PEOPLE MOVES: Sanlam, BNP Paribas AM, Stonehage Fleming
RL360 parent hires corporate integration specialist as its awaits Friends Provident Int’l deal completion
AIA
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Six Singapore advisers banned for mis-selling
Former Prudential, AIA and Citibank employees have been prohibited from providing financial advice services in Singapore, after they were found to have mis-sold investment products.
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PEOPLE MOVES: WHIreland Int’l Wealth, AIA and HANetf
WHIreland hires a PWC partner as non-executive chairman, AIA Singapore announces its next chief technology adviser while HANetf appoints a former Blackfriars employee as director of operations.
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Singapore clamps down on adviser recruitment incentives
In an attempt to curb mis-selling and adviser mass-migration, guidelines on the use of sign-on incentives in the recruitment of financial advisers have been rolled out by the Life Insurance Association of Singapore (LIA).
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Life companies among most valuable insurance brands
Axa, Metlife and Zurich have taken some of the top spots among the 100 most valuable insurance brands of 2018, but China is the most dominant country with its companies taking four of the top 10 slots.
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Adviser recruitment under scrutiny in Singapore
In a bid to curb mis-selling and provide a framework for how advisory businesses can recruit from rival firms, Singapore’s Life Insurance Association (LIA) is reviewing its policies and is planning to issue new guidelines.
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AIA pays $2.4bn for Aussie and New Zealand life insurers
The Commonwealth Bank of Australia has sold its life insurance businesses in Australia and New Zealand to AIA Group for A$3bn (£1.8bn, $2.4bn, €2bn).
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Foreign insurers forced to meet Malaysian 70% ownership cap
Insurance companies in Malaysia are looking to sell just under a third of their local businesses to comply with a 70% cap on foreign ownership.
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Raid on rival boosts new AIA advice arm
Singapore’s newly minted AIA Financial Advisers is on a recruitment spree and has reportedly made an offer of around S$100m (£56.5m, $74.5m, €62m) to lure across more than 300 people from Great Eastern’s Advisors Alliance Group.
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Vietnam rolling out welcome mat for int’l life companies
The Vietnamese Government is planning to make it easier for international life insurance companies to operate in the local market, deputy prime minister Dinh Hue Vuong has said.
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Capital Group partners with AIA Hong Kong in ILAS push
Fund manager Capital Group is teaming up with AIA Hong Kong to introduce long-term investment solutions through the AIA investment linked assurance scheme (Ilas).
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Former Pru and AIA man Tucker lands top HSBC job
Former Prudential group chief executive Mark Tucker is to succeed Douglas Flint as the next chairman of HSBC after a long-running search to fill the role.