Abu Dhabi-listed HAYAH Insurance has secured a licence from the Securities and Commodities Authority to provide comprehensive corporate pension management services.
Planning for retirement among Hong Kongers began on average at age 40 in 2024, compared to 45 in 2018, according to a survey by Schroders.
More than 60m people have opened private pension accounts since the introduction of China's private pension system in November 2022, data from the Ministry of Human Resources and Social Security showed.
The National Financial Regulatory Administration (NFRA) has released guidelines for promoting the development of inclusive insurance to better meet the needs of the people and the real economy.
Nine pension insurance companies in China posted a combined net loss of CNY414m ($57m) for the first quarter of this year, according to data from the companies' quarterly solvency reports. Among the nine, five were profitable during the period while four reported net losses.
2024 marks the fifth year of the establishment of the Dajia Insurance Group in June 2019 by the Chinese authorities to take over the operations of the now-defunct Anbang Insurance Group.
The combined fund size in Turkiye's Private Pension System (BES) and Automatic Pension Enrollment System (OKS) has crossed TRY1tn ($31bn) for the first time, according to a statement from the Insurance Association of Turkiye (TSB). The total number of subscribers has reached 16.39m.
The Association of Pension Trustees and Administrators of Kenya (APTAK) has called for mandatory pension savings for all citizens to ensure financial security and stability for individuals in their retirement years.
Insurers in China have begun to consider converting the coverage of existing life insurance policies to pension annuities, notes the mainland Chinese law firm Anjie Law.
Brussels-headquartered Ageas, Belgium's biggest insurer, has announced that it had reached an agreement with China Taiping Insurance Holdings (CTIH) to subscribe to the capital increase of the latter's wholly-controlled subsidiary Taiping Pension Co (TPP) for a total consideration of CNY1,075m ($151.3m).