News

Report: Tokio Marine enlists Goldman Sachs and Jefferies for sale of Southeast Asia life insurance business

June 9 2023

Rumors have been swirling that Tokio Marine is considering selling its SEA life businesses and sources report the group is now intensifying its efforts.

asic-provides-relief-to-insurers-from-certain-transaction-confirmation-requirements

ASIC provides regulatory relief for some confirmation requirements

June 9 2023

The Australian regulator introduced two instruments to bypass confirmation requirements in cases of policyholder death and recurring benefit claim payments.

PT Asuransi Tokio Marine Indonesia, operating at a CR of 84%, maintain excellent financial strength and credit ratings from AM Best

June 9 2023

It's expected the Indonesian insurer's strong balance sheet and excellent operating performance will remain stable for the foreseeable future.

AIA commits $200 Million to LeapFrog's profit-for-purpose investments funds

June 8 2023

AIA continues to increase its social-impact activities with the investment with LeapFrog, an impact investor which focuses on financial services and healthcare.

AXA and Capco partner on climate risk management reporting solution

June 8 2023

AXA Hong Kong and Macau have announced a strategic partnership with management consultant Capco to provide a comprehensive climate-related, risk management and reporting solution for financial institutions...

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India's PolicyBoss gets Series B funding lift

June 8 2023

The funds are going to be used to improve the digital insurer's technology infrastructure and strengthen its last-mile presence.

Australian insurance industry reacts positively to allocation of AU$400m DRF Fund, but ICA believes there's still more to be done

June 7 2023

The ICA and industry reaction was positive, however the ICA continues its call for a 10-year rolling program.

japan-post-insurance-to-make-a-material-investment-in-reinsurance-vehicle-sponsored-by-u-s-head-quartered-global-atlantic

Japan Post Insurance to invest in international reinsurance vehicle as part of international growth strategy

June 7 2023

The news was announced as part of a strategic partnership between Japan Post, investment firm KKR, and the U.S. head-quartered (re)insurer Global Atlantic.

Report: Zurich and BNP Paribas Cardif eyeing potential bid on Indonesian Life Insurer

June 7 2023

Both insurers are looking at PT Astra's life insurance arm, though discussions are believed to be at preliminary stage.

APRA publishes minor updates to AASB 17 which will take effect from July 1st

June 7 2023

APRA had opened up a consultation on proposed changes in May. With no responses received, the regulator went ahead and finalised the amendments.

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Hong Kong: Liquidated Target Insurance claims it's close to securing funding of US$680m for new UAE venture

June 6 2023

While liquidators are still working to recover money from its Hong Kong business, Target announced they'd received letters of intent to fund its UAE subsidiary, Himalayas Insurance.

lic-announces-expedited-claims-settlement-to-victims-of-tragic-balasore-train-accident

IRDAI asks insurers to carry out 'suo motu' claim settlement for policies related to the Odisha train collision

June 6 2023

The Indian regulator has asked insurers to minimise paperwork and use official lists of passengers to expedite claims payments.

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