Tokio Marine Life Insurance Singapore Ltd (TMLS) has launched a financial advisory subsidiary, Tokio Marine Financial Advisers (Singapore) Private Limited (TMFAS), through which it plans to deliver a comprehensive range of financial planning and wealth management services to its clients.
Financial services agency, Terence Lau & Associates (TLA), plans to increase the size of its organisation in Singapore to meet the growing needs of the market.
AIA Singapore has appointed Mr Afees Ashroff as chief technology officer. He succeeds Mr Peter Lee.
Great Eastern has said that the close of an offer on 12 July 2024 by OCBC, one of Singapore's Big Three banks, means that while there is a change in the number of shares held by OCBC in Great Eastern, there is no change to the businesses of the insurance company.
Private insurers in Singapore are engaged in a race to the bottom as they are offering very attractive terms to encourage sign-ups and win market share, the Minister for Health, Mr Ong Ye Kung, has said.
There is good potential for the growing institutional and private wealth investor base in Asia, including Singapore, to invest in insurance linked securities (ILS), according to Mr Lim Cheng Khai, executive director of the Financial Markets Development Department of the Monetary Authority of Singapore (MAS).
The Inland Revenue Authority of Singapore (IRAS) has agreed to accept the loss triangulation method, which elicits loss development patterns based on historical data collated in the form of basic loss development triangles, to arrive at the provision for IBNR claims for tax deduction purposes.
The Singapore Reinsurers' Association (SRA) has announced its new Executive Committee line-up for 2024-2025 as well as its new logo and website.
FWD Singapore has formed a partnership with Income Insurance to provide customers with vehicle insurance coverage with effect from 2 July 2024.
Cathay Life Insurance, Taiwan's biggest life insurance company, has seen its issuance of $600m 10-year overseas subordinated corporate bonds oversubscribed by around three times.