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Zurich exit from Singapore highlights industry change

29 Dec 15

The Zurich Insurance Group’s decision to pull out of the international life business in Singapore, where it had been a big part of the market for a long time, was the top story from Asia, among a series about industry restructurings which dominated coverage in 2015.

The Zurich Insurance Group’s decision to pull out of the international life business in Singapore, where it had been a big part of the market for a long time, was the top story from Asia, among a series about industry restructurings which dominated coverage in 2015.

Zurich’s decision in November followed the move to transfer its tied agency network to the Nexus Group from the Middle East in September, and news from Standard Life in June that it was to close its insurance operation in Singapore.

The moves were partly linked to the regulatory changes planned in the city state and the impact they are expected to have on profit margins going forward.

But they also came as life companies everywhere were facing unprecedented challenges to their business models.

International Adviser sought to shed light on the future for the international life companies were headed with these two galleries provided by Old Mutual and RL360°.

The future of the life industry: Eight predictions from Old Mutual Int’l

https://ia.cms-lastwordmedia.com/future-life-industry-predictions-mutual-int/

The future of the life industry: Eight predictions from RL360°

https://ia.cms-lastwordmedia.com/future-life-industry-rl360-david-kneeshaw/

Tags: Singapore | Standard Life | Zurich

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International Adviser covers the global intermediary market that uses cross-border insurance, investments, banking and pension products on behalf of their high-net-worth clients. No news, articles or content may be reproduced in part or in full without express permission of International Adviser.