All articles by Peter Johnstone
Peter Johnstone
Cambodia: positioned for growth
Cambodias booming economy coupled with a competitive workforce and a rapidly growing middle class, appear to be laying the foundations for a sustainable life insurance industry in the country
Barclays launches Zambian life insurance business
The company says that it will provide Zambians with a range of tailored insurance products, including credit life protection on loans, funeral cover on deposit accounts, and a standalone family protection plan. Absa CEO Maria Ramos said: The Zambian regulatory environment and soundness of the countrys economic profile, with increasing levels of economic activity lends to a requirement for increased services to protect the customer
Aviva’s Malaysia JV attracts growing interest
Aviva has reportedly shortlisted potential buyers including Prudential, Manulife, AIA Group and Sun Life Financial for the sale of a 49% stake in its insurance joint venture in Malaysia with CIMB Group
Major US health insurance reform given green light
The US Supreme Courts decision to uphold the Affordable Care Act (ACA) means that from 2014 the 30 million Americans who do not yet have health insurance, will be have access to affordable private health insurance plans, according to President Obama The Affordable Care Act (ACA) was signed into law in 2010, but opponents of the reform claim that the laws individual responsibility provision exceeds Congress power to regulate interstate commerce because it penalizes inactivity.
Cambodia officially inaugurates first life insurance company
Cambodia has reportedly launched its first life insurance company, with the official inauguration of Cambodian Life In September 2011, Life Insurance International reported that the new company is an initiative of the Cambodian government which will retain 51% of Cambodian Lifes equity following its establishment. The remaining 49% will be divided between four foreign insurers: Indonesian insurer PT Asuransi, Thai insurers Bangkok Life Assurance and Bangkok Insurance Public, and Hong Kong-based Asia Insurance Group.
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ING Asian insurance sale attracts interest
A sale of INGs Asian life insurance business would help the financial institution repay the remaining 3bn ($3.8bn) of state aid it received as part of the capital support facilities it received by the Dutch government during the financial crisis ING spokeswoman Carolien van der Giessen said: We are exploring options for our Asian Insurance and IM activities and while all options are open, we are currently exploring options for a sale.
MetLife’s Wheeler: ‘Bank-centric rules are “wholly inappropriate” for insurers’
MetLifes insurance business should not be governed by regulations written for banks, according to William J This was the argument prepared for Wheelers recent testimony to the US House of Representatives Financial Institutions and Consumer Credit Subcommittee