China, India and Southeast Asia were the main drivers for both the life and non-life premium growth in the region in 2013, according to the latest sigma report.
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More companies in Asia are beginning to recognise the link between the state of their employees' health and business viability, according to leading employee benefits (EB) network MAXIS GBN.
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Warren Buffett's Berkshire Hathaway has confirmed the hiring of two senior executives from the Asian operations of American International Group (AIG), reported Intelligent Insurer.
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Australia's life insurers, hit by rising claims and cancellation rates, have largely themselves to blame for their problems, according to Mr Ian Laughlin, deputy chairman of the Australian Prudential Regulation Authority, reported The Australian.
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The Natural Hazards Cooperative Research (CRC) in Australia has said that the cost of natural disasters could double in the next six years, reported Business Insurance via ABC News.
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Bangladesh's three leading mobile phone operators Robi, Grameenphone and Banglalink are offering life insurance cover to their subscribers. Currently around 7.5 million mobile subscribers are covered under various insurance schemes.
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Cambodia's insurance industry reported total premiums of nearly US$27 million for the first six months of this year, up by 21% over the same period last year, according to a report issued by the General Insurance Association of Cambodia (GIAC).
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The Chinese government has unveiled measures to grow its insurance penetration from the current 3% to 5% by 2020, according to local media.
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China Reinsurance (China Re), the country's biggest reinsurer, is planning an initial public offering of up to about US$2 billion in Hong Kong in the first half of next year.
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India's landmark Bill to amend the insurance law, including raising the foreign direct investment ceiling in insurance companies to 49% from 26%, will now go to a parliamentary committee after it was blocked by opposition parties in the Upper House of Parliament, the Rajya Sabha.
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The Indian Government has launched a pension scheme for senior citizens that will provide monthly pension ranging from INR500 to INR5,000 (US$8 to $82).
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Typhoon Halong which struck Japan last month could be of a similar magnitude to 2011's Typhoon Roke which was estimated to cost US$1.1 billion in insured losses, according to AIR Worldwide, reported Artemis.
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South Korean insurance companies saw their net income soar by 36.2% in the first six months of this year from a year earlier, buoyed by a rise in investment-related earnings, according to the country's financial regulator.
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The recent bancassurance partnership between Manulife (International) Limited and the Industrial and Commercial Bank of China (Macau) Limited will enable Manulife to distribute its life and medical insurance plans, as well as retirement solutions, to ICBC (Macau) customers via the bank's 17 branches and four wealth management centres in Macau, helping them to build, protect and enjoy wealth for a good quality of retirement life, said Manulife in a press statement.
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The Nepal government has hiked the insurance premiums for sherpa guides and support staff on expeditions from the existing NPR1 million to NPR1.5 million (US$10,280 to $15,400).
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From early 2015, consumers in Singapore can buy directly simple insurance products up to a maximum sum assured of S$400,000 (US$320,000), directly from insurance carriers without incurring commissions, the Monetary Authority of Singapore (MAS) said.
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ACE Group has launched ACE elite Personal Information Protection policy, which is specially designed to provide coverage against claims for privacy infringement liability or defamation.
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Maybank Group has increased its presence in Singapore with the launch of its insurance arm, Etiqa Insurance Pte Ltd.
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The Financial Supervisory Commission (FSC) has placed Global Life Insurance and Singfor Life Insurance under government receivership, as the two insurers had failed to contain financial losses or management malpractices.
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The Sri Lankan government has, through an amendment to the Insurance Act, changed the name of the "Insurance Board of Sri Lanka" to "Insurance Regulatory Commission of Sri Lanka."
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Fairfax Asia Ltd, a wholly owned subsidiary of Canada-based insurance holding company Fairfax Financial Holdings Ltd, has agreed to buy a 78% stake in Union Assurance PLC, a subsidiary of John Keells Holdings plc (JKH)'s general insurance business.
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The life insurance industry in Thailand is expected to continue to grow steadily, underpinned by low insurance penetration, an ageing population and tax breaks, according to Fitch Ratings in a new report entitled "Thailand Life Insurance Market Dashboard 1H14".
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The (re)insurance industry are at very strong levels of solvency, with lots of capital in the business, said Zurich's general insurance chief, Mr Michael Kerner to Reuters.
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