By Gabriel Budi Sutrisno | TechinAsia | December 22, 2023
Japan-based insurance firm Sumitomo Life is set to complete its acquisition of Singapore’s Singlife following a new commitment to purchase all shares previously held by other entities.Read More »Japan’s Sumitomo Life to fully acquire Singlife, tightening grip on SEA
By Yi Whan-woo | The Korea Times | December 22, 2023
The steeply falling population in Korea is prompting domestic insurance firms to accelerate overseas business expansion in search of new subscribers.Read More »Demographic crisis prompts more insurers to go abroad
“We remain excited about the significant potential,” says leader
By Kenneth Araullo | Insurance Business Magazine | December 21, 2023
Prudential, the life and health insurer, has announced a significant capital infusion in its joint venture (JV) with CITIC Financial Holdings. A media release said the joint venture, CITIC-Prudential Life Insurance Company (CPL), is set to increase its registered capital by RMB2.5 billion (US$351 million) following the approval from CPL’s shareholders.Read More »Prudential announces capital increase for CITIC joint venture
By Insurance Asia | December 7, 2023
New measures extend the adjustment period for insurers to adapt product and investment strategies to meet capital requirements by 2026.Read More »Recent regulatory changes to boost Taiwan’s life insurance sector: Fitch Ratings
New measures give the industry more time to adjust its strategies
By Kenneth Araullo | Insurance Business Magazine | December 6, 2023
Taiwan’s Financial Supervisory Commission (FSC) has recently introduced measures designed to assist life insurers in coping with the challenges posed by interest-rate risks, with these changes part of the transitional arrangements for the upcoming implementation of the localised Insurance Capital Standards (TW-ICS) and IFRS 17.Read More »Transitional measures to help ease risks for life insurers in Taiwan – Fitch Ratings
Sale of ABL Life Insurance falls through
By Anna J. Park | The Korea Times | November 5, 2023
ABL Life Insurance has failed to find a new owner after private equity firms (PEFs) that were pursuing the acquisition of the life insurer have all pulled out, resulting in the cancellation of the sale process.Read More »More insurance firms go up for sale after valuation adjustments
By Gabriel Budi Sutrisno | TechinAsia | November 3, 2023
Shinhan EZ General Insurance, a subsidiary of South Korean conglomerate Shinhan Financial Group, has entered the Indonesian market through a tie-up with PasarPolis‘ insurance sales platform Tap Insure.Read More »South Korea’s Shinhan taps PasarPolis to enter Indonesian market
By Lee Yeon-woo | The Korea Times | October 19, 2023
Hana Financial Group has announced its decision to withdraw from the acquisition of KDB Life Insurance. This marks the fifth time that the insurance subsidiary of the Korea Development Bank (KDB) has failed to secure a new owner.Read More »KDB Life fails to find new owner for fifth time as Hana withdraws
Insurers have high hopes based on enhanced performance metrics
By Lee Yeon-woo | The Korea Times | September 22, 2023
While major insurance firms are queued up for sale, financial holding companies are exercising caution in proceeding with acquisition deals. This contrasts with earlier market expectations that they would actively pursue acquisitions to expand their non-banking business portfolios.Read More »Big insurers up for sale, but financial conglomerates appear disinterested
Two names stand out as frontrunners for the purchase
By Kenneth Araullo | Insurance Business | August 31, 2023
The Korea Deposit Insurance Corporation (KDIC) has officially initiated the M&A bidding process for MG Non-Life Insurance.Read More »M&A bidding for Korean nonlife insurer kicks off