The US$830m investment aims to capitalise on China's growing elderly care sector, but comes at a time when the segment is undergoing regulatory change and increased scrutiny.
Proposed legislation in the Philippines seeks to introduce a 2% tax on non-life insurance premiums, expanding current taxation which is limited to life insurance premiums.
ICICI Lombard prepares for leadership transition as Sanjeev Mantri is set to take over as MD & CEO from December 1, 2023, following the resignation of Bhargav Dasgupta.
The Wall Street Journal reports that James Turner resigned amidst a conflict of interest involving the hiring of a relative of a senior official at Hong Kong's Insurance Authority.
The introduction of the new accounting standard has led to a sharp increase in reported profits, particularly for P&C insurers —leading to concerns about valuations.
Amid global macroeconomic challenges, Marsh reports that the APAC captive premiums it manages surged by 58% between 2020 and 2022, significantly outpacing other global regions.
The country's sole domestic reinsurer also had its Financial Strength and Long-Term Issuer Credit ratings reaffirmed, amid a change in strategy to grow its business in life and other specialty segment...
