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Taiwan: Insurers can form alliances for quicker entry to Mainland mart |
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Smaller insurance companies in Taiwan can now gain fast-track entry to the mainland Chinese market if they form alliances, even though they might not individually meet China's 5-30-2 entry rules, reports the Taiwan Economic News. |
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India: Govt formalises legislation regarding supervision of unit-linked plans |
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The Indian government has introduced a Bill in Parliament to allow insurers to sell unit-linked insurance plans (Ulips) without seeking the approval of the capital market regulator, the Securities and Exchange Board of India (SEBI). The Securities and Insurance Laws (Amendment and Validation) Bill 2010 stipulates that any insurance product, including Ulips, should be regulated by the Insurance Regulatory and Development Authority (IRDA). The Bill replaces an ordinance that was issued last month to the same effect. |
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Australia: QBE paints lower profit picture |
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QBE Insurance Group, Australia's largest insurance company, has issued a profit warning saying that its 1H profit is expected to be lower by 40% from the same period last year because of a dent in net investment income. |
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Vietnam: Insurers announce investment gains for 1H |
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Several insurers in Vietnam have announced their financial results for 1H that reveal that they made most of their profit from investments instead of underwriting operations, according to VietNamNet Bridge. |
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Japan: Japanese women extend life expectancy to more than 86 years |
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Japanese women are expected to live for almost 86.5 years, topping the world longevity ratings for the 25th straight year, reports the Associated Press citing data for 2009 published by the Japanese Ministry of Health, Labour and Welfare. Average life spans rose by almost five months for women and nearly four months for men compared to the previous year. |
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