YF Life’s Post

Bredec Group Marsh taps into digital trading platform to advance digitisation strategy in London market - Insurance Times: Marsh taps into digital trading platform to advance digitisation strategy in London market  Insurance Times Inquiry@bredec.com

#Switzerland - Insurance intermediaries: mandatory follow-up documentation to be submitted to FINMA by the end of June 2024 The revised Swiss Insurance Supervision Act (#ISA) and the revised Swiss Insurance Supervision Ordinance (#ISO) entered into force on 1 January 2024. To ensure better client protection, the requirements governing insurance intermediaries were enhanced. Insurance intermediaries must submit follow-up documentation to the #Swiss Financial Market Supervisory Authority #FINMA by the end of June 2024. FINMA has set out the necessary steps for #InsuranceIntermediaries in a guidance document. FINMA is publishing guidance to draw the attention of #insurance intermediaries to the deadline for submitting the mandatory #FollowUpDocumentation by 30 June 2024 at the latest. Insurance intermediaries who submit their follow-up documentation by then may continue to operate as insurance intermediaries until FINMA decides whether they meet the #registration requirements. Failure to submit an application for follow-up documentation will result in deletion from the register. In its guidance, FINMA also sets out the steps that registered #UntiedInsuranceIntermediaries must take to submit the follow-up documentation application. In addition, FINMA is providing information on the current number of applications for follow-up documentation that have already been received and approved by FINMA. MLL Legal

【Are virtual insurance companies reliable?】 Full Article: https://lnkd.in/gA2PSUHq I recently shared four concerns raised by the Insurance Authority regarding the takeover of Tahoe Life Insurance, one of which is the stability of virtual insurance companies. Currently, Hong Kong has five virtual insurance companies, the longest-established having been in operation for only six years. Recently, rumours have emerged about one of the companies planning to sell its business, underscoring the potential risks of insuring with virtual insurers. With this concern, I will explain in detail in my column in the Hong Kong Economic Journal! #HongKongEconomicJournal #HKEJ #AssetInheritance #WealthManagement #AssetManagement #FinancialPlanning #InvestmentStrategy #RiskManagement #FinancialFreedom #insurance #finance #WealthManagementManager #AIA #AIAHK #WaveChow #InsuranceAuthority #VirtualInsurance

China Ping An Insurance subsidiary has failed to repay $107 million in trust product Funing 516 Trust Plan due to China property market crisis.  Ping An Insurance has sued China developer Zhenro Properties to recover the funds.  Funing 516 Trust Plan was launched in 2021 September & the maturity date is 29th March 2024. Read - https://lnkd.in/g_BU2i4y follow Caproasia | Driving the future of Asia China Ping An Insurance subsidiary has failed to repay $107 million in trust product Funing 516 Trust Plan due to China property market crisis.  Ping An Insurance has sued China developer Zhenro Properties to recover the funds.  Funing 516 Trust Plan was launched in 2021 September & the maturity date is 29th March 2024

🇦🇺Financial Lines insurance market in Australia: #Allianz “transitions” as #Markel and #Everest move in. Is competition heating up? #riskmanagement #financiallines #insurance https://lnkd.in/ddhcpXvP

I read a couple of months ago that a division of HSBC in Hong Kong wrote a life insurance policy with a $250,000,000 death benefit! Apparently it's a world record. After reading this interview and hearing how life and legacy planning are a key cog in their Wealth division, it's not surprising that they were able to write such a large case . #lifeinsurance #wealthplanning #wealthmanagement #highnetworth

We've counted up all the nominations, and today we reveal best and brightest captive owners from across the globe, as voted on by their peers in the captive industry See who made the class of 2024, and information about them here: https://lnkd.in/e6v6VtMc #captiveinsurance #insurance #riskmanagement #top20

Insurance Development Forum Releases Annual Report: 2023 In Review - Prevent, Protect, Provoke Michel Liès, Chair of the IDF Steering Committee, and Chair of Zurich Insurance, said: “This annual report serves as a testament to the power of collaboration within the IDF network. 2023 witnessed significant progress across all three pillars – implementation, engagement, and advocacy – fuelled by the trust and dedication of our partners. The year was an unprecedented moment of global recognition of the potential for the insurance industry’s collaborative role in the global development, resilience and disaster risk financing agenda. Through our public and private sector partners, the Insurance Development Forum is catalysing for a faster pace of change, focusing on in-country implementation that can be replicated and scaled. 📈 https://lnkd.in/eGdZuPsp #fintech #finance #banking #paytech #payments #fintechnews #paymentsnews

More exciting things to come from this fast-growing, dynamic business focused on meeting the underserved needs of today’s societies and the next generations… #hsbclife #healthiswealth #wealthishealth

Strengthening Consumer Protection in Rural Banks: Integrating Life Insurance as a Risk Mitigation Tool In the ever-evolving landscape of rural banking, it is crucial that we remain proactive in safeguarding both our consumers and our institutions. Life insurance stands as a powerful tool that can help us mitigate financial impacts arising from unexpected events such as death, accidents, or illness. Let’s take the time to explore the potential of life insurance in our rural banks. Together, we can enhance the protection of every Filipino! #RuralBanking #ConsumerProtection #LifeInsurance #RiskManagement #FinancialStability #CustomerService By focusing on these steps, rural banks can not only improve their risk management strategies but also provide meaningful financial protection to their consumers. Let’s work together to ensure a safer and more secure financial future for everyone.