Axa to merge its life and general insurance units in Singapore
Insurance giant Axa is set to merge its life and general insurance businesses in Singapore.
Insurance giant Axa is set to merge its life and general insurance businesses in Singapore.
Thai equities have mostly recovered after plunging in the wake of the death of the King, but now the military-appointed government is attempting to navigate official approval of a new constitution and handle the first royal succession in seven decades.
The Common Reporting System — a partnership among around 100 regulators worldwide – will make it more difficult for Asian high net worth individuals to keep undisclosed money offshore, said Richard Corrigan, interim director of financial services for the Jersey Government.
China’s consumption story is expanding quickly, creating some of the most appealing investment cases currently available to investors, particularly as markets are yet to fully price in the pace of urbanisation in the country, says UBP’s Peng Yao.
China Life, the country’s largest insurer by market cap, has issued a profit warning after it forecast a 60% drop in net profit due to a decrease in investment income for the nine months to 30 September 2016.
Emerging market debt and Asian equities, in particular Hong Kong stocks, still offer yield at acceptable valuations, according to JP Morgan Asset Management’s latest quarterly outlook.
Farringdon Asset Management, part of the Malaysia-based Farringdon Group, has received a licence to operate in Singapore where it will focus on focus on providing expat clients with discretionary portfolio management services.
Vanguard has followed BMO Global Asset Management in cutting costs associated with its Hong Kong-listed ETFs with the aim of attracting more capital.
Representatives from Europe and Asia Pacific’s regulatory bodies met in Singapore on Friday to hold “in depth, closed-door” discussions on financial regulation and collaboration.
Led by China, Asia created one billionaire nearly every three days and accounted for over half of new billionaires in 2015 despite global billionaire wealth declining last year by $300bn to $5.1trn (£4.2trn, €4.6trn), according to a joint UBS Group and PwC report.
Hong Kong investors on average are seeking an investment income of 8.9% per year when the average stock market yield across key global indices is 3.8%, according to a study by Schroders.
The Monetary Authority of Singapore (MAS) has ordered that Falcon Private Bank in Singapore be shut down for serious failures in anti-money laundering (AML) controls and improper conduct by senior management at the Singapore branch, as well as the head office in Switzerland.