• Fri
  • Dec 19, 2014
  • Updated: 8:32am

Insurance Industry

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

Mark Tucker says AIA will expand its business mainly through organic growth, though he will not rule out acquisitions. Photo: Thomas Yau

AIA, the second-largest Asian insurer by market value, expects to expand its business this year by way of organic growth and through its new regional bancassurance deal with Citibank, chief executive Mark Tucker said.

Saturday, 22 February, 2014, 4:52am

After belated securities reform, Hong Kong should look at insurance regulation

Scripless trading, the final key recommendation in Ian Hay Davison's 1988 report, looks set to pass into law this year. Photo: M. Chan

Twenty-five years after it was proposed, the Hong Kong stock exchange is finally going to implement a key reform that will bring it in line with late-20th century practice.

In a city known for its efficiency, that is amazingly tardy. But better late than never.

6 Jan 2014 - 10:24am

Scrap new insurance tax, says consumer rights chief

Consumer Council chairman Professor Wong Yuk-shan

The new head of the consumer watchdog is seeking to overturn a government proposal for a levy on policy-holders to pay for a new insurance authority.

"It is unfair that the consumers should bear most of the cost," said Consumer Council chairman Professor Wong Yuk-shan.

16 Apr 2013 - 4:49am

Insurers feel the pain of anti-laundering law

Chan Kin-por

Insurers have complained that the anti-money laundering law introduced a year ago puts too big a burden on their shoulders. Some of the conditions should be changed or removed because they had gone too far and made life tough for insurers, said insurance sector legislator Chan Kin-por.

18 Mar 2013 - 4:44am

Property Digest, January 23, 2013

Luxury flat rents fell 1.3 per cent in December, compared with a 0.2 per cent fall in the previous month, due to the government's tightening measures and the festive holidays, according to Ricacorp Properties, which monitors the rents of 35 luxury developments in Hong Kong.

23 Jan 2013 - 4:47am

Insurance novice Charoen Pokphand Group is Beijing's friend

Dhanin Chearavanont

The Charoen Pokphand Group, which bought HSBC's 15.6 per cent stake in Ping An Insurance, is a newcomer to the insurance business. It is better known for its chicken meat and animal feed.

The Thai-based conglomerate can trace its roots to China as its founders, brothers Chia Ek Chor and Chia Siew Whooy emigrated from Guangdong to Thailand.

6 Dec 2012 - 7:39am

Prudential buys Thanachart insurance arm

Barry Stowe

Prudential, Britain's biggest insurer by market value, plans to buy the life insurance business of Thanachart Bank in Thailand for £368 million (HK$4.5 billion).

The deal is part of Asia's insurance industry consolidation, highlighted by Richard Li Tzar-kai's purchase of ING's insurance business in Hong Kong, Macau and Thailand last month.

6 Nov 2012 - 4:24am

New Home Ownership Scheme measure a boost for housing market in Hong Kong

By relaxing sales restrictions in the HOS market, the government is able to help the needy.Photo: Felix Wong

Premium is a word with multiple meaning. In the insurance industry, a premium is the monthly or annual financial cost for obtaining insurance coverage. In the financial world, a premium may refer to the monetary difference between a future and a spot price. And in the property market, it is the common term to describe an amount paid above what is regarded as a normal price.

15 Aug 2012 - 5:34am

Be sincere and don't be blinded by gold's glitter

Kit Ho (left) has been working in the insurance industry for three years. Currently, she works as a team manager at Prudential Assurance, Hong Kong. Ho says that she really enjoys her work, because it helps those in need. She talks to Chiu Po-sze

What is your academic background?

A bachelor's degree in social sciences from Hong Kong Baptist University.

13 Jan 2012 - 12:00am

More transparency needed for insurers

Property agents and stock brokers are among the most unloved people in the world. They feign sincerity in looking after your interests when it's the commission they get for closing a deal that most interests them. Even so, we usually know how much they charge for services rendered. Not so when it comes to insurance agents. This is a worldwide anomaly and it should be corrected.

2 Jan 2010 - 12:00am

PREMIUMS SOAR

China's insurance industry, in which foreign insurers are eager to enter, posted a record premium income of 305.3 billion yuan (about HK$286.61 million) last year, up 44.7 per cent year on year - the strongest growth since 1992.

25 Jan 2003 - 12:00am

Insurers want voice on council after handover

The insurance industry will submit a formal request to the Preparatory Committee by the end of this month for an independent insurance constituency seat in the first legislative council next year.

6 Mar 1997 - 12:00am