China plans to merge banking, insurance regulators
China is planning for the biggest ministry revamp in years, including the merger of its banking and insurance regulators to reduce risks to its financial system from a rapid build-up…
China takes over insurer that owns Waldorf Astoria
The Chinese government is the new owner of the Waldorf Astoria hotel in New York after seizing control of the politically well-connected Anbang insurance group and prosecuting its chairman for…
Standard Life exits insurance business
Standard Life Aberdeen Plc is getting out of the insurance business. The Edinburgh based company agreed to sell the unit to Phoenix Group Holdings for £3.2 billion ($4.5 billion). The…
$6.2 billion charge by GE
“At a time when we are moving forward as a company, a charge of this magnitude from a legacy insurance portfolio in run-off for more than a decade is deeply…
Munich Re to pay stable dividend of €8.60 per share despite high hurricane losses – Slight improvement in reinsurance prices
Munich Re achieved a result of €392m in 2017 – thus attaining the adjusted “small profit” forecast it had projected for the year in the wake of the high losses…
Swiss Re and India’s National Insurance Academy sign MoU to develop insurance industry skills
Swiss Re's Global Business Solutions unit in India has signed a memorandum of understanding (MoU) with National Insurance Academy (NIA), Pune, India’s premier institute of insurance education to collaborate as…
Bank of England might ease EU insurance rule
British lawmakers wish the Bank of England to “urgently alter the risk margin in EU insurance capital rules known as Solvency II. This refers to a capital add-on to cover…
GIFT city invites foreign insurers
IRDA has permitted foreign insurance and reinsurance companies to open offices at the Gujarat International Finance Tec-City (GIFT) - International Financial Services Centre (IFSC) and accept dollar business. The insurance…
Deutsche Bank Forms Bancassurance Partnership with Digital Broker Friendsurance
Deutsche Bank and Friendsurance expect clients will increasingly turn to digital brokers for their insurance needs in the coming years. The companies noted that premiums for property and casualty insurance…
RenaissanceRe to Buy Minority Stake in Run-Off Firm Catalina Holdings
Renaissance Re said that its investment will help give Catalina strategic benefits and help the business explore a wider range of transaction structures as it grows. “We’re delighted to welcome…