Tag: asia insurance

Philippines insurance industry to grow throughout next year

G. Turner
Philippines insurance industry growth

SunLife predicts that the sector will keep up its expansion throughout 2014 to continue the trend. According to the top SunLife Financial executive in the Philippines insurance industry, that sector will be continuing its solid growth throughout 2014, following four consecutive years in which that was already the case. The announcement was made as a part of a broader statement regarding the firm’s predictions. According to Riza Mantaring, the chief executive and president of SunLife in the region, it is not easy to be able to maintain such a considerable…

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Insurance industry is seeing heightened East Asian typhoon activity

Julie Campbell
2017 atlantic hurricane season Insurance industry

Munich Re has warned that this part of the world is experiencing a growing number of violent storms. The insurance industry is recognizing a changing weather trend in East Asia, where the number of typhoons and other highly destructive, violent storms are becoming an increasingly common occurrence. The insured losses over the last thirty years in that region have passed the $6 billion mark. These costs to the insurance industry have come primarily from floods and typhoons. However, over recent years, it has become clear that this is likely to…

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Insurance news from HSBC reveals that its Singapore business sold

Insurance Industry News Deal

The company intends to sell this business as a part of an overall cost cutting strategy. HSBC, the worldwide banking giant, has just announced its latest insurance news in its intentions to step out of the industry in Singapore, as the latest element of its strategy to reduce costs. The deal for the Singapore business of the company has been valued at approximately $19.3 million. HSBC has been working to offload many of its non-core assets, and this insurance news is only the most recent in that strategy. So far,…

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Insurance industry premium growth will be driven by Asia-Pacific markets

H. Cutner
Asia Pacific Insurance Industry Growth

Recent predictions show that by the year 2020, the income from that region’s premiums will have doubled. The results of a new study from the Economic Research Department at Munich Re have shown that by the year 2020, the insurance industry premiums income from the Asia-Pacific region will have doubled their current size. Until that year, nearly half of the estimated additional worldwide primary premiums will come from that region. This equates to approximately €1 trillion, which will be generated by the Asia-Pacific insurance industry. The report on the findings…

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Insurance industry changes will likely come in the form of consolidations

International Insurance Industry

Sun Life, a global insurer from Canada, is seeking to find new opportunities for acquisitions. The Canadian large global insurer, Sun Life, is currently on the prowl to make more changes to its position in the insurance industry, as it seeks out new acquisition opportunities within the Philippines marketplace. The insurer has also been spotted looking for some new consolidations within the local environment. The president of Sun Life Financial Philippines, Riza Mantaring, stated that the Insurance Commission’s new and higher minimum capital requirements which will be P1 billion by…

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Life insurance deal dropped by KB Financial

life insurance no deal

The bid that had been made for ING’s business in that sector in Korea has now been removed. Though ING Groep had received a bid on its Korean life insurance assets, that opportunity has now been lost as the sole buyer who had been involved in the deal has now withdrawn the offer that it had made. KB Financial Group was the would be buyer of the business that ING held in that market of Korea. Now, KB Financial, which is based in Seoul, has pulled out the bid that…

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Insurance industry news made with Ping An sale to CP Group

China Insurance industry news

The acquisition is reported to have been for a total $9.4 billion for a 15.57 percent stake in the insurer. The news has now been released that the Charoen Pokphand Group is taking its first steps into the insurance industry, with the acquisition of 15.57 percent of Ping An Insurance (Group) Company of China. The purchase of the stake in the Chinese insurer was from HSBC Holdings. The announcement from HSBC that it was involved in a negotiation for the sale of its share of Ping An was first made…

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