Yuzuru Fujita, the head of the Life Insurance Association of Japan, said last week that the association will consider American International Group Inc.’s recent request to purchase Aoba Life Insurance Co..Mr. Fujita, speaking to reporters at a news conference, said he is not sure whether the life insurance industry will permit AIG to purchase the […]
Having bought out its local partner, Metropolitan Life Insurance Co. intends to boost investment in South Korea, trusting the economic recovery will spur business.New York-based MetLife plans to inject an additional 40 billion won ($27 million) over the next two years, said executive Vice President John H. Tweedie. MetLife, which ranked first among U.S. insurers […]
Asian governments’ steps toward budget tightening and ensuring greater domestic savings will prove a boon for the life insurance industry.Countries ranging from Thailand to Indonesia to South Korea are undertaking budget-tightening reforms, as well as moving to less dependence on state-backed social security. Such moves will place more responsibility on individuals to increase savings levels, […]