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Hong Kong slaps AIA with record fine for anti-laundering lapses

Hong Kong slaps AIA with record fine for anti-laundering lapses

by AIP Online Bureau | Aug 2, 2024 | International News, Life, Regulation, Risk Management

The lapses resulted in some customers who were “politically exposed persons” failing to be picked up during the screening process. That led to delays in identifying their source of money and wealth, it added. However, no policies were sold to clients who should not...
Tesla registers insurance brokerage in China

Tesla registers insurance brokerage in China

by AIP Online Bureau | Aug 2, 2024 | Eco/Invest/Demography, Intermediaries, International News, Non-Life, Regulation, Technology

By selling insurance directly to consumers, Tesla could potentially offer lower-cost EV insurance products, which are usually more expensive than those for gasoline cars Beijing: Tesla registered an insurance broking firm in China at the end of July, based on a...

BNP Paribas in talks to buy AXA Investment Managers for 5.1 bln euros

by AIP Online Bureau | Aug 2, 2024 | Eco/Invest/Demography, International News, Wealth Management/ Philanthropy

This represents a major strategic move for AXA, Europe’s second-biggest insurer, as it aims to focus on its core businesses: life insurance, savings, property and casualty policies as well as health insurance Paris: BNP Paribas is in exclusive talks with French...

VC investment in India surge in April-June as China faces huge decline

by AIP Online Bureau | Aug 2, 2024 | Data, Eco/Invest/Demography, Wealth Management/ Philanthropy

The IPO market in India continued to be robust. The capital markets saw all-time highs during Q2’24, feeding the appetite of venture companies looking to raise funds in the public markets New Delhi: Venture capital (VC) investment in India surged considerably to $4...

Ayushman Bharat Scheme fraud: ED raids hospitals across four states and UTs

by AIP Online Bureau | Aug 2, 2024 | Eco/Invest/Demography, Health, Indian News, Non-Life, Policy, Technology

During the investigation, as many as 373 fake Ayushman Cards have been identified wherein claims of about Rs 40.68 lakh (approx) were made for reimbursement from the government in the name of treatments given to the said Ayushman Card beneficiaries, the ED release...
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