By Jason Contant | April 29, 2021
As the transition date for the new insurance accounting standard IFRS 17 approaches in January 2022, insurers are split on whether or not to use dedicated staff for implementation.Read More »How insurers are faring as IFRS 17 transition looms
By Jan-Henrik Foerster and Manuel Baigorri, Bloomberg | February 22, 2021
Aegon NV is exploring a sale of its Transamerica business in Asia as it pushes ahead with plans to exit non-core markets, according to people familiar with the matter.Read More »Aegon Said to Explore Sale of Transamerica Business in Asia
by Gabriel Olano | Insurance Business | February 20, 2021
Several foreign-owned life insurance companies in South Korea are reportedly seeing higher levels of contract terminations, compared to their homegrown competitors.Read More »Foreign insurers losing customers in South Korea
The Business Times | January 23, 2021
This is the third attempt at exiting the business; a successful sale could fetch US$400m to US$500m
THE owners of Hong Kong Life Insurance Ltd are reviving a sale of the business after a deal was scrapped more than two years ago, according to people familiar with the matter.Read More »Hong Kong Life Insurance owners revive sale after failed deal
Bnamericas | January 12, 2021
Chile has taken a step closer to introducing the new IFRS accounting standard for insurance contracts: IFRS 17.Read More »Chile advances with IFRS 17 implementation plans
By Leslie Scism and Julie Steinberg | The Wall Street Journal | December 11, 2020
Deal comes as insurers face need for scale in advertising, and technology drives changes in how they do business
Swiss insurer Zurich Insurance ZURVY -2.51% Group AG said it would acquire MetLife Inc.’s MET -0.76% car and home insurance business for $3.94 billion in cash, a move that will substantially boost the size of its Farmers business in the U.S.Read More »MetLife to Sell Car and Home Insurance Unit to Zurich for Nearly $4 Billion
Asia Insurance Review | December 07, 2020
The Financial Services Commission (FSC) has announced that it will conduct a task force to submit amendments to insurance law to the National Assembly in the first half of next year to implement the new international accounting standard FRS 17 in 2023 .Read More »South Korea:Insurance act to be amended for IFRS 17 to be adopted in 2023
FWD is now closer to fulfilling its goal to build a technology platform that will go above and beyond compliance.
PRWEB, London | December 02, 2020
Aptitude Software, a leading provider of financial management software, is delighted to announce that its IFRS 17 charter client, FWD Insurance (“FWD”), has extended its relationship with Aptitude Software to expand the Aptitude footprint across its operations in Asia as it continues to prepare for the new IFRS 17 regulatory landscape.Read More »FWD Insurance expands Aptitude Software adoption across Asia to prepare for IFRS 17
Intelligent Insurer | November 19, 2020
RNA Analytics, a specialist in actuarial and risk management, has launched a new report titled The Modernization of the Actuarial Function, which dissects a rapidly changing industry and the role of the actuary today.Read More »RNA Analytics report explores actuarial modernisation in light of IFRS 17 and COVID-19
By Kim Bo-eun | The Korea Times | August 4, 2020
MetLife is plotting a possible exit from the “unattractive” South Korean market, with the company checking its worth in recent years amid an exodus of foreign insurers in the country, a source said.Read More »MetLife considering exiting Korea