Asia
axa hsbc property and casualty insurance
An alliance between Paris-based insurance giant Axa and London-based global banking giant HSBC, in the area of property and casualty (P&C) insurance, has moved forward, with the completion of Axa’s acquisition of the bank’s P&C operations in Hong Kong and Singapore.
resolution in discussions on possible sale
Resolution Ltd has confirmed that its Friends Life subsidiary is “in discussions on the possible sale of its 30% stake in AmLife Insurance Berhad and AmFamily Takaful Berhad” back to its partner in the joint venture arrangement, Kuala Lumpur-based AmBank Group.
employee choice opens for mpf investors
Investors in Hong Kong will, from today, be allowed to transfer contributions they have made into the national Mandatory Provident Fund to an MPF trustee and scheme of their choice.
hk financial services sec wants lower mpf fees
Hong Kong’s Secretary for Financial Services and the Treasury Ceajer Chan Ka-keung has called on the mandatory provident fund scheme providers to cut fees further.
sfc adviser review finds deficiencies
Hong Kong’s main financial regulator, the Securities and Futures Commission, said it has found “deficiencies” in the selling practices of licensed firms, after completing an inspection of companies selling investment products.