Fitch Ratings has revised the outlook on South Korea-based Hanwha Life Insurance's (HWL) Insurer Financial Strength (IFS) Rating and Long-Term Issuer Default Rating to 'Positive' from 'Stable'. HWL is among the country's top three life insurers.
Zurich Financial Services Australia has appointed Mr David Wainwright as CRO for Australia and New Zealand, effective 6 January 2025. He has close to 25 years of experience.
Taiwan's biggest life insurer, Cathay Life, reported a net profit of NT$47bn ($1.47bn) in 1H2024, a significant increase from NT$14bn in 1H2023. This 235.7% growth was mainly driven by higher investment income, said CreditSights, a unit of Fitch Group, in a commentary.
Minority shareholders of insurance companies are asking the board and management of insurers about their readiness for recapitalisation.
Parents in the UAE anticipate having to spend between AED250,000 ($68,100) to AED600,000 to finance the higher education of their children, according to the findings of a survey by commissioned by Zurich International Life (Zurich), a part of Zurich Insurance Group.
The National Financial Regulatory Administration (NAFR) has addressed more fully questions about allowing cross-border insurance access between mainland China and Hong Kong and Macau.
The Philippine Insurance Commission (IC) has issued guidelines on the conduct of institutional risk assessment relating to anti-money laundering and combating the financing of terrorism (AML/CFT) by insurance entities to ensure that such a review is carried out comprehensively and uniformly.
Sun Life has appointed Mr Niall Grady as CRO for Asia, effective 16 September 2024. In his new role, Mr Grady will support the acceleration of Sun Life's strategy and growth aspirations in Asia through active risk management and coordinated risk initiatives. He will also play a role in effective governance and ensuring synergies across operations in Asia.
Australia's Council of Australian Life Insurers (CALI) has opened applications for its annual ReCALIbrate programme aimed at supporting female risk advisers.
The National Financial Regulatory Administration (NFRA) has issued an exposure draft seeking feedback on proposals for financial institutions, including insurance companies and insurance asset management companies, to appoint a chief compliance officer (CCO).