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Aug
09

Demand for Private Healthcare Grows amid Ongoing Global Doctor Shortage

The rise of the middle class in East Asia is proving to be a boon for private healthcare providers. Kuala Lumpur based IHH illustrates this nicely. In their recent IPO, which was 132 times oversubscribed, IHH raised more than USD 2 billion and the shares climbed by more than 10% in the first few days of trading. The value of the company stands at around USD 8 billion. IHH is now the second largest…

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Aug
01

Insurance Associations Seeking Differentiation from Banking in Discussions on Regulatory Reforms

The International Association of Insurance Supervisors (IAIS) recently published a consultation paper titled, "Assessment Methodology for the Identification of Global Systemically Important Insurers". In the paper, the IAIS proposed criteria which will be used to classify insurers as "global systemically important" and invited public comment until 31 July 2012.  The paper was endorsed for consultation…

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Jul
27

Slovakia's Prime Minister sounds death knell for Private Health Insurers

There is to be a vigorous shake up of the Slovak private health insurance industry. So vigorous in fact, that it's actually going to disappear altogether. The Slovak government has reached a decision this week that it wants to bring all health insurance under a single state run system. A move the government feels will save the Slovak state some money by stopping the flow of precious state funds…

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Jul
27

International Private Medical Insurance Improves and Expands Plans to Stay Competitive

There have been a number of notable changes in International Private Medical Health Insurance in the last few weeks, while not as earth shattering as the Libor scandal or the crop failures in the US, the progressive and continual changes reveal an industry that is currently very dynamic and competitive. While Bupa is launching products to fill gaps it sees in the IPMI market, US healthcare giant…

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Jul
25

Healthcare in China: The Overhaul that Underwhelmed

Published July 25, 2012

A report released on Monday by the Healthcare Reform Office in China announced that the 3 year plan to improve some of the fundamental parts of China’s healthcare system completed its objectives on schedule. The Chinese Central Government spent almost US$71 billion between 2009 and 2011 in efforts to improve healthcare services to the public, build primary care…

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Jul
23

AXA, ICBC Launch ICBC-AXA Life JV

In recent announcements, AXA, the Industrial and Commercial Bank of China Co Ltd (ICBC) and Minmetals declared the launch of their foray into the China insurance market for life insurance. Officially branded as ICBC-AXA Life, the company recently received official approval from China's State Council…

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Jul
20

Aviva Indonesia Targets Affluent Indonesians and Expatriates with International Coverage Offerings

Aviva Indonesia is introducing an International Health Insurance product offering to the Indonesian market in response to a growing number of expats and well heeled local Indonesians. The portfolio offers international health insurance coverage with limits between US$1-2 million, depending on the product, and will allow holders of a policy to travel internationally in order to receive qualifying…

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Jul
20

Delays in Solvency II Create Ongoing Uncertainty

A vote planned for October by EU lawmakers will most probably be postponed following the failure to reach an agreement on a final draft of the strict new set of rules proposed for regulating the insurance industry, known as Solvency II. EU officials and lawmakers failed to come to an agreement before the beginning of the European Parliament's annual summer break, and will now have to try and…

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Jul
18

News Roundup: European Interest Rates, Natural Catastrophes and Piracy

Low interest rates "an enormous stress"

The current European economic climate, created by efforts to try to stimulate economic growth and rescue an ailing banking sector, is placing the insurance industry under "enormous stress". This according to Nikolaus von Bomhard, Chief Executive of Munich Re, one of the world's largest investors with a portfolio of more than €200 billion (US$245…

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Jun
20

Southeast Asian Insurance Market Up For Grabs

As part of a general wave of European institutions putting their Asian operations up for sale, five insurance firms have expressed an interest in purchasing British Firm, Aviva's, 49 percent stake in its joint venture with Malay bank, CIMB. These sales come on the back of an increasingly unstable European economy which has affected both Aviva and Dutch company, ING, also currently looking to sell their…

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