Insurance

IRDAI assembles taskforce for bancassurance

The share of banks as corporate agents was 5.93% of non-life insurance and 17.44% of new business premiums in 2022-23.

IRDAI assembles taskforce for bancassurance

The share of banks as corporate agents was 5.93% of non-life insurance and 17.44% of new business premiums in 2022-23.

Zurich acquires 51% stake in Kotak Mahindra Bank's general insurance arm

The insurer said it plans to buy 19% more in the future.

Tonik digital bank enters the insurance market

The partnership with Sun Life Grepa will offer credit life and disability insurance.

S.K.’s FSC raises KRW73.8t in policy funds for venture capital in FIs

This exceeded the initial supply plan of 66.7% by August and achieved 80.4% of the annual target.

MAS-licenced MoneyOwl to wind down financial advisory business

The company found that its advisory business is not financially viable.

Alipay+, Malaysia’s PayNet ink deal for smooth digital payments

This further expands the regional cross-border digital payment plan of Alipay+.

China taps banks to bolster cross-border trade, offer financial support

Additional support will be provided for export-related credit insurance.

Lexasure engages in partnership for auto insurance

The partnership aims to service Singapore and Cambodia’s markets.

Hong Leong Bank, Chubb Life collaborate to offer life insurance in Vietnam

The bank’s range of life insurance solutions is in line with its goal of financial inclusion.

CIMB collaborates with Sun Life and CTOS, to introduce ASB financing solution

It aims to amplify financial literacy amongst Malaysians.

AXA, Carbon Wallet partner to reward green lifestyle

This partnership incentivises actions toward a sustainable lifestyle.

FWD and SCB add 2 years to Thailand bancassurance contract

The collaboration with SCB has the largest contribution to FWD Thailand’s business.

BEA completes sale of insurance and healthcare business

Both were sold to AIA Group.

Crédit Agricole CIB announces new senior hires for APAC

The hires are for the Debt Origination and Advisory department.

Taiwan bad loans climb to $2.24b in February

NPL ratio of all 39 domestic banks also increase to 0.18%.

Tonik hires former Google and Facebook exec

He will take on the role of Chief People Officer.

Thailand bars use of cryptos as mode of payment

The government said that digital assets are a threat to the nation’s financial system.