken Europe and is second only to North America in terms of wealth. Several of the less…
Following our October 26th, 2011 announcement in relation to the planned cancellation of AVIVA Global Lifecare plans, Globalsurance.com can now confirm that policyholders are being denied the option to renew their Global Lifecare policies. AVIVA customers who have developed pre-existing conditions whilst on their policies…
Fortis Healthcare has received board approval for their plans to list their Religare Health Trust on the Singapore stock exchange. Meanwhile, the bidding process for the Asian insurance business of ING Groep has moved into the second stage, with a number of contenders making the short list. As a business trust, the Religare Health Trust will contain assets from Fortis' radiological testing and…
Sun Life Assurance has formed a joint venture with PVI holdings in Vietnam, while Zurich Insurance Group is eyeing an entry into the highly profitable Saudi Arabia insurance market. Zurich Insurance Group has had a stellar start to the year. The group has posted Q1 2012 net income at US$1.14 billion, significantly improved from the US$640 million that Zurich reported as net income in Q1 2011. Zurich's…
On October 15th 2011, China's Ministry of Human Resources and Social Security put in place new regulations which required foreign employees working in China to contribute to the country's Social Insurance System. The regulations stated that foreign employees would have to register after employment and start paying towards five types of insurance policies, including basic pension insurance,…
Two international health insurers have made minor adjustments to their health plans. Both AXA PPP International and Now Health international have made changes, mostly to their international group health insurance plans, in order to increase their appeal to corporate customers. Now Health International has moved to modify their mid-range group insurance plan, WorldCare Advance, to offer routine dental…
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