first rule on pension insurance business, the Regulations on Pension
Insurance Business of Insurance Companies, will take effect as of
January 1, 2008, announced China Insurance Regulatory Commission
(CIRC) Monday. The new rule makes regulations on the operation activities
of pension insurance business in the aspects of operation entity,
management of pension insurance product and operation and enterprise
annuity management business.
wants all the players in the Association of Southeast Asian Nations
(Asean) insurance industry to increase their competitiveness as
a region in order to retain a greater share in the insurance business.
Negara Malaysia Deputy Governor, Datuk Mohd Razif Abdul Kadir said
there was a great potential for the Asean players to retain a greater
share of the insurance business particularly in reinsurance and
underwriting of large, specialised risk which traditionally flows
out of the region, he said.
Nams one-year membership of the World Trade Organisation (WTO)
was marked with the beyond-expectation growth by the fledgling insurance
industry, Viet Nam Insurance Association General Secretary Phung
Dac Loc said.
the sector registered a 31 percent increase, or five-year high,
in non-life premium revenue of almost 6 trillion VND in the first
nine months of 2007. Life premium revenues also recorded a three-year
high with a growth rate of over 10 percent.
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