Asia
Australia to allow 60% commissions on life insurance products
Australia’s government has confirmed it will allow life insurance brokers to pocket commissions as high as 60%, after resisting calls for them to be banned altogether.
FPI Singapore director Simpson quits, HK head moves to Aviva
Sweeping changes at FPI’s Asia operations sees the departure of long-standing Singapore sales director Toby Simpson, and interim appointments put in place after Hong Kong regional head Charles Barrows takes on a role to build Aviva’s Indonesia life business.
Generali to exit Guatemala and Liechtenstein
Italy’s largest insurer Generali is set to pull out of Guatemala and Liechtenstein after signing agreements to sell its operations in two separate deals.
Chinese insurers make beeline for UK and Europe
Large Chinese mainland insurance companies are on a mission to diversify their asset base and have the UK and Europe in their sights as they look to deploy their money around the world.
Australian regulator ends legal case against two LM directors
The Australian corporate regulator has abandoned a civil penalty action against two former directors of the collapsed Queensland-based fund manager LM Investment Management (LMIM).