Shinhan Financial Group has signed a stock purchase contract to acquire a 77.04% stake in Lotte Non-Life Insurance from JKL Partners for KRW693.3bn ($515m), marking a major move to expand its non-banking portfolio and elevate its standing in South Korea's non-life insurance sector.
Four pension companies in Shanghai are participating in a pilot programme for commercial pension business. The four are China Life Pension, PICC Pension, Taiping Pension and Guomin Pension.
Income Insurance has announced that Mr Khoo Kah Siang will be taking over as its new CEO, effective 23 January 2027 and subject to regulatory approval.
Ageing New Zealanders are finding it difficult to make the two ends meet as the surging cost of living hits them hard, according to a new survey.
The ageing global population is fundamentally reshaping the financial services industry while placing significant strain on public pension and insurance models. As populations transition toward retirement, financial institutions are pivoting from simple wealth accumulation to complex decumulation, longevity risk management, and intergenerational wealth transfer services. Meanwhile, governments are paring back or will eventually have to reduce the financial support for the elderly population as the fiscal burden becomes too much to bear.
Sukoon Insurance, a leading insurer in the UAE, and the trade body, Dubai Chambers, have signed a Memorandum of Understanding (MoU) to give members of the Dubai Chamber of Commerce access to customised insurance, investment, and employee benefit solutions.
Singapore Actuarial Society President Alex Lee has called on actuaries to invest time and energy to study human and physical history properly, explore alternative views of risk and optimise their work for long-term survival.
As part of a broader plan to liberalise foreign insurer access to Kazakhstan, the country is considering lowering barriers to entry.
Australia's proposed reduction in the private health insurance rebate for older Australians has raised concerns that higher out-of-pocket costs could prompt some retirees to drop or downgrade their cover, potentially adding pressure to the public healthcare system.
The insurance part of pensions is set to increase, and minimal pension to be raised, to KGS8,800 ($100) in Kyrgyzstan, effective 1 October 2026.