Insurers in Malaysia are all for a government initiative to promote private pension funds in the country but add that the plans needs skilled insurers and fund managers that hold long-term views for private pension schemes to be effective, reports The Star newspaper.
Other Asia News
2. Japan: US giants compete in Japan
Two US insurers -Prudential Financial and MetLife รข€“ are battling it out for business in Japan as
American International Group sells two Japanese life insurance units to Prudential Financial, while it completes a deal with MetLife for American Life Insurance (Alico).
3. India: Foreign parties cannot have majority share in insurers after listing. When insurance joint ventures in India go public, their promoters will have to bring down their stake in the companies to a proportion that allows the Indian promoters to hold a majority of the capital, reports the Financial Chronicle citing the head of the Insurance Regulatory and Development Authority (IRDA).
4. Australia: Flood cover expands Down UnderMore than half of the Australian market now has access to flood cover compared to the years before 2008 when there was little flood insurance available in the country, reports the Sydney Morning Herald citing the Insurance Council of Australia (ICA), which represents non-life insurers in the country.
5. Vietnam: Govt studying Thailand's health insurance systemVietnam is looking at developing its national health insurance system based on Thailand's successful model, reports the Bangkok-based The Nation newspaper.
Source: Asia Insurance Review 5/10/2010
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