Insurance News ME

Aviva to focus on bancassurance tie-ups

The top UK life insurer hopes to enter new markets in Asia including Indonesia, Vietnam, Thailand and the Middle Eastern countries this year.

AIG Life to Expand Bancassurance in South Korea

AIG Life has maintained the top position in bancassurance for four consecutive years, in terms of first insurance premium payments,'' said Kim Myung-soo, head of bancassurance division at the insurer, in a press meeting held in downtown Seoul, Friday, to celebrate the fifth anniversary of the launch of bancassurance.

Sharia products help Pru make as much profit in Asia as in UK

Prudential is looking to expand into Egypt as the executive who runs the insurer's fast-growing Asian business seeks other markets with scope for rapid growth.

Aviva, Woori to sign $145 mln S.Korea insurer deal

British insurer Aviva and South Korea's Woori Finance Holdings have agreed to buy a South Korean insurance company in a consortium for 137.1 billion won ($145.2 million), both companies said on Thursday.

HSBC to commence selling insurance in Japan

HSBC, one of the world’s largest banking and financial services organisations, will offer both life and non-life insurance products in Japan as part of its new HSBC Premier service that will be launched on 31 January 2008. HSBC Premier will be launched through the HSBC Group subsidiary, The Hongkong and Shanghai Banking Corporation Limited.

HSBC distributes insurance products for Bao Viet

The HSBC Vietnam Monday began distribution of insurance products for Bao Viet Vietnam, a member of Bao Viet Holdings.

Muang Thai to lift telemarketing sales - partnership with KBank big success

Muang Thai Life Assurance is set to tap into the database of Kasikornbank next year to expand its telemarketing sales following a success in their bancassurance partnership, which generates about 3.4 billion baht in new sales for Muang Thai Life this year.

Japan - SBI'S Insurance Joint Venture receives business license

Japan's SBI Holdings Inc. said Wednesday that its nonlife insurance joint venture with Aioi Insurance Co. and Softbank Corp. obtained a business license from the Financial Services Agency.

Rating actions taken on six HSBC insurance subsidiaries - S&P

Standard & Poor's Ratings Services said it has taken rating actions on six insurance subsidiaries of HSBC Insurance Holding Asia-Pacific Ltd, which is ultimately owned by Hongkong and Shanghai Banking Corp Ltd.

Cholamandalam MS enters into partnership with IndusInd Bank

Cholamandalam MS, General Insurance Co. Ltd. (Chola MS), a joint venture between Murugappa Group and Mitsui Sumitomo Insurance of Japan, today announced a bancassurance tie-up with IndusInd Bank, one of the leading new-generation private-sector banks in India.