The European Commission has given its approval for MetLife's purchase of AIG subsidiaries American Life Insurance Company (ALICO) and Delaware American Life Insurance Company (DelAm), as part of MetLife's takeover of AIG's international life insurance business. MetLife's…

South Africa-based health insurance company, Discovery Holdings, has signed an agreement with Ping An Insurance Company to take a substantial stake in Ping An's health insurance subsidiary, Ping An Health Insurance Company, in order to develop the Chinese health insurance market. The agreement was signed during a trip to Beijing and Shanghai by South African government officials, including the…

With the ability to travel across the world getting easier every year, one thing many people do not take into account is the price of getting home should an accident occur. Cases like Carrie-Anne Dudbridge and Ryan Elley are sad illustrations of the necessities of travel insurance in the modern age. There have been a number of incidents this year involving…

India-based joint-venture Bajaj Allianz General Insurance Company has launched a new policy dubbed the Star Package Policy, which provides modular coverage of up to eight separate risks, ranging from health insurance coverage to home contents insurance. Star Package provides eight coverage options which are a mix of health insurance, life insurance and general insurance risks. The policy options…

Aviva investors have started to question whether the refusal of the GBP 5 billion (EUR 4.13 billion) bid from RSA Insurance Group Plc was the correct way forward, and this question is being addressed to Mr Andrew Moss, who three months after becoming the Chief Operating Officer of Aviva Plc back in July 2007, unveiled his "One Aviva Twice the Value" strategy. Fast forward to the present, and Aviva shares have lost almost half their value since then, prompting investors to ponder about the merits of a breakup of the company.

AIA Group Chief Marketing Officer, Chris Wei, recently communicated that Asia is the global leader in terms of growth in the life insurance market. According to figures released by Mr. Wei, the annual growth rate of life insurance premiums in Asia is 17 percent, compared to 11.6 percent in Europe and 4.9 percent in North America. These figures were shared with the Financial Services Council of Australia in a conference in the city of Melbourne.

Indonesia-based joint venture life insurance company, CIMB Sun Life, has been honored as "Best New Company of the Year" by the International Business Awards, also known as the Stevie Awards. CIMB Group, a universal bank in Southeast Asia headquartered in Malaysia, and Sun Life Financial created the Indonesian-based joint venture CIMB Sun Life which started operations in July 2009. The joint…

The life insurance industry in Singapore is riding high, after growth in new sales of life insurance and health insurance policies continued into the second quarter of the financial year. The new business premiums in the Singaporean life insurance market were up 16% year-on-year for the second quarter, with figures for the first half of 2010 showing total weighted new business premiums growing…

According to a recent announcement, the China Insurance Regulatory Commission (CIRC) has approved the Hong Kong-based Bank of China Group Insurance Co., Ltd. to transfer 100 percent of its stake in Bank of China Insurance (BoC Insurance) to the Bank of China. With this move, the Bank of China now becomes the sole shareholder of the BoC Insurance.

OneBeacon Insurance Group has recently added new areas of coverage to expand its international capabilities with two insurance products; International Kidnap and Ransom, and International Business Travel Accident. OneBeacon Insurance Group, Ltd. is a Bermuda-based holding company, listed on the New York Stock Exchange.