As the economies of Europe and America continue to struggle, Asian insurers are seeing great opportunity for investments. Samsung Life Insurance, the largest insurance group in South Korea, has taken a keen interest in distressed assets that banks in Europe and the U.S. have put up for sale. The company had stepped back from investments when the recession of 2008 made a major impact on the global economy. Now, however, the opportunities seem to great to ignore. Samsung has more than $130 billion in assets and is willing to invest…
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ING Group to abandon plans for combined insurance and investment operations in Europe and Asia
The ING Group, a Dutch financial institution working in the banking and insurance industries, has announced that it will be abandoning its plans for a combined European and Asian insurance investment operation. The company cites economic turmoil in the European region as the primary reason for its change of heart. Future investment and insurance plans are still a possibility for the future, if the European financial crisis is resolved appropriately. The company still has a keen interest in the Asian market, however, and plans to pursue alternative schemes to expand…
Read MoreEuro crisis may be worse than the economic recession of 2008, say insurers
The European financial crisis is showing no sign of slowing down as the European Union continues to look for ways to stop what may soon become the world’s most catastrophic financial calamity. EU regulators have turned to the insurance industry to help find a solution to the crisis, but insurers have been leery of lending any aid, as the countries involved in the crisis are exposed to massive risk. The European Insurance and Occupational Pension Authority has released a statement regarding the crisis, calling it worse than the economic disaster…
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