Heng An Standard Life (HASL) has been given permission to commence operations of its pensions insurance business in China.
The Securities and Exchange Commission of Pakistan (SECP) has formed a Pension and Annuity Working Group (PAWG) as it gears up efforts to develop the country's private pension and annuity market.
Only three out of 10 (31.3%) middle-aged South Koreans are sufficiently prepared for their later lives because most have to take out their retirement savings to pay for the education and weddings of their children.
South Korea's aging population poses a key challenge to the country's insurers in coming decades, with the share of the population aged 65 or above set to double to 32% by 2040 from 16% in 2020, Moody's Investors Service says in a new report released yesterday.
The Chinese government has announced its intention to increase the proportion of the country's annuity funds that can be used to invest in equities.
Turkish Finance Minister Lutfi Elvan has said that the government will take concrete steps to move the insurance and private pension industry forward.
The Insurance Authority (IA) has released provisional statistics of the Hong Kong insurance industry for the first three quarters of 2020, indicating a growth of total gross premiums by 5.5% to $461.1 billion over the corresponding period in 2019.
A special account should be set up to receive administrative court fines and funds confiscated from those who have been found guilty of corruption. The money in the special account should then be pumped into pension reserves for a certain period of time, according to a former governor of the People's Bank of China, Mr Dai Xianglong.
China's pension gap may reach CNY8tn ($1.22tn) to CNY10tn ($1.53tn) in the next 5-10 years, when the country's aging population will exceed 300m, according to Mr Wan Feng, a former chairman of the life insurer New China.
Facebook-owned messaging app WhatsApp says it expects to facilitate the purchase of "affordable sachet-sized" health insurance and micro-pension products as part of its efforts to provide users in India with greater access to financial solutions.