Asian insurer FWD Group has raised another $200m in new funding ahead of its planned Hong Kong initial public offering, reported Reuters citing two sources with direct knowledge of the matter.
The Insurance Authority (IA) has invoked powers under the Insurance Ordinance to take full control of the affairs and property of Target Insurance (Target) in order to maintain market stability and protect policyholders' interests and to keep thousands of taxis running on the road.
Four insurers are stepping in to insure more than 10,000 taxi owners who face being left without cover by the incumbent insurer Target Insurance.
Hong Kong's Insurance Authority (IA) has issued a note to formalise the green light process for assessment on Investment-Linked Assurance Scheme (ILAS) products, whilst ushering in Protection Linked Plans (PLP), a new category of ILAS embedded with a high level of insurance protection.
The Insurance Authority (IA) last week launched Protection Linked Plans (PLPs), a new category of Investment-Linked Assurance Scheme (ILAS) products, which offers an embedded high level of insurance protection.
Hong Kong-headquartered Peak Reinsurance has reported favourable operating results over the past five years, notes AM Best. The non-life combined ratio has exhibited an improving trend despite losses arising from multiple catastrophes during the period.
Hong Kong-headquartered FWD Group Holdings yesterday announced that it has entered into subscription agreements with a number of investors, including a subsidiary of leading retirement services company Athene Holding, to raise $1.425bn in aggregate.
Hong Kong is preparing for the introduction of the unilateral recognition policy, revealed the territory's chief executive Mrs Carrie Lam at the Asian Insurance Forum held earlier this week.
Filhet-Allard Maritime, the France-based leading insurance broker for the commodities trading, shipping and industry markets, has acquired a controlling stake in Latitude Brokers, a specialist marine broker based in Asia with headquarters in Hong Kong.
Pan-Asian life insurance group, AIA, yesterday announced its commitment to achieving net-zero greenhouse gas (GHG) emissions by 2050. The regional life insurer has also committed to the Science Based Targets initiative (SBTi), a global body enabling businesses to set ambitious emissions reduction targets in line with the latest climate science.