edition
• Allianz SE and Income Insurance are in discussions for a potential partnership or stake acquisition.
• In a statement, Income Insurance said discussions are ongoing and there is no guarantee of a transaction and will announce any material developments.
• Allianz confirmed discussions but added that no definitive agreement has been reached.
• LIC has no formal proposal to enter the health insurance market by acquiring a private entity, the state-owned insurer said in a regulatory filing.
• It added that it continues to evaluate various strategic opportunities, including partnerships and investments.
• Current laws do not allow composite licensing for life, general, or health insurance under one entity.
• An external investigation says it has found that Sompo Japan prearranged premiums for 385 corporate clients with other insurers, potentially breaching antimonopoly law.
• The development is the latest in a series of scandals that major Japanese insurers have been implicated in.
• Malaysian Re and Pacific Life Re have extended their MoU to provide sustainable retakaful solutions.
• The partnership, established in 2019, involves collaboration in family retakaful solutions and knowledge exchange.
Edwards joins AXA XL after serving as Head of CRB, Sales & Client Management, Asia at WTW.
