Tag: international life insurance

Life insurance companies in Asia being snatched up by Japan

H. Cutner
life insurance business sold

Wealthy Japanese financial firms are setting their sights on the Southeast and are purchasing heavily. The latest trend in the life insurance industry is in Southeast Asia, where Japanese companies have already spent $6.6 billion this year – much of it in that sector – as they purchase one firm after the next. The latest reports have indicated that another massive acquisition of this nature is about to be made. These reports are indicating that Meiji Yasuda is looking into making an offer of $700 million for Thai Life insurance,…

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Life insurance policies from Hong Kong selling well in China

Hong Kong health Insurance News

Mainland Chinese consumers are helping to boost the sale of the coverage through cross border shopping. Visitors from mainland China have been helping to increase the success of the life insurance industry in Hong Kong as they have been buying policies at a rate that is returning the sector nearly to the level that it had reached before the global economic crisis began. New premiums for the policies are helping to boost the appeal of the coverage, leading to considerable recovery. The newly created premiums for life insurance being sold…

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International insurance acquisition made of Ireland’s largest insurer

H. Cutner
international insurance deal Ireland and Canada

Irish Life Insurance will be purchased by Great-West Lifeco, an insurer that is headquartered in Canada. Great-West Lifeco, Inc. has just announced its latest international insurance acquisition, with the purchase of the largest insurer in Ireland, Irish Life Group, for a total of $1.75 billion. This deal has now been officially announced after having had to receive official approval. The Government of Ireland had to give its approval of the international insurance deal, as it took on the largest life insurer in Ireland in the summer of 2012, after its…

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Fitch Ratings suggests Thai life insurance sector is stable

S.Vagus
insurance industry report

Fitch Ratings report highlights stability of Thailand’s life insurance industry despite natural disasters A new report from Fitch Ratings, a global rating agency, suggests that the Thailand life insurance sector will see healthy premium growth well into 2013. This growth is being attributed to growing population affluence and increase awareness and protection in the wake of recent natural disasters. Thailand has been battered by a wide range of catastrophe’s the most costly of which was a recent flood that caused severe disruptions in global supply chain for numerous industries. These…

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Changes to insurance laws opens industry to greater freedoms

H. Cutner

An amendment to the Insurance Act has been passed by the Legislative Yuan in Taiwan, which now makes non-investment foreign currency life insurance policies exempt from an existing quota for foreign investments imposed on insurers. Under the regulations that were in place, insurers had not previously been permitted to place more than 45 percent of their investments of their total funds into assets that are foreign-denominated. Insurance companies are now permitted by the Financial Supervisory Committee (FSC) to sell non-investment foreign currency life insurance policies without subjecting those policies’ funds…

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Cinven buys U.K. Guardian life and pension from Aegeon

Nordstrom

Cinven Ltd. has announced that it has purchased the life and pension unit of U.K. Guardian from the Dutch insurance company which owns Scottish Equitable, Aegon NV, for $449 million, in the effort to reduce its expenses within the United Kingdom. According to Aegon, which is based in the Hague, by the end of June 2011, the U.K. Guardian unit had recorded a value of approximately $445 million. Its unit for asset management will still be responsible for Guardian’s approximately $12 billion in assets on Cinven’s behalf. By 2015, Aegon’s…

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Bershire Hathaway opens doors in India

Marc

Berkshire Hathaway Inc., a U.S. based insurance company run by Warren Buffett, has announced that they will be entering the insurance market in India. The insurer will make its entrance into the Indian sector as a corporate agent of Bajaj Allianz General Insurance. Berkshire Hathaway will provide general insurance products via online distribution. They will focus their efforts mostly on auto insurance and branch out from there. The Indian insurance market is experience rapid evolution and Berkshire Hathaway is committed to providing the products that are needed most. According to…

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