China’s securities regulator approves PICC IPO

China’s securities regulator approves PICC IPO

China’s securities regulator approves PICC IPO

Xinhua News Agency has reported that the China Securities Regulatory Commission has approved an application for an initial public offering (IPO) by the People’s Insurance Company of China Limited (PICC). It said that PICC is already listed in Hong Kong but applied to issue up to 4.6 billion shares on the Shanghai Stock Exchange, According to Xinhua, the IPO is…

Hong Kong insurance market continues growth in first quarter

Hong Kong insurance market continues growth in first quarter

Hong Kong insurance market continues growth in first quarter

The Hong Kong insurance industry saw an 8.6% increase in total gross premiums to $132.5bn for the first quarter of 2018 compared with the same period in 2017, according to provisional statistics from the Insurance Authority of Hong Kong. Gross premiums of general insurance business recorded an increase of 11.1% to $15.5bn in the first quarter of 2018, compared with…

Risk managers have key role in rise of the robots

Risk managers have key role in rise of the robots

Risk managers have key role in rise of the robots

Very few professions have been left unchallenged by the rise of new technology, in particular the prevalence of automation and artificial intelligence. However the rise of the so-called economy 4.0 could generate new opportunities for corporate risk managers, especially in Asia where the use of robotics and automation is outstripping other regions. For decades we have seen automation and robotics…

Global premium volume to nearly double by 2030, Munich Re predicts

Global premium volume to nearly double by 2030, Munich Re predicts

Global premium volume to nearly double by 2030, Munich Re predicts

Global premium volume is likely to reach around €7.9trn by 2030, almost double the volume of €4.2trn in 2017, according to Munich Re. Of the additional premium of €3.7trn by 2030, some €1.2trn is expected to come from China alone, with almost two thirds of this likely to derive from life and health insurance business, with the rest coming from…

Further M&A activity in the re/insurance sector expected, says Hogan Lovells

Further M&A activity in the re/insurance sector expected, says Hogan Lovells

Further M&A activity in the re/insurance sector expected, says Hogan Lovells

There will be further consolidation in the reinsurance and P&C sectors and continuing private equity activity will remain at the forefront of mergers and acquisitions (M&A) in 2018, according to Hogan Lovells. A new paper from the law firm, Insurance M&A 2017/2018, states that overall, insurance M&A activity during 2017 could be characterised as a case of quality over quantity,…

Reinsurers bemoan lack of rate change in Asian insurance market

Reinsurers bemoan lack of rate change in Asian insurance market

Reinsurers bemoan lack of rate change in Asian insurance market

Despite the fact that 2017 was a severe year of natural catastrophes, the Asian insurance market has seen little impact in terms of rate changes, much to the disappointment of many insurers and reinsurers. Rates in the region have been deteriorating for several years, due to excess capacity and strong competition. This has led insurers to question whether certain commercial…

Willis becomes first licensed foreign broker to transact all insurance business in China

Willis becomes first licensed foreign broker to transact all insurance business in China

Willis becomes first licensed foreign broker to transact all insurance business in China

China’s Banking Insurance Regulatory Commission (CBIRC) has approved Willis Insurance Brokers as the first fully licensed foreign broker to transact all insurance business in China. Willis Towers Watson said this follows President Xi Jinping’s announcement early last month of a series of major financial liberalisation initiatives aimed at opening up the Chinese market to foreign operators. Willis said that in response…

Shanghai further opens finance sector in bid to develop international finance centre

Shanghai further opens finance sector in bid to develop international finance centre

Shanghai further opens finance sector in bid to develop international finance centre

Shanghai has announced new measures to open wider its finance businesses, as it looks to become an international finance centre. According to the Xinhua News Agency, the municipal finance authority said that in the near future, the city will further open up the banking, securities and insurance sectors. The authority said the scope of Shanghai-based foreign-funded insurance companies will be…

Former Anbang boss jailed for 18 years

Former Anbang boss jailed for 18 years

Former Anbang boss jailed for 18 years

A Shanghai court has sentenced the former chief executive of Anbang Insurance company to 18 years in jail. The sentence completes a spectacular fall from grace for Wu Xiaohui, a once-prominent figure in China’s insurance sector, who was accused of orchestrating a $10bn (CNY65.2bn) fraud earlier this year by the Chinese authorities. In addition to the custodial sentence, he will…

Bridging the protection gap with novel forms of risk transfer

Bridging the protection gap with novel forms of risk transfer

Bridging the protection gap with novel forms of risk transfer

Parametric insurance is insurance in which the payment is triggered by reference to a pre-determined parameter or ‘index’ that stands as a proxy for loss. For example, a policy designed to provide funding to a policyholder in flood or drought conditions could be triggered by excess or insufficient rainfall measured by a local weather station. Parametric insurance has wide-ranging applications,…

1 2 3 22