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.
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.
Evergrande Life Insurance's business, assets, and liabilities are transferred to new, state-owned entity, Haigang Life Insurance, in a move widely seen as being part of liquidation efforts.
Apex Insurance New Zealand was founded in 1999 and has grown to become one of NZ's largest privately-owned insurance brokers, serving the mid-market and SME segment.
OnePath and Zurich have jointly submitted an application to the Federal Court of Australia, with the expected completion of the transfer projected for December 1, 2023.
The ratings were withdrawn following the announcement of the Guam-headquartered insurer's sale to Calvo Enterprises Inc. and TMPI's subsequent request to be excluded from the rating process.
Hewitt, a veteran of the legal industry, will lead BMS Group's operations in Japan as the firm aims to establish itself amid the surge in Japanese M&A insurance market
