News

Hong Kong adjusts insurance premium levy rate to 0.1%

Levy cap is at HK$100 for life policies and HK$5,000 for general policies.

Japanese insurers eyeing US bonds again

US bonds are becoming attractive with yields nearing 2%, insurers say.

Capacity in SEA property market curb price hikes: report

Regional pro rata capacity remained tight but unlocked in most cases.

China Strategic in talks to buy Hong Kong Life

The insurer could be valued at between $400m and $500m.

South Korean insurer lending rose 7.8% in 2020

Outstanding loans totaled $224.4b as of end-December.

Families of Taiwan train crash victims entitled to $158,000 from insurers

It includes a $88,000 basic coverage in carrier's liability from Cathay Century Insurance.

Insurers expanding doctor panels for IP plans: LIA Singapore

All panel fees are also within the health ministry's benchmark.

Malaysia's non-life insurers 'disciplined' despite pandemic: report

Adequate capital has supported industry profitability, analysts say.

LIA Singapore, AIA counter criticisms of Integrated Shield Plans

Expanding panels to all private specialists may lead to higher premiums.

Hong Kong commences group-wide supervision of ILS business

The new rules expand the scope of insurable risks for captives.

Indian lawmakers approve higher FDI for insurers

It will expand insurance penetration and boost valuation of insurers.

South Korean insurers' net profit jump 13.9% in 2020

This was partly attributed to lower car accidents during the pandemic.

China's PICC sees 2020 net profit fall 10.4%

Its P&C segment's net profit also dropped 16.4%.

Bank of East Asia sells life insurance unit to AIA for $644m

BEA will distribute life savings products to retail clients in Hong Kong and the mainland.

ZhongAn Online P&C's 2020 net profit hits $85m

Gross written premiums grew 14.2% to $2.6b.