The Financial Supervisory Commission (FSC) of Taiwan has decided on several interim measures to mitigate the impact of exchange fluctuations in the financial and capital markets caused by changes in the international financial situation.
Prescribed interest rates for life insurance policies are expected to be lowered in the third quarter of this year, as bank interest rates continued to fall. The prescribed interest rate for standard life insurance plans may be reduced from the current 2.5% to 2.0%, while interest rate adjustments for participating insurance may vary.
Online insurer Tk.cn Insurance is expected to produce stable yields from investments to consistently underpin the company's overall profitability, offsetting the volatility from underwriting activity, says Fitch Ratings.
These are the highlights for events and updates across the insurance industry this week.
The Life Insurance Corporation (LIC) of India announced that Mr Ramakrishnan Chander has been appointed CIO, according to the Business Standard.
Jumps in hedging costs, sharp currency rate fluctuations, and new regulatory proposals regarding FX risk management are developments that need monitoring, according to a report released by CreditSights, a credit research unit of the Fitch Group.
Japan's four major rated life insurers - Meiji Yasuda Life Insurance Company, Sumitomo Life Insurance Company, Dai-ichi Life Insurance Company and Nippon Life Insurance Company - have reported in their results for financial year 2024 ending 31 March 2025 that the unrealised losses on domestic bonds on an aggregated basis were more than four times higher at fiscal 2024 year-end than a year earlier.
Over the past decade, several major Japanese life insurers have been seeking growth opportunities overseas, particularly in the US, mainly due to the maturity of the domestic market, said Fitch Ratings.
In 2024, China's insurance asset management sector extended the growth trajectory it had regained in the previous year, with both revenue and profits accelerating. According to compiled data, the country's 34 insurance asset management firms generated a combined revenue of CNY41.6bn ($5.75bn), up 14.4% year on year. Aggregate net profit rose by 18.07% to CNY18.35bn.
Singapore-based real estate asset manager CapitaLand Investment (CLI) has established its first onshore RMB-denominated master fund in China, according to Securities Times on May 21. The fund, officially named the CapitaLand RMB Master Fund, has a total committed capital of CNY5bn ($690.6m) and is expected to support up to CNY20bn in assets under management (AUM) upon full deployment.