Prudential Plc News

Singapore Lender UOB Reviews Non-Life, Life Bancassurance Businesses: Sources

Singapore lender United Overseas Bank Ltd. is reviewing its insurance business, including an existing partnership with Prudential Plc, after Southeast Asia witnessed a wave of lucrative distribution deals, people familiar with the matter said. UOB has been soliciting ideas from …

China’s Ping An Insurance Profits Rise 34% in First Half, Biggest in 10 Years

Ping An Insurance Group Co of China , the country’s largest insurer by market value, on Tuesday reported its biggest half-yearly profit in at least a decade on robust customer growth. The results underline strength in Ping An’s business versus …

China’s Tech-Focused Insurer Ping An May Be Poised for Major Asian Growth Leap

China’s Ping An Insurance (Group) Co. has 23,000 research staff, 500 big-data scientists and spends billions of dollars a year on R&D. Last year, it attracted 46 million new customers, equivalent to the population of Spain — almost all of …

Allianz, AXA Bid for Rights to Sell Products via StanChart Outlets in Asia: Sources

Allianz SE, Europe’s biggest insurer, and France’s AXA SA were among first-round bidders for the rights to distribute general insurance products through Standard Chartered Plc outlets in Asia, according to people with knowledge of the matter. A unit of MS&AD …

Kenyan Insurers Face New Capital Rules Which Could Lead to Market Shakeout

A push by Kenyan regulators to clean up the East African country’s insurance industry is poised to trigger stake sales or exits by underwriters unable to meet the new capital requirements, according to an industry group. Most companies missed a …

Global, Diversified Multiline Insurers Best Placed to Withstand Challenges: S&P

Global, diversified insurers are best positioned to withstand the industry’s top economic and competitive challenges, according to a report published by Standard & Poor’s Global Ratings. Geographic and product diversification help global multiline insurers (GMIs) cope with challenges such as …

Inclusion on List of Too-Big-to-Fail Insurers May Alter Business Strategy: Fitch

A change to the list of globally systemically important insurers (G-SIIs) suggests the potential for being added to or removed from the list could play a significant role in setting strategy for some major insurers, according to Fitch Ratings. The …

Aegon, Transamerica’s Owner, Added to FSB’s List of 9 Too-Big-to-Fail Insurers

Aegon NV, the Dutch owner of U.S. insurer Transamerica Corp., has been added to a list of insurers deemed systemically important by global financial rule makers, while Italy’s Assicurazioni Generali SpA was removed. The updated list of nine too-big-to-fail insurers …

Too-Big-to-Fail Insurers Face 10% Hike to Capital Requirements: Int’l Regulators

Global insurers with the greatest ties to the financial system would face an average increase of 10 percent to capital requirements under new standards proposed by a group of regulators. The increase would be as high as 18.75 percent for …

U.K. Insurers to Invest $41 Billion in Infrastructure

The U.K.’s largest insurance companies will invest £25 billion ($41 billion) in infrastructure, as the government prepares to update its plan for projects from energy and transport to communications. The government will today publish a refreshed version of its National …