The Insurance Authority (IA) has highlighted complaints arising as a result of the failure to continue providing service on insurance policies after the licensed individual insurance agent who originally sold the policies leaves the insurer (a situation known as "orphan policies").
The Insurance Authority (IA) has said that it welcomes initiatives for the insurance sector outlined in the Chief Executive's 2021 Policy Address announced last week.
The CBIRC has announced that it has approved Taikang Life's establishment of a subsidiary in Hong Kong, that is registered as Taikang Life Insurance (Hong Kong) Co Ltd.
China Reinsurance (Group) Corporation and the China Property & Casualty Reinsurance Company have issued the first insurance-linked securities (ILS) in the form of a catastrophe bond.
The Insurance Authority (IA) and the Hong Kong Monetary Authority (HKMA) will engage the insurance industry and relevant stakeholders to clarify the expected standards for premium financing, the two regulators say in a joint statement.
With the increasing popularity of overseas study, AXA Hong Kong ("AXA") and HSBC launch a new insurance plan "Overseas StudySurance" to provide extensive care for students getting education abroad. With annual premium as low as HKD4,000, students can enjoy the comprehensive protection away from home with the following premium features:
London-headquartered Prudential has raised HK$18.8bn ($2.4bn) from its Hong Kong share offering after pricing the stock at a slight discount to its last close in London, reported Bloomberg.
Hong Kong tycoon Richard Li's pan-Asian life insurer FWD Group Holdings has filed a registration statement with the US Securities and Exchange Commission (SEC) relating to a proposed initial public offering of American depositary shares (ADSs), representing Class A ordinary shares of the company. The application is for the ADSs to be listed on the New York Stock Exchange.
The net earnings of Taiping Reinsurance (TPRe) turned negative in 2020, the first time in the past 10 years, mainly dragged by higher impairment losses and increasing pressure on underwriting profitability due to COVID-19 and a number of large losses reported in the year, notes AM Best.
Prudential plc has announced plans to raise around HK$22.5bn ($2.89bn) by issuing 130.5m shares at HK$172 per share. The share offer represents up to 5% of the insurer's issued share capital as of 1 April 2021.