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AIG readies Asian unit for an IPO

AIG readies Asian unit for an IPO

Thu, Jul, 1 2010

(Free)American International Group’s (AIG) major Asian life insurance unit American International Assurance Company (AIA) is being lined up for an initial public offering (IPO) on an Asian stock exchange, a development aimed at accelerating its assumption of an independent identity.

Obama sets out to milk insurers

Obama sets out to milk insurers

Wed, Mar, 24 2010

All the major insurance industry associations in the US are calling attention to a number of details in President Barack Obamas 2011 budget proposal, from new life industry rules to taxation of major companies to potential changes for offshore insurers

Singapore life industry recovery still on track

Singapore life industry recovery still on track

Wed, Mar, 24 2010

Singapore's life insurance industry consolidated its recovery in the fourth quarter of 2009 with premium income more than doubling compared with the final quarter of 2008 to S$2.1bn ($1.5bn) reveals data from the Life Insurance Association (LIA).

Allianz’s big Indian success story

Allianz’s big Indian success story

Fri, Feb, 26 2010

The sky’s the limit for India’s insurance market. This was the overriding impression given by Werner Zedelius, Allianz SE board member with responsibility for growth markets, when he recently provided insight into the European insurer’s operations in India.

Private insurers lose ground to LIC

Private insurers lose ground to LIC

Fri, Feb, 26 2010

Reversing a decade of market share loss, state-owned Life Insurance Corporation bounced back in 2008 and 2009. The company has regained a significant amount of lost ground from private insurers suffering a slump in demand for unit-linked products, grappling with soaring losses and margin-eroding legislation.

New Prudential CEO rejigs strategy in Asia

New Prudential CEO rejigs strategy in Asia

Fri, Feb, 26 2010

In Prudential’s first major deal under the leadership of recently appointed CEO Tidjane Thiam, the UK insurer has acquired United Overseas Bank’s unit UOB Life Assurance (UOB Life) in a cash deal worth S$428 million ($306 million).

Growth of China's life market slackens in 2009

Growth of China's life market slackens in 2009

Fri, Feb, 26 2010

China’s insurance industry has been praised by the chairman of the China Insurance Regulatory Commission (CIRC), Wu Ding-fu, for meeting the challenge of what he termed the most difficult year for the country’s economy since 2000. The industry, he said, produced results “beyond expectations”.

Ping An and Discovery Health team up

Ping An and Discovery Health team up

Wed, Jan, 13 2010

China’s nascent private health insurance market is expanding rapidly, something Chinese insurer Ping An and South Africa’s largest health insurer, Discovery, hope to exploit in a proposed insurance joint venture. In their sights is a potential market of over 80 million people, reports Stafford Thomas.

Singapore's life industry recovers

Singapore's life industry recovers

Wed, Jan, 13 2010

If one word could be used to sum-up Singapore’s life insurance market it would be ‘volatile’, at least in terms of new business. This was no better illustrated than by the boom enjoyed in 2007 followed by the bust in 2008 and into early 2009. Encouragingly, solid signs of a recovery are evident.

Insurers to deal with global ageing challenge

Insurers to deal with global ageing challenge

Wed, Jan, 13 2010

Increasing longevity worldwide is one of the biggest success stories of the modern era but has also brought with it the major and growing challenge of coping with ageing populations. For life insurers and pensions providers, pressure being brought to bear on governments to find solutions appears to hold significant potential.

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