Insurance

 In its China life insurance joint venture, HSBS Holdings enters to buy the remaining 50%  stake to fully own the company as China gears up its markets by removing foreign ownership  restrictions on foreign funded insurance companies.   This agreement will help HSBC to expand its mark in China, as part of CEO Noel Quinn’s plan  to boost the company’s business and enhance its investments and capital to Asia. In a  statement, Quinn tells that they are trying to make steps in their growth strategy, despite the  coronavirus pandemic, and that the transaction will help boost the ambition of accelerating  growth in their Asian franchise and further extend their capabilities in wealth.   As part of its broad overhaul announced earlier on February, HSBC, Hong Kong had turned its  focus on growth markets such as mainland China and Hong Kong.   After U.S. and Japan, China’s insurance comes third with an estimated $318bn in premiums,  and with current reforms in ownership restrictions, HSBC joins the list of companies as foreign  fully-owned insurers in mainland China. China opened its asset-management markets for wider  foreign firms and companies on April 1st this year despite the ongoing Covid-19 crisis.   

Despite burdened financial tightness, Oman Insurance Company (OIC) has announced to actively speed up claims payments on hospitals. OIC has already initiated and moved...

In a move to tackle an economic fallout due to coronavirus, Turkey takes important measures in the insurance...

The UAE Federal export credit company, Etihad Credit Insurance (ECI) is now in alliance with the...

Storm Dennis outbreak in the United Kingdom led to flooding and damage on the dates of...

In a continued harmony of 10 years, The Company for Cooperative Insurance (Tawuniya) lately signed an...

The officials at the California Department of Insurance proposed an amendment in state law in order...

Phoenix Group, the largest life and pensions consolidator in Europe is all set to buy the...

Life insurance sales have slumped in the third quarter, and the reason is low rates and...

The growth potential of the insurance industry in the Asian region has been reviewed by Alexander...