The Labuan Financial Services Authority and Bermuda Monetary Authority aim to strengthen regulatory supervision, data exchange, and prop up the insurance and digital asset industries.
HSBC Insurance Brokerage receives concurrent approval for insurance brokerage and fund sales, as it targets China’s high-potential RMB 28.8 trillion market.
Despite advances in safety measures and culture, a repeat of the earthquake would cause economic loss of US$331bn and insurance losses around US$140bn, according to Moody's RMS and Swiss Re.
FWD saw the value of new business hit US$482m, with the businesses' results boosted by the return of Chinese visitors to Hong Kong and Macau, strong bancassurance partnerships, and expanded agency presence...
Major Chinese insurers are unlikely to face a crisis due to the country's falling property market, however the extent of exposure for smaller and privately backed players is unclear.
