Official retirement ages across Asia are out-of-date and need to be raised, said majority of Asian investors, according to new research from Manulife.
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Two insurance industry heavyweights - Ms Inga Beale, CEO of Lloyds, and Mr John Tan, Group Chief Executive from Singapore-headquartered reinsurance group, ACR Capital Holdings - will be the keynote speakers at the 27th East Asia Insurance Congress (EAIC).
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Willis Group Holdings plc, global risk adviser, insurance and reinsurance brokers, has received the relevant regulatory approvals from the Monetary Authority of Singapore and has completed acquisition of specialist broker Charles Monat Ltd, a life insurance solutions provider to high net worth clients.
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The waters in Southeast Asia is still among the world's most unsafe places for vessels because of pirate attacks, said International Business Times.
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Allied World has opened a new branch office of Allied World Assurance Co Ltd in Sydney, Australia to further expand distribution networks in the Asia Pacific region.
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With half the population in the country being women, Green Delta insurance company (GDIC) has launched a first of its kind comprehensive insurance scheme for women only in Bangladesh.
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Green Delta Insurance Company has partnered with the Chartered Insurance Institute (CII) of UK to set up an insurance training institute in the country.
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The Institute and Faculty of Actuaries (IFoA) has been granted a business license in Beijing, making it the first and only international actuarial association with a legal presence in the country.
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Asia Risk Centre, a provider of risk quantification models in agriculture, said Swiss Re and the People's Insurance Company of China (PICC) have licensed its China Agriculture Model, thereby taking it closer to becoming the benchmark for modelling agriculture risks in China.
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The Chinese insurance market will more than double by 2020 and will then be the third largest market worldwide. With premium volume of around EUR210 billion (US$288 billion) in 2013, China's insurance industry was already the fourth largest primary insurance market worldwide, said Munich Re.
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The National Total Emission Control Program of the 12th five-year plan (FYP) in Hong Kong is unlikely to be an effective measure to reduce the number of summer ground-level ozone (O3), said Guy Carpenter Asia-Pacific Climate Impact Centre (GCACIC) in its fifth annual report.
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Peak Reinsurance Co Ltd, a leading Hong Kong-based reinsurer, has been granted a licence to underwrite long term reinsurance business by the Office of the Commissioner of Insurance of Hong Kong on 3 June 2014.
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PT Asuransi MAIPARK Indonesia (MAIPARK) has obtained approval from the Financial Services Authority (OJK) to change its license from a general insurer to a reinsurance company effective 10 April 2014.
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KB Financial Group Inc has been chosen as the preferred bidder to acquire a 19.83% stake in South Korea's LIG Insurance Co Ltd, according to The Korea Times.
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The two-year legal dispute between takaful and traditional players over takaful operations in the country has been resolved.
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The Pakistan Government has launched a National Health Insurance Scheme that will cover in phases, over 100 million poor citizens of the country.
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The Philippine insurance regulator has highlighted the bigger role of credit ratings in the country's regulatory system, as the local insurance industry goes through a transition with the amended insurance code implemented last year.
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In a bid to design a universal healthcare insurance scheme that will cover all Singaporeans for life, even those with pre-existing conditions, the MediShield Life Review Committee has outlined its recommendations to the Singapore government to remove the lifetime claim limit of S$300,000 (US$239,000) and having the government bear most of the costs of universal coverage.
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RMS, a leading catastrophe risk management firm has opened a Singapore office last month. Led by Mr Paul Burgess, senior director of client development, the Singapore office joins other RMS offices in Delhi, Beijing and Tokyo in the Asia Pacific region.
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Heavy rains have caused landslides and flash floods in the western and central parts of Sri Lanka in early June, damaging homes, affecting an estimated 100,000 people, and displacing over 27,000 people.
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Global insurance giant American International Group (AIG) is pulling out from Sri Lanka, the company said in a statement.
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