Asia
Korean insurer Hanwha to pump $134m into Indonesian expansion
Hanwha Life, South Korea’s second largest life insurer, is set to pump KRW150bn (£102m, €121m, $134m) into its Indonesian arm in a bid to expand its foothold in the country’s booming insurance sector.
Generali clinches life insurance licence in Philippines
Italy’s largest insurer Generali has been granted a licence to operate as a life insurance company in the Philippines, according to local media reports.
India takes big step forward on reforms, says Mirae
The passage of the Goods and Services Tax bill in India last week will simplify a complex tax code, boost consumer spending and enhance productivity – giving equities a tailwind, according to Mirae Asset Global Investments.
OMGI eyes China distribution, puts plans in place
Old Mutual Global Investors has begun implementing a strategy to build distribution relationships across mainland China, according to the firm’s managing director Warren Tonkinson.
Sun Life Financial to buy FWD Hong Kong’s pension business
The Hong Kong arm of Canada’s Sun Life Financial is to acquire the pension business of FWD Group and enter into an exclusive 15-year distribution agreement that will allow Sun Life HK to distribute its pension products through FWD’s agency force in Hong Kong.