The General Insurance Association (GIA) of Singapore has launched its Myinfo Reporting service.
The Monetary Authority of Singapore (MAS) encourages all insurers, both local and foreign, to continually innovate, adopt best practices and ensure robust risk management. This will foster a competitive insurance market that offers choice, value and stability to protect the interests of policyholders.
The operating performance of Singapore-based non-life insurer, United Overseas Insurance (UOI), is very strong, supported by exceptionally strong and consistent underwriting results, which have led to highly stable overall earnings over time, said AM Best.
Kairos Risk Solutions has signed an agreement with Thailand's CHAZ Insurance Brokers to provide consultancy for parametric and trade credit insurance.
Great Eastern Holdings (GEH), a leading insurer in Singapore, has announced that profit attributable to shareholders jumped by 34% to S$587.1m ($438.9m) for the first half of this year, compared to the corresponding half-year in 2023.
To commemorate Singapore's national day celebrations, AIA is offering six months of complimentary holistic insurance coverage for critical illness and mortality as well as complimentary teleconsultations to residents.
The Monetary Authority of Singapore (MAS) has issued a circular providing further guidance to financial institutions (FIs) in the wealth management sector on the establishment of the sources of wealth (SOW) of their customers, including the risk principles that FIs should consider in the designing of their policies and procedures to establish SOW of their customers in a risk-proportionate and reasonable manner.
Germany-based global composite insurer Allianz SE's proposed acquisition of Singapore's Income Insurance should not materially change the competitive landscape in Singapore's insurance market, says Fitch Ratings.
Prudential Financial Advisers Singapore (PFA) has appointed Mr Jeff Ang as CEO. He succeeds Mr Bernard Chai, who will be retiring at the end of the year. Mr Chai will remain at PFA as an advisor till then to ensure a smooth transition.
German global insurer Allianz's proposed acquisition of a majority stake in leading Singapore insurer, Income Insurance, would clearly strengthen Allianz's business profile in Asia, a strategic area of growth for the group, says Mr Manuel Arrive, a director of insurance at Fitch Ratings.