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Welcome to the Duxes Insurance Rundown, your premier source for insurance news, views, and forecasts. As detailed below (and available for download in .pdf form), this quarterly newsletter includes an interview with an industry expert, breaking industry news, and explanations of the Chinese government’s latest policies and regulations.
STATE OF THE INDUSTRY
EXCLUSIVE ARTICLE

Pakistan’s Booming Insurance Industry

Mr. Hasanali Abdullah is Chartered Accountant and Certified Director from Pakistan Institute of Corporate Governance (PICG). He has been associated with EFU General Insurance Limited since 1979 and has been Managing Director & Chief Executive of the Company from 2011. Some of his other professional roles have included Chairmanships with the Pakistan Insurance Institute and the Insurance Association of Pakistan, Director of the Institute of Financial Markets of Pakistan, and Executive Committee Member of Federation of Pakistan Chambers of Commerce and Industry.

Click here to view full interview >
Hasanali Abdullah
Managing Director & Chief
Executive
EFU General Insurance Limited
BREAKING NEWS
EU insurance regulator calls for harmonized plan for failing firms
July 5, 2017
The EU’s insurance regulatory agency is calling for a unified approach to deal with failing insurers, criticizing the current patchwork approach spread across its member states.
Chinese insurance giants likely winners under tighter regulatory environment
June 26, 2017
Stricter regulation of insurance in China is expected to benefit insurers in the long term, as bad practices are weeded out, and firms adjust to new market conditions.
China’s Zhong An aims to raise at least $1 billion in Hong Kong IPO
May 31, 2017
The first exclusively online insurer in China, Zhong An Property and Casualty Insurance, expects to raise in excess of $1 billion in its upcoming Hong Kong IPO.
Insurance premium growth to outpace GDP in Africa, but regulation & lack of talent a concern
May 25, 2017
Despite low insurance penetration rates, insurance premiums have grown robustly in Africa. However, challenges remain in the form of regulations and industry inexperience.
Acko is an ambitious digital play to disrupt India’s $10B insurance industry
May 24, 2017
Acko, a digital insurance startup, has made waves in the Indian insurance industry by providing a new model for accessing customers and providing tailored products.
China Life Acquires U.S. Real Estate Portfolio for $950 Million
May 24, 2017
Hong Kong insurer China Life Insurance has invested nearly one billion USD in real estate projects in the United States, reflecting an ongoing trend from insurance companies in China following the lifting of a government ban five years ago.
WannaCry Attack Could Be Opportunity for Cautious Insurance Industry: A.M. Best
May 23, 2017
Last month’s WannaCry cyber attack could help insurers craft better policies that protect policyholders, according to a report issued by the ratings agency A.M. Best.
Insurtech: Will U.S. Regulation Hamper Growth?
May 15, 2017
The growing field of insurtech may face regulatory challenges as it becomes more pervasive in the United States.
Reinsurance Slump Threatens London As Global Industry Hub
May 9, 2017
In the wake of Brexit and falling reinsurance premiums, London has lost ground to Asia as a global center for the insurance industry.
POLICY AND REGULATION UPDATE
Hong Kong and China insurance regulatory bodies team up
July 4, 2017
Insurance regulators in Mainland China and Hong Kong signed an equivalence agreement, which strives to harmonize differing regulatory standards in their respective jurisdictions.
IFRS 17 set to usher in ‘wave of unprecedented change’ to insurance industry
May 18, 2017
New accounting standards issued by the International Accounting Standards Board (IASB) have enormous implications for the global insurance industry on a range of issues.
CIRC bans universal life products as add-on to life policies
May 16, 2017
The China Insurance Regulatory Commission (CIRC) has banned insurers offering life insurance to sell universal life insurance as an add-on supplementing regular policies.

If you have any questions or comments, please contact Nate Schneider on +86 21 5580 0330 x. 8180 or nate.schneider@duxes.cn.

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