Magazine Table of Contents
The CBIRC is making internet insurance a major focus of its supervisory work, covering in particular misleading sales, forced bundling of insurance plans, high costs and illegal operations such as the leakage of information. These are areas where the frequency of violations is high.
The Burman family will reduce its stake in the life venture, Aviva Life Insurance, from 51% at present to 26%. Aviva’s holding will rise to 74%, giving the foreign partner equity control of the life insurer, sources told Livemint.
HSBC Insurance (Asia-Pacific) Holdings, an indirect wholly-owned subsidiary of HSBC Holdings (HSBC), has entered into an agreement to acquire 100% of the issued share capital of AXA Insurance (AXA Singapore) for $575m.
The Thai Life Assurance Association (TLIA) and the Office of Insurance Commission are currently in talks with life insurance companies to develop pension insurance products to meet retirement funding needs, according to TLIA president Sara Lamsam.
The month of July 2021 was world’s third hottest July on record according to European Union’s Copernicus Climate Change Service (Copernicus).
After major insurers and reinsurers have refused to cover any new coal projects, global coal companies are considering setting up a mutual insurance company to cover their mining projects and other operations. They propose to pool their funds to set up the proposed mutual insurer.