Asia
Global life premiums growth led by Asia acceleration
Global life premiums growth in 2018 and 2019 will continue to be carried by the strong performance of emerging markets, in particular China, as advanced markets continue to experience sluggish growth, according to a report by Credit Suisse.
HSBC fined record HK$400m for Lehman Brothers-related failures
A Hong Kong tribunal has upheld disciplinary action taken against the local branch of HSBC Group’s Swiss private banking business for “material systemic failures” in relation to the sale of structured products, including from Lehman Brothers, in the run up to the global financial crisis.
Chinese regulator sanctions firms for dodgy insurance products
China’s insurance regulator has banned three life insurance firms from applying for permission to sell new products for six months, after it found they had been offering “problematic” policies.
Analysis: Advisers in Asia are branching out
Shifting demographics and regulation have created greater overlap between the domestic and expat advisory markets, with firms across Asia eyeing opportunities on both sides of the street.
UBS AM launches onshore fund in China
UBS Asset Management’s Shanghai-based wholly foreign-owned enterprise (WFOE) has launched an onshore equity fund for domestic high net worth individuals and institutional investors in China.