Korean Hanwha Life Insurance is set to kick off direct investment in overseas real estate via new subsidiary in the US; Singapore's Temasek launches strategic partnership in Brazil with local partner; Japanese insurers expand overseas with acquisitions; Tokio Marine partners with Singapore insurtech VC firm; and more.
Former China Life Group CFO returns as company president; Prudential regional CEO for growth markets departs; Sun Life appoints chief client and innovation officer in Singapore; GIC head of data governance and management leaves after 23 years; Temasek director of investment for agri-food sector moves from San Francisco; VFMC hires head of equities from Hesta; and more.
AsianInvestor’s list of top 10 Asian investors by AUM remains largely unchanged since last year, with the exception of China Life Insurance, which climbed five places to number nine.
The largest life insurer in the country is continuing to make a longer-term push into bonds and some equities, but remains concerned about the potential for corporate credit defaults.
The state-owned insurer explains why it favours equities despite imminent risks, while taking a more cautious stance towards allocating overseas.
Market volatility has resulted in challenges in both equity and fixed-income investments for China's biggest lifer.
What it wants are relatively safe assets with stable income flow, which is probably why it is growing its allocation cautiously.
The largest lifer in China will entrust more assets to external managers while strengthening its performance review processes after net profit plummeted last year.
The largest insurer in China plans to invest more in high-yield stocks after investment returns dragged profit last year. It also outlined new ambitions after its management shakeup.
The biggest lifer in China said it is targeting further property investments as it outlined investment plans after announcing its results for the first six months of the year.
The biggest Chinese insurer by assets sees Hong Kong's new listing regime as beneficial as the firm looks to build its private equity exposure to the healthcare sector.
China's largest life insurer by investable assets seeks to close duration gap by increasing its exposure to alternative forms of debt, but analysts have liquidity concerns about such assets.