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Mar
30

Chinatrust Financial Seal MetLife Taiwan Deal

Chinatrust Financial Co. Ltd, Taiwan's third-largest financial services provider by assets, has agreed to purchase US-based MetLife Inc's Taiwanese life insurance unit for US$180 million. With the acquisition of MetLife Taiwan, Chinatrust will finally be able to enter the life insurance market it has long coveted. The…

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Mar
29

China Pacific Delivers Good Results For 2010

China Pacific Insurance Group (CPIC Group), mainland China's third-largest life insurer, has posted a 16.3 percent increase in net profit for last year, up to 8.557 billion yuan (US$1.3 billion) from 7.356 billion yuan (US$1.1 billion) in 2009, as premiums expanded. CPIC Group's Announcement of Audited Annual Results reported income from the insurance business in 2010 at 139.56 billion yuan (US$21.27…

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Mar
24

Korean insurers going global, introducing domestic earthquake coverage.

South Korea currently boasts one of the ten largest insurance markets in the world with a particularly high-penetration rate in regards to life insurance. While the country's insurance sector is made available to foreign multinationals, both the life and non-life segments continue to be dominated by large domestic companies. In order to maintain their growth, Korean insurance firms are now looking…

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Mar
23

Qatar to introduce National Insurance Scheme in 3 years

A senior advisor from Qatar’s top health advisory body, the Supreme Council of Health, has announced that a broad national health insurance system with universal access for both citizens and visitors will be operable within the next 3 to 4 years.

Qatar’s Supreme Council of Health (SCH) was established by an Emir decree in 2005. The Council replaced both the former National Health Authority…

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Feb
18

India to Introduce Portability for Health Insurance Policies

From July 1st 2011, health insurance policy holders in India will be able to change insurance providers, without the fear of losing their benefits from their previous policy. With the new initiative issued by the IRDA (Insurance Regulatory and Development Authority), industry leaders in India predict an increase in competition among health insurance providers, as policy-holders will be afforded greater…

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Feb
11

Saudi Arabia Placed On Dengue Fever Alert

In Saudi Arabia authorities are warning hosptials in Jeddah of a dengue fever outbreak, following floods which have provided a perfect breeding ground for mosquitoes. According to the Ministry of Health Saudia Arabia, since the January 26th floods in Jeddah, six cases of dengue fever and 4 cases of malaria…

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Feb
07

Health Insurance Coverage Drops in New Zealand

  The Health Funds Association of New Zealand (HFANZ) has reported a significant decline in the numbers of individuals covered by private health insurance within the country. Approximately 10,000 policyholders have discontinued their health insurance policies during 2010. Given a number of financial pressures resulting…

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Jan
12

New York Life Sells Stake in Chinese Life Insurance Joint Venture

New York Life has entered into arrangements to sell its stake in its Shanghai-based joint venture, Haier New York Life Insurance Co. Ltd. Shanghai-based Haier New York Life Insurance had previously been a joint venture between New York Life Insurance and electrical appliance manufacturer, Haier Group, with each partner holding a 50 percent stake. The Haier New York Life Insurance company has a registered…

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Jan
11

India's GIPSA shopping for Third Party Administrator Partner

India's General Insurers Public Sector Association (GIPSA), have shortlisted 9 companies to create a captive joint-venture third party administrator (TPA) to manage their cashless claims services. GIPSA's group of four public sector general insurance companies -- New India Assurance;…

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Dec
23

Bupa International Rolls Out Full Medical Underwriting Options

In December, Bupa International joined the ranks of international private medical insurers that offer insurance policies with full medical underwriting (FMU) options that cover individuals for pre-existing conditions. Until recently, it has been very difficult for expatriates to obtain coverage of pre-existing conditions on individual insurance policies, as few insurers would cover them. Many…

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