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Apr
13

Q1 Premiums of US$7.5 billion reported by Ping An Life Insurance Unit

Ping An Life Insurance Company of China Ltd (PALICC) reported accumulated written premiums of US$7.47 billion (EUR 5.5 billion) for the first of this year. PALICC is the life insurance unit of Ping An Insurance, which is second only to China Life Insurance (CLI), the Number 1 insurer worldwide by market value.

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Mar
17

AIA and Alico sales herald a New Life Insurance Market Era in Asia

Once the ink dries on the deals for AIG to divest American Life Company (ALICO) and American International Assurance Company (AIA), there will be a stakeholders shift in the Life Market in Asia, as observed by market analysts.

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Mar
11

Fortis Back in the Black announces New Brand Strategy

Reporting a 2009 net profit of US$1.62 billion (EUR 1.19 billion), chiefly due to the profitable performances of its remaining insurance operations, Fortis also announced its re-branding strategy which aims to reflect the transformation it went through during the past year that made it a focused insurance company.

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Mar
10

Costa Rica welcomes First US Insurance Company to join Local Competition

The regulatory agency responsible for overseeing the insurance superintendency in Costa Rica has approved "Pan American Life Insurance de Costa Rica, S.A." as provider of insurance coverage in the country. This makes of Pan-American Life Insurance Group, an international insurance provider and financial planning service based in New Orleans, Louisiana, the first US insurance company to be officially welcomed into the Costa Rican market.

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Mar
04

Monetary Authority of Singapore presses for greater insurance product transparency

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 (

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Mar
03

Sino Life Insurance gets regulator approval for Jiangxi expansion and shareholder change

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…

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Mar
01

Prudential in negotiations to buy American International Assurance

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…

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Feb
24

American International Group May be on the Road to Recovery

American International Group may be on the road to recovery 17 months after the company received a US$ 182.3 Billion bailout from the American government at the peak of the global financial crisis of 2008/2009. AIG, whose failure threatened to collapse the USA's economy, has improved its means to repay the bailout which it received through increased sales in the company's property-casualty business.…

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Feb
08

Insurance Startups in China and India

Two new insurance companies are working their way through regulatory boards in developing economies as of today, February 8, 2010. The India-based Max Bupa Joint venture is part way through the Indian regulatory framework, while further east, the China Insurance Regulatory Commission gave the go-ahead for the establishment of Anbang Life Insurance Co. Ltd. The independent joint venture between

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