Life

FWD completes MetLife Hong Kong acquisition

International News       Jul 02, 2020

  HONG KONG: FWD Management Holdings Limited, the Hong Kong registered business of FWD Group, announced it has completed the acquisition of MetLife Limited and Metropolitan Life Insurance Company of Hong Kong Limited from MetLife, Inc. (NYSE: MET).   The acquisition further strengthens FWD's presence, market share,...

SoftBank-backed Lemonade raises $319 million in IPO

International News       Jul 02, 2020

New York: Insurance startup Lemonade Inc, which is backed by SoftBank Group Corp said it raised $319 million in its U.S. initial public offering.   Lemonade is the latest company to capitalize on the sharp recovery in U.S. investor appetite for new stocks following the coronavirus...

IRDA likely to implement new Indian Accounting Standard in the insurance sector soon

Indian News       Jun 30, 2020

  Hyderabad: The insurance regulator IRDA has indicated that Implementation of the new accounting system - the Indian Accounting Standard (abbreviated as Ind-AS)- in the domestic  insurance sector is likely happened in mid 2020. In its recent board meeting the IRDA discussed, the status of implementation...

India accounts for 45.8 million of the world’s ‘missing females’:UN report

Facts       Jun 30, 2020

  United Nations: India accounts for 45.8 million of the world’s 142.6 million “missing females” over the past 50 years, a report by the United Nations said on Tuesday, noting that the country along with China form the majority of such women globally.   The State of...

EU calls British financial market proposals 'unacceptable'

International News       Jun 30, 2020

  LONDON: British proposals to give the City of London access to the European Union are “unacceptable” because they seek to maintain the benefits of the single market without the obligations, the bloc’s chief Brexit negotiator Michel Barnier said on Tuesday.   EU policymakers worry that the...

U.S.insurers’ private equity holdings rise 10% to $81.3 billion in 2019:AM Best

International News       Jun 30, 2020

  OLDWICK, N.J: U.S. insurance companies for a fourth-straight year increased their private equity holdings—by nearly 10% in 2019 to $81.3 billion—as this asset class remains attractive to insurers looking to diversify their investment portfolios or increase returns in the low interest rate environment, according to...

Federal Bank to buy additional 4% stake in life insurance JV from IDBI Bank for over Rs 80 crore

Indian News       Jun 25, 2020

  Mumbai: South-based lender Federal Bank will be paying over Rs 80 crore to buy additional four per cent stake in its life insurance joint venture IDBI Federal Life Insurance, a top official has said.   The stake buy from the state-run IDBI Bank will take Federal...

Global investors including insurers urge Brazil to stop deforestation

International News       Jun 24, 2020

  BRASILIA:  A group of 29 global investment firms that manage $3.7 trillion are demanding meetings with Brazilian diplomats around the world to call on right-wing President Jair Bolsonaro’s government to stop soaring deforestation in the Amazon rainforest.The investors, led by Norwegian insurance and pension firm...

86% of Singapore-based HNWIs own medical or critical illness insurance policies:Study

International News       Jun 24, 2020

  SINGAPORE:  AIA together with EY today launched a new report providing new insights into High-Net-Worth Individuals (HNWIs), in the context of their views and adoption of insurance solutions. The report identifies specific challenges faced by HNWI's and explores how insurance solutions can help this segment...

Declan O’Neill, Executive Vice-President for Product & Data at Munich Re Automation Solutions

Munich Re launches automated underwriting solution in APAC life insurance market

International News       Jun 24, 2020

Singapore: Munich Re Automation Solutions, a leading insurtech specialist and subsidiary of the Munich Re Group,is bringing its digital underwriting expertise to the Asia-Pacific life insurance market with ALLFINANZ SPARK, one of its SaaS solutions.    ALLFINANZ SPARK enables firms utlimately to utilize their own sources...

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