Campaigners are demanding a windfall tax on UK banks, estimated to raise £19bn, following HSBC's $10.1bn second-quarter profits. The funds could support cost of living initiatives, while banks face scrutiny over profit distribution and lending.
Europe confronts an existential challenge: how to defend itself against Russia with diminishing US support. This realization is accelerating defense budget increases and prompting discussions around 'Nato 3.0' and the potential for European-led security initiatives like 'coalitions of the willing'.
Indian government plans to sell up to 6.5% of LIC shares at a 10% discount, aiming to raise up to 314 billion rupees ($3.3B) and meet 2032 public shareholding targets.
California insurance regulators have granted final approval to a settlement with State Farm General, saving homeowners and renters approximately $530 million. The deal, reached with Consumer Watchdog, limits proposed premium increases and mandates refunds with 10% interest for certain policyholders.
Irdai Chairman Ajay Seth proposed a public register to trace insurance policy sellers, aiming for accountability. While acknowledging the need to tie rewards to advice quality and penalize unsuitable sales, the article suggests deeper reforms impacting commissions are unlikely to be implemented due to industry resistance.
IRDAI Chairman Ajay Seth proposed a public register to trace insurance policy sellers, aiming for accountability. The author argues this database, while easy to implement, won't solve the core issue of mis-selling driven by sales incentives, which the industry is unlikely to change.
India's new space object re-entry guidelines, issued by IN-SPACe, have brought the country's limited commercial space insurance capacity into focus, leading to calls for specialized products and pooled capital.
HKEX is launching 5-year China government bond futures, receiving positive feedback from international institutional investors. These will be the first offshore products enabling investors to manage risks in Chinese treasury bonds at low cost, bypassing the QFII quota requirement.
The U.S. Office of Foreign Assets Control sanctioned HormuzSafe Marine Services Authority and Persian Gulf Marine Insurance Company for operating in Iran's financial sector and supporting an IRGC-backed scheme. The firms allegedly force commercial vessels to buy insurance for Strait of Hormuz passage, with HormuzSafe accepting Bitcoin to bypass sanctions.
A primeira pesquisa FeMa Meter da Susep revela que mulheres representam 54,4% da força de trabalho no mercado de seguros e previdência privada aberta no Brasil, mas ocupam apenas 28,5% dos cargos de gestão e 18,5% dos conselhos, além de contratarem menos produtos que homens. Os dados servirão de base para políticas públicas de inclusão.
The U.S. Treasury sanctioned two Iranian firms, Persian Gulf Marine Insurance Company and HormuzSafe Marine Services Authority, for requiring vessels to buy IRGC-approved 'insurance' to transit the Strait of Hormuz. HormuzSafe accepts Bitcoin and other digital assets to evade sanctions, despite prior skepticism from blockchain analysts about crypto's scale use for such tolls.
An elderly public housing tenant in NSW will receive full compensation from the government after Homes NSW disposed of her sewage-damaged belongings without consent and mishandled her insurance claim, as per an Ombudsman's report.
Hong Kong's life insurance industry recorded HK$141.1 billion (US$18 billion) in new policies in the first quarter, a significant increase from the previous year. This marks the third consecutive record-breaking first quarter since the Insurance Authority's establishment in 2016, following Manulife's redomiciliation to the city.
HSBC has agreed to sell its Singapore life and health insurance business, HSBC Life Singapore, to Germany’s Allianz for S$2.7 billion (US$2.08 billion). The deal, expected to finalize in H1 2027 pending regulatory approval, includes a 15-year bancassurance agreement and is projected to generate a US$1.8 billion pre-tax gain for HSBC.
Allianz Group has agreed to acquire HSBC's Singapore life insurance unit for S$2.7 billion ($2.09 billion), expanding its presence in Asia's life and health insurance market. The deal, expected to close in H1 2027, includes a 15-year exclusive distribution partnership with HSBC Singapore.
Insurance tech startup Corgi is reportedly raising a B2 extension round, closely following its B1 raise, which would double its valuation. The Y Combinator alum, offering AI-powered insurance, data room software, and coffee shops, is backed by TCV and Kindred Ventures, with revenue projected to hit $450 million by year-end.
Zhibao Technology Inc., a Nasdaq-listed Chinese InsurTech company, announced a non-binding term sheet to receive approximately 3,500 Bitcoin ($220M) as payment in a PIPE financing. The deal would give buyer Joyertech and Information OPC majority control of Zhibao.
U.S. Treasury yields, including the 10-year note, advanced significantly as Brent crude surpassed $100/barrel due to Middle East tensions, fueling inflation fears. This, coupled with weekly jobless claims falling below 200,000, increased expectations for a Federal Reserve interest rate hike.
Insurance costs for ships crossing the Strait of Hormuz and Bab al-Mandeb have risen sharply as war-related disruption reduces traffic and raises attack risk. S&P Global says premiums in Hormuz have climbed to 7.5%-10% of hull value.
Bảo hiểm PVI được InsuranceAsia News vinh danh ở 4 hạng mục tại Country Awards for Excellence 2026, bao gồm Doanh nghiệp bảo hiểm phi nhân thọ tốt nhất và CEO xuất sắc. Công ty cũng nhận giải từ World Finance, ghi nhận kết quả kinh doanh, chuyển đổi số và quản trị bồi thường.
Shanghai, home to the world's largest container port, has released a five-year plan to enhance its shipping services sector, leveraging AI and automation. The strategy aims to expand value-added industries like financing, insurance, and legal services, intensifying competition with hubs such as Hong Kong, Singapore, and London.
Lloyd's of London found former CEO John Neal and former corporate affairs director Rebekah Clement breached compliance rules by not disclosing a "sufficiently close" relationship, creating a perceived conflict of interest, though no romantic relationship was conclusively proven. Clement is considering legal action.
Lloyd's of London ruled its former CEO John Neal breached compliance rules by not disclosing a "close relationship" with Rebekah Clement, risking a perceived conflict of interest. An investigation found no romantic involvement or promotion failures but noted Neal's conduct didn't change despite concerns, leading to a report to the FCA. Clement is considering legal action.
A West Health-Gallup report reveals 23 million US adults, nearly a quarter of workers, are trapped in "job lock" due to health insurance, a significant rise in five years. This issue, exacerbated by chronic conditions and rising healthcare costs, impacts worker mobility and the economy.
