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  • September 22, 2014
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  1. Business - Money - INSURANCE

    City insurance authority bans indemnity commissions

    Posted Aug 05th 2014, 01:13pm by Benjamin Robertson

    ... Benjamin Robertson benjamin.robertson@scmp.com Sales of savings plans will be hit as brokers are prohibited from earning commission on long-term policies upfront in move to protect clients ... by persistent complaints of unscrupulous sales practices. The ban will hit a cutthroat insurance savings plan industry marketed to both expatriate and local investors, which combines life insurance, ...

    http://www.scmp.com/business/money/markets-investing/article/1566873/city-insurance-authority-bans-indemnity-commissions
  2. Business - Companies - INSURANCE

    Citibank bancassurance deal expected to add to strong sales growth for AIA

    Posted Feb 21st 2014, 02:57pm by Enoch Yiu

    ... to US$2.5 billion for the year to November, thanks to strong sales of new policies. Net profit, however, fell 7 per cent to US$2.82 billion owing to a drop in the mark-to-market value of its equity ... said the Citibank deal did not mean it would use fewer agents, who form AIA's core sales channel. ...

    http://www.scmp.com/business/companies/article/1432555/citibank-bancassurance-deal-expected-add-strong-sales-growth-aia
  3. Business - China Business - INSURANCE

    Hairy crab farmers get hot-weather insurance

    Posted Jul 11th 2014, 11:59am by Enoch Yiu

    ... not cover the price to be paid by the customers. If the summer is very hot, supply will fall, and the sales price will still be high." ...

    http://www.scmp.com/business/china-business/article/1551807/hairy-crab-farmers-get-hot-weather-insurance
  4. Business - Banking & Finance - INSURANCE

    Forced disclosure clause in draft insurance bill could kill industry, insiders complain

    Posted Jun 26th 2014, 09:38am by Jasper Moiseiwitsch

    ... be required to quantify and disclose all fees to the client before a sale. "There is a lot in the bill that is questionable and controversial. This is one of many items," said Adrian King, ...

    http://www.scmp.com/business/banking-finance/article/1540781/forced-disclosure-clause-draft-insurance-bill-could-kill
  5. Business - Companies - INSURANCE

    Sun Life pins hopes on agents for sales

    Posted Dec 09th 2013, 04:50am by Enoch Yiu

    ... on agents for sales While Zurich Insurance has decided to abandon sales through agents, Canadian insurer Sun Life Financial is going in the opposite direction and plans to almost double the number of agents in the next three years. Sun Life Hong Kong chief executive Wim Hekstra said a rise in agent numbers this year- from 1,000 to about 1,400- had helped boost life insurance sales by 50 per ...

    http://www.scmp.com/business/companies/article/1376215/sun-life-pins-hopes-agents-sales
  6. Business - Companies - INSURANCE

    Privacy law hinders direct sales

    Posted Nov 14th 2013, 03:10am by Enoch Yiu

    ... Enoch Yiu enoch.yiu@scmp.com New regulations banning cold calls unless customers allow them have hurt some insurers, but others are finding ways to adjust Privacy law hinders direct sales Amendments to Hong Kong's privacy law may have made it harder for insurers to sell products by cold calling potential customers, and has cut down sales in the second quarter. But it has ...

    http://www.scmp.com/business/companies/article/1355318/privacy-law-hinders-direct-sales
  7. Business - China Business - INSURANCE

    'Drunk insurance' being sold to Chinese World Cup fans

    Posted Jun 16th 2014, 03:07am by Kwong Man-ki

    ... regulator, he said. Online sales of World Cup pity insurance closed at midnight on Thursday, a few hours before the first match started. In more than a week, about 24 policies were sold. Stay tuned ...

    http://www.scmp.com/business/china-business/article/1533576/world-cup-fans-offered-novel-insurance-plans
  8. Business - Money - INSURANCE

    Yuan life insurance policies to remain popular in Hong Kong despite depreciation

    Posted May 19th 2014, 03:22am by Enoch Yiu

    ... to remain popular The depreciation of the yuan in recent months did not hurt sales of yuan life insurance policies as buyers are eyeing the longer-term growth of the currency, according to industry players. BOC Group Life Assurance chief executive Terry Lo Kin-wing said half the new life insurance sales at his company still came from yuan policies during the first quarter, similar to Hong ...

    http://www.scmp.com/business/money/markets-investing/article/1515192/yuan-life-insurance-policies-remain-popular-hk
  9. Business - Money - INSURANCE

    SFC to step up oversight of investment-linked insurance

    Posted May 21st 2014, 01:11am by Enoch Yiu

    ... loopholes that leave hapless investors at the mercy of unscrupulous high-pressure sales tactics, a senior government source told the South China Morning Post yesterday. All insurance companies ... the source added. Last year, the Hong Kong Monetary Authority tightened banks' sales of investment linked products. HSBC also changed policies by paying a fixed salary instead of commission ...

    http://www.scmp.com/business/money/markets-investing/article/1516720/sfc-step-oversight-investment-linked-insurance
  10. Business - China Business - INSURANCE

    Value and stable growth top Chinese insurers' agenda

    Posted Apr 12th 2014, 12:59am by Kwong Man-ki

    ... Kwong Man-ki in Beijing phoenix.kwong@scmp.com Surge in premium income is likely to ease as industry players pursue long-term profitability while diversifying into cost-saving sales ... "Technology can help integrate finance with people's daily life, and internet finance will strengthen sales channels." The two were pointing to the new direction of the latest round ...

    http://www.scmp.com/business/china-business/article/1476909/value-and-stable-growth-top-chinese-insurers-agenda

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