Tag: insurance

Fund-house execs are divided over whether the proposed $35 billion acquisition of AIA by Prudential is a potential boon or bane. And what about Hong Kong's MPF business? Standard Chartered loses out as Allianz hands Citi its insurance custody mandate for Asia, soon after the Bank Consortium Trust replaces HSBC as custodian of RCM's Hong Kong ... As part of the deal, the UK group will buy the Singaporean bank's life insurance arm. Belmans is off to Tokyo to head ING’s insurance business in Japan. A replacement for Belmans’ previous role as North Asia general manager is due to be announced on Friday. Institutional investors continue to use structured products to adjust their risk profiles and diversify risk, says Societe Generale's Marc Saffon. As regulators and industry practioners cast a worrying eye over potential runaway inflation in a post-stimulus world, opening access to real asset classes becomes key. Cerulli expects more than 70% of the unit-linked assets in the region, or $227 billion, to be managed by third-party fund managers by 2012. An HSBC survey shows 73% of respondents say they purchase investment-linked life policies for wealth accumulation. The Ministry of Commerce increases the international investment limit for insurance companies operating in Thailand. At AsianInvestor's inaugural Taiwan Offshore Investment Conference, Fubon CIO says institutional investors need more overseas exposures. The company’s liabilities will be transferred to Challenger Financial Services giving it a 30% share of the annuities market. The insurer aims to become a top 10 Hong Kong player with the appointment of Simon Phipps and a new marketing manager. Insurance JV to open Shandong branch. After 10 months in a temporary position while AXA was investigated by the banking regulator, Andrew Penn returns to his old role. IFAs to respond to growing demand for professional advice, says Axa CEO. Regulator will not relax rules on offshore investment, but predicts Indian insurance market will hit $90 billion by 2025 under new pensions law . Fierce competition, poor sales tactics and low returns are keeping profits in the industry back. Deutsche Asset Management creates a new regional role to develop its business of managing third-party insurance assets. Deal to spearhead group’s growth ambitions in Hong Kong and Indonesia. The mutual insurer will expand its agency sales force as well.