Call Us +852 3113 1331
Sep
05

Swiss Re Wants Local Reinsurance License in Brazil

Swiss Re announced this past week that it had submitted its application to Brazil's industry regulator, the Superintendence of Private Insurance (SUSEP), for a local reinsurance registration in the populous South American country. A local license would enable the world's second largest reinsurance firm to better participate in the emerging Brazilian insurance industry, servicing a more comprehensive…

Read more

Aug
23

QBE Revises Margins Outlook Despite 1H Profits

Australian insurance giant QBE has reported a significant rise in half-year profits, but have, at the same time, also been quick to downplay their full-year margin expectations due to the unprecedented string of heavy catastrophe claims incurred in 2011. In a statement released to the Australian Stock Exchange, QBE posted a 53 percent rise in net profit for the six months of 2011 to June 30, up to…

Read more

Jul
28

More Capital Necessary for Chinese Insurers to Grow

Chinese insurance companies will need to raise more than CNY110 billion(US$17 billion) of fresh external funding to support their industry's further growth and development over the next three years, according to credit analysts from Standard & Poor's Ratings Services. Although the credit outlook for China's life and property insurers will remain stable to positive, the ratings agency expects the industry…

Read more

Jul
22

Vietnam Insurance Market Progress

New figures released this week by the Vietnamese government shows that, despite an economic slowdown, the Southeast Asian country's insurance market grew by 20 percent cumulatively in the first half of the year. The Vietnamese Ministry of Finance's Insurance Supervisory Authority reported that total insurance premiums in the first half of 2011 reached VND17.4 trillion (US$826.8 million). Non-life…

Read more

Jul
19

FICCI Drafting Better Regulation for Health Insurance Issues in India

Although the health insurance sector in India has experienced rapid growth in the past decade, the complexities currently involved in policing the industry has prevented the overall benefits of this positive development from permeating down to the common Indian citizen. The Health Insurance Advisory Group from the Federation…

Read more

Jul
18

CIRC Post Chinese Insurer Profits

New data released this week by the China Insurance Regulatory Commission (CIRC) confirms what many industry analysts have already noted; that the Chinese market is fast becoming one of the most lucrative in the world and will continue to present distinct business opportunities. According to the latest CIRC figures, the total premium income reported by Chinese insurance companies' surpassed CNY 805.66…

Read more

Jul
14

Aetna Enters India

India's emergent healthcare industry, which features an abundance of specialist medical facilities, an extensive network of healthcare providers and increasing demand for services, is fast becoming an attractive…

Read more

Jul
06

Allianz and Nippon Life Agree Investment Deal

Nippon Life Insurance Company, Japan's largest life insurer by revenue, has announced plans to expand overseas and invest €500 million (US$725 million) in a unit of Allianz SE, with the transaction expected to close later in the week. This deal marks the Japanese company's first investment in a European peer, and it is also the first time that the German insurance giant has issued contingent capital…

Read more

Jun
27

Lloyds moves into Saudi Arabia with RFIB

RFIB Group, the international Lloyd's insurance and reinsurance broker, has been approved for an intermediary license by the Saudi Arabian Monetary Agency (SAMA) to commence its insurance and reinsurance operations in the Kingdom of Saudi Arabia. RFIB had been active in the Saudi Arabia insurance market for nearly three decades, but renewed regulatory efforts initiated by SAMA last year have required…

Read more

Jun
24

S&P Declares Asia Pacific Life Market Stable

A new report published today by Standard & Poor's (S&P), the foremost worldwide insurance rating and information agency, affirms the life insurance industry outlook in the Asia- Pacific region as generally stable, although it warns short-term investment risks may arise. S&P now assert that the pronounced economic development in the region combined with macro regulatory improvements regarding solvency…

Read more