Insurance News ME

India-Bancassurance contributes major chunk for private players

Chennai, June 29 The insurance sector has witnessed a phenomenal growth over the past few years. In 2007-08, growth in premiums was over 40 per cent. Many private players are growing at rates above 70 per cent. Insurance premium collections have touched 4.1 per cent of the GDP.

EastNets launches UniRisX eInsurance Service in UAE

EastNets is engaged in the provision of handling confidential transactions primarily for the financial, corporate and government sectors in Europe, United States of America, the Middle East and Africa.

Bancassurance Drives up China Life's Premiums

China's biggest life insurer China Life Insurance Company Limited (China Life, 601628.SH, 2628.HK) reaped premiums of CNY 151.5 billion in the first five months of 2008, thanks to contributions made by bancassurance business, according to latest data from the listed insurer.

Canara, HSBC and OBC life insurance co launched

Canara HSBC Oriental Bank of Commerce Life Insurance Company Ltd, a partnership between two nationalised banks -- Canara Bank and Oriental Bank of Commerce and HSBC Insurance (Asia Pacific) Holdings Ltd, the Asian insurance arm of HSBC, today commernced operations

U.S. insurer in talks with the big banks

BEIJING, June 17 -- The American International Assurance Co is to cooperate more closely with banks to boost its bancassurance business in China, a senior executive said yesterday.

Aviva says Amro ends Dutch joint venture

Aviva said its Dutch-based business Delta Lloyd has been notified that ABN Amro will end its 30-year bancassurance agreement and wants to buy out the insurer's share of the joint-venture.

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.

Aviva joins hands with IndusInd Bank

In an effort to create awareness on the importance of life insurance and financial planning among the people of Kerala, Aviva Life Insurance has joined hands with IndusInd Bank to launch a social responsibility initiative.

New York Life sees strong growth for Thai affiliate

New York Life International, the global arm of US-based New York Life, says it is committed to leveraging its skills, expertise and capital to make its local joint venture _ Siam Commercial New York Life Plc (SCNYL) _ the No. 1 life insurer over the next few years.

Aviva says buying insurance arm of RBS 'would not make sense'

Aviva, Britain's biggest insurer, has ruled itself out of the running to buy Royal Bank of Scotland's general insurance division, leaving the way open for overseas insurers or buyout firms to snap up the business, which includes Direct Line and Churchill.