Life insurance deal dropped by KB Financial

life insurance no deal

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life insurance assets, that opportunity has now been lost as the sole buyer who had been involved in the deal has now withdrawn the offer that it had made.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…

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Insurance industry news made with Ping An sale to CP Group

China Insurance industry news

The acquisition is reported to have been for a total $9.4 billion for a 15.57 percent stake in the insurer. The news has now been released that the Charoen Pokphand Group is taking its first steps into the insurance industry, with the acquisition of 15.57 percent of Ping An Insurance (Group) Company of China. The purchase of the stake in the Chinese insurer was from HSBC Holdings. The announcement from HSBC that it was involved in a negotiation for the sale of its share of Ping An was first made…

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Insurance news from India International expands into Asia

International Insurance fund news

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…

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Insurance news from Prudential reveals new $590 million deal

Insurance news

This Asian acquisition may put added pressure on its competitor, AIA Group. Insurance news from the Asia Pacific region has shown that Prudential PLC has just entered into an acquisition agreement to buy the coverage unit from Thanachart Bank in Thailand, for a reported $590 million, in cash. This will double the insurer’s current market share within that Asian nation. This is expected to add greater competition to the insurance news in Southeastern Asia, which is a rapidly growing marketplace where AIA Group has been working to maintain leadership. This…

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International insurance news shows flood risk in Asia is increasing premiums

Thailand Flood in Industrial Park

Chance of flooding in factory zones is very high. International insurance companies are struggling to determine the flood exposure risks in the factory zones of Asia following 2011’s exceptionally expensive disasters in Thailand and throughout the region. These insurers are worried that further losses are on their way. Some firms have taken the flooding in Thailand as a warning that this will be the future of the international insurance environment. For that reason, they have taken several different actions. The first is that they have given discounts to industries that…

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