The aging population in the country is starting to make medical coverage more expensive. The latest insurance news out of China has shown that the health coverage fund in Beijing is starting to experience considerable pressure as the population ages. People are living longer, which means that chronic diseases and medical care needs are growing. The older the population gets, the higher the frequency of chronic diseases. These are increasing the demand for medical services in the city, which means that Beijing’s insurance news is growing in its expenses. According…
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Life insurance deal dropped by KB Financial
The bid that had been made for ING’s business in that sector in Korea has now been removed. Though ING Groep had received a bid on its Korean life insurance assets, that opportunity has now been lost as the sole buyer who had been involved in the deal has now withdrawn the offer that it had made. KB Financial Group was the would be buyer of the business that ING held in that market of Korea. Now, KB Financial, which is based in Seoul, has pulled out the bid that…
Read MoreInsurance news from India International expands into Asia
The insurer based in Singapore will be making its way into Malaysia and Vietnam. The latest insurance news announcement from the insurer based in Singapore called India International, has just been released and has revealed that it has intentions to broaden its operations in order to include Malaysia and Vietnam. The company is a joint venture of the five insurers owned by the state in India. The insurance news was announced by the director of India International Insurance (I.I.I.), N. S. R. Chandraprasad. The company was created in 1987 as…
Read MoreInsurance news from AIG now includes Chinese joint venture
American International Group has announced that it will be working with PICC. The latest insurance news from U.S. insurer American International Group, Inc., is that it will be entering into a joint venture with the life policy business unit of People’s Insurance Co. (Group) of China, Ltd. This may place AIG into a situation where it is competing directly with its former Pan-Asian business unit. This insurance news has been released as the insurer announced that it would be purchasing $500 million worth of PICC shares in that companies up…
Read MoreInsurance news from HSBC includes intention to sell Ping An stake
A share of approximately $9.3 billion of the Chinese insurer will be sold. The latest insurance news from HSBC is that it is currently in negotiations to sell its stake of the Chinese insurer, Ping An, which is worth approximately $9.3 billion. The intention is to boost the profitability of this largest bank in Europe. It will be accomplished as a part of a larger effort to slough away some of its non-core operations. The sale of the Ping An stake is not unexpected insurance news. It was relatively anticipated…
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