6 Insurance Directory of Asia 2013 10 Foreword 12 Preface & Users’ Guide 21 Australia General Country Information, Supervisory Authority, Associations, Educational and Insurance Institutions, Companies 43 Bangladesh General Country Information, Supervisory Authority, Association, Educational and Insurance Institution, Companies 59 Brunei Darussalam General Country Information, Supervisory Authority, Association, Companies 67 Cambodia General Country Information, Supervisory Authority, Association, Companies 73 China General Country Information, Supervisory Authority, Associations, Educational and Insurance Institution, Companies 105 Fiji General Country Information, Supervisory Authority, Educational and Insurance Institution, Companies 111 Guam General Country Information, Supervisory Authority, Companies 117 Hong Kong General Country Information, Supervisory Authority, Associations, Educational and Insurance Institution, Companies 147 India General Country Information, Supervisory Authority, Associations, Educational and Insurance Institutions, Companies 169 Indonesia General Country Information, Supervisory Authority, Associations, Educational and Insurance Institutions, Companies 211 Japan General Country Information, Supervisory Authority, Associations, Educational and Insurance Institutions, Companies 235 Korea General Country Information, Supervisory Authority, Associations, Educational and Insurance Institution, Companies 249 Laos General Country Information, Supervisory Authority, Companies 255 Macau General Country Information, Supervisory Authority, Associations, Educational and Insurance Institution, Companies CONTENTS
This document is posted to help you gain knowledge. Please leave a comment to let me know what you think about it! Share it to your friends and learn new things together.
Transcript
6 Insurance Directory of Asia 2013
10 Foreword
12 Preface & Users’ Guide
21 Australia General Country Information, Supervisory Authority, Associations, Educational
and Insurance Institutions, Companies
43 Bangladesh General Country Information, Supervisory Authority, Association, Educational
and Insurance Institution, Companies
59 Brunei Darussalam General Country Information, Supervisory Authority, Association, Companies
67 Cambodia General Country Information, Supervisory Authority, Association, Companies
73 China General Country Information, Supervisory Authority, Associations, Educational
and Insurance Institution, Companies
105 Fiji General Country Information, Supervisory Authority, Educational and Insurance
Institution, Companies
111 Guam General Country Information, Supervisory Authority, Companies
117 Hong Kong General Country Information, Supervisory Authority, Associations, Educational
and Insurance Institution, Companies
147 India General Country Information, Supervisory Authority, Associations, Educational
and Insurance Institutions, Companies
169 Indonesia General Country Information, Supervisory Authority, Associations, Educational
and Insurance Institutions, Companies
211 Japan General Country Information, Supervisory Authority, Associations, Educational
and Insurance Institutions, Companies
235 Korea General Country Information, Supervisory Authority, Associations, Educational
and Insurance Institution, Companies
249 Laos General Country Information, Supervisory Authority, Companies
255 Macau General Country Information, Supervisory Authority, Associations, Educational
and Insurance Institution, Companies
CONTENTS
IDA13.indb 6 7/10/2012 12:11:43 PM
8 Insurance Directory of Asia 2013
CONTENTS
263 Malaysia General Country Information, Supervisory Authorities, Associations, Educational
and Insurance Institutions, Companies
299 Myanmar General Country Information, Companies
303 Nepal General Country Information, Supervisory Authority, Association, Companies
315 New Zealand General Country Information, Associations, Educational and Insurance Institution,
Companies
327 Pakistan General Country Information, Supervisory Authority, Association, Educational
and Insurance Institution, Companies
339 Papua New Guinea General Country Information, Supervisory Authority, Companies
345 Philippines General Country Information, Supervisory Authority, Associations, Educational
and Insurance Institution, Companies
385 Singapore General Country Information, Supervisory Authority, Associations, Educational
and Insurance Institutions, Companies
421 Sri Lanka General Country Information, Supervisory Authority, Association, Educational
and Insurance Institution, Companies
431 Taiwan General Country Information, Supervisory Authority, Associations, Educational
and Insurance Institution, Companies
451 Thailand General Country Information, Supervisory Authority, Associations, Educational
and Insurance Institution, Companies
485 Timor–Leste General Country Information, Supervisory Authority, Association, Companies
489 Vietnam General Country Information, Supervisory Authority, Association, Companies
501 Service Providers
509 List of Advertisers
510 Index
IDA13.indb 8 7/10/2012 12:11:43 PM
Sponsored by:
China
IDA13.indb 73 7/10/2012 12:11:52 PM
IDA13.indb 74 7/10/2012 12:11:52 PM
75Insurance Directory of Asia 2013
General InformationLand Area 9,569,901 sq km.Climate Extremely diverse; tropical in south to subarctic in north.Capital Beijing.Form of Government Communist state.Chief of State President HU Jintao.Head of Government Premier WEN Jiabao.Population (July 2012 est) 1,343,239,923.Population Growth Rate (2012 est) 0.481%.Ethnic Composition (2000 census) Han Chinese 91.5%, Zhuang, Manchu, Hui, Miao, Uyghur, Tujia, Yi, Mongol, Tibetan, Buyi, Dong, Yao, Korean, and other nationalities 8.5%. Religious Affiliation (2002 est) Daoist (Taoist), Buddhist, Christian 3%-4%, Muslim 1%-2%.Birth Rate (2012 est) per 1,000 population 12.31 births.Death Rate (2012 est) per 1,000 population 7.17 deaths. Infant Mortality Rate (2012 est) per 1,000 live births 15.62 deaths.Life Expectancy at Birth (2012 est) Male 72.82 years; Female 77.11 years.
EconomyMonetary Unit RMB1 (Renminbi) = 10 jiao = 100 fen. Exchange Rate (10 July 2012) US$1 = RMB6.36824 (Renminbi).GDP purchasing power parity (2011 est) US$11.29 trillion.GDP per capita (2011 est) US$8,400.
TransportRailroads (2009) Length 86,000 km.Highways (2009) Total length 3,860,800 km.Airports with paved runways (2010) 442.Airports with unpaved runways (2010) 60.
EducationEducational Attainment (2007) Age 15 and over can read and write: Total population: 92.2%; Male: 96%; Female: 88.5%.
Market OutlookStandard & Poor’s Ratings Services revised the outlook on China’s non-life insurance industry to stable from positive in April 2012. The stable outlook reflects our expectation of a potential economic slowdown and the deregulation of premium rates for motor insurance in 2012. Further, insurers’ claims are likely to rise significantly over the next two years. That’s because, under revised regulatory guidelines, insurers now need to pay upfront for third-party claims before seeking recovery from insurance companies responsible for claims related to damaged cars. This practice is in line with international practices. We expect these factors to offset insurers’ generally improved financial profiles over the past three years. The improvement was a combined result of key companies’ higher focus on profitability rather than market share, and their enhanced risk-management and solvency provisions in line with regulatory requirements. However, capital markets remain tight, reflecting the continued – albeit slower – economic slowdown and industry expansion. The non-life insurance industry in China remains competitive, with high market-share concentration at several leading insurance companies. Although the regulator intends to de-tariff the market, companies that are allowed to free float their rates still have profit considerations. As a result, we expect the potentially massive fall in premium rates to be limited, and don’t expect overall industry performance to deteriorate significantly or relive the heavy pricing wars of past years. However, some new starters or smaller companies that have weak market positions may suffer from underwriting losses due to the absence of economies of scale. Other key challenges for the non-life insurance industry
include insurers’ increasing risk profiles resulting from unexpected natural disasters and other emerging exposure, together with relatively high information risks. The negative outlook on China’s life insurance sector, revised from stable in July 2012, reflects the market’s weakening capitalization and projected lower growth in the next one-to-two years. Its weakening capitalization reflects the life insurers’ rapid expansion and the volatile capital market in recent years. Given life insurers’ reduced solvency margins and uncertainty in the development of the capital market, we expect capitalization levels to be less than adequate if China’s economy endures a hard landing. In our view, a product shift to higher-margin regular premium products from lower-margin single premium products could enhance the profitability of the life insurers in the long run, although the insurers would need to suffer lower premium growth in the short term. We expect China’s favorable economy and lower insurance penetration would support the long-term growth of the industry. Ongoing regulatory initiatives have had a significant impact on the Chinese insurance industry. They are addressing solvency and risk-management issues, and providing guidance on best practices. We regard these regulatory initiatives as positive for the market. But heavy regulations – such as some prescriptive requirements in reserving and pricing – may deter companies from some operations. Factors that have contributed to higher industry risk in China than in other regional markets include insurers’ less-developed risk-management framework and low capitalization as a result of past rapid growth. Although the regulator has tightened insurers’ risk-control requirements, most companies
Tokio Marine & Nichido Fire Insurance Co. (China) Ltd
A Stable cnAA+
Life Insurers
China Life Insurance Co. Ltd AA- Stable cnAAAAbove ratings are current as of June 29 2012. Please note that ratings may change at any time and refer to the most updated
rating on our website: www.standardandpoors.com. For ratings definitions, please refer to page 14.
Information relating to Standard & Poor’s Ratings must be read in conjunction with the disclaimer on page 18.
still have unsupported historical data and low sophistication in risk-management. Additionally, high operating risks within large insurers can be an issue even after regulatory controls and internal development. Rapid industry expansion will challenge companies that have weak financial profiles and lower risk controls. The top insurers may
also face capital pressure during their robust growth. But, in our opinion, the companies have sufficient financial flexibility to prevail, given their dominant access to the local capital market. The majority of the top insurers already have regulatory approval to finance via issuing subordinated debt.
Analytical Contact: Commercial Contact:Connie Wong Hong Shan ChenManaging Director-Analytical Manager Client Business ManagementEmail: [email protected] Email: [email protected]: +65-6239 6353 Phone: +86-10-6569 2912
IDA13.indb 77 7/10/2012 12:11:52 PM
Insurance Directory of Asia 201378
China
Supervisory Authority
China Insurance Regulatory Commission (CIRC)
Business AddressNo. 15, Financial Street, Xicheng District, Beijing 100 140, China
Key PersonnelMr Wei Ying-Ning (President) Mr Wan Feng (Vice President & Executive Director) Mr Wang Yin-Cheng (Vice President & Executive Director) Mr Li Ming-Guang (Secretary-General & Executive Director)
Executive DirectorsMr Ding Chang Mr Ding Peng Mr Wang De-Sheng Ms Li Xiu-Fang Mr Li Zheng-Huai Mr Yang Zhi-Cheng Mr Shen Cheng-Fang Mr Zhuo ZhiMs Lin Hong Mr Zheng Yun-Yu Mr Zhao Xia-QiangMr Gong Xing-FengMs Zhan Zhao-LanMr Wei Ying-Ning
Insurance Association of China
Business Address7th Floor, Xinmao Building, No. 15, Financial Street, Xicheng District, Beijing 100 140, China
Board of DirectorsMr Jin Jian-Qiang (President) Mr Wang Zhi-Chao (Secretary-General) Mr Wang Yin-Cheng (Vice President) Mr Wan Feng (Vice President) Mr Lin Fan (Vice President) Mr Wang Yi (Vice President) Mr Ren Hui-Chuan (Vice President) Mr Jin Wen-Hong (Vice President) Mr Zhang Wei-Gong (Vice President) Mr Chen Don-Sheng (Vice President)
Educational and Insurance Institution
Insurance Institute of China
Business Address7th Floor, Xinmao Building, North Tower, No. 15, Financial Street, Beijing 100 033, China
Chairman & Chief Executive Officer: Dr Peter Ma Mingzhe
Senior ManagementMr Alex Ren Huichuan (President) Mr Sun Jianyi (Executive Vice President & Vice Chief Executive Officer) Ms Wang Liping (Senior Vice President) Mr Jason Yao Bo (Senior Vice President & Chief Financial Officer) Mr Ku Man (Senior Vice President) Mr Lee Yuansiong (Senior Vice President & Chief Insurance Business Officer) Mr Cao Shifan (Senior Vice President) Mr Lo Sai Lai (Senior Vice President & Chief Information Officer) Mr Chen Kexiang (Senior Vice President) Ms Ip So Lan (Senior Vice President & Chief Internal Auditor) Mr Gregory D Gibb (Senior Vice President & Chief Innovation Officer) Mr Jin Shaoliang (Secretary of the Board & Investor Relations Officer) Mr Cheung Chun Tong (Chief Actuarial Officer)
Share Capital (at 31 Dec 2010)Total Equity RMB116,880,000,000
Financial Year End: December Financial Indicators in RMB’000 Year 2010 Total Assets 1,171,630,000
General Companies
Aioi Nissay Dowa Insurance (China) Company Limited
Business AddressUnit 1601, No. 2 Dagu North Road, Tianjing Financial Tower, Heping District, Tianjing 300 005, China
Senior ManagementMr Klaus Voeste (Chief Executive Officer) Mr Wise Liang (Director, Underwriting) Mr Grant Zhu (Director, Finance & Accounting) Mr David Ye (Director, Customer Service & Claim Service) Ms Eileen Qiu (Director, Human Resource) Mr Muhammad Ibrahim (Director, Information Technology) Mr Oliver Klug (Risk Management Manager) Mr Bill Song (Project Manager)
Head OfficeAllianz SEKöniginstraße 28, D-80802 München, Germany
Classes WrittenNon-Life Reinsurance, Life Reinsurance, Health Reinsurance
Chairman of China Advisory Board: Mdm Wang Zhen
Senior ManagementMr Steven Chang (Chief Executive) Mr Steve Zhang (Managing Director, Life Reinsurance - China) Mr William Bossany (General Manager, Munich Health) Mr Chang Ling Lee (Chief Financial Officer) Ms Judy Cheng (Chief Compliance Officer) Ms Veronika Xue (Head of Human Resource & General Admin)
Head OfficeMünchener Rückversicherungs-GesellschaftKöniginstrasse 107, D 80791 München, Germany
Classes WrittenPersonal Accident, Global Health, TravelGuard, General Liability, Auto, Personal Property, Extended Warranty, Directors & Officers, Professional Liability, Fidelity/Crime, Energy, Marine, Aviation, Property, Fire, Terrorism, Trade Credit, Surety, Multi-line packages for emerging enterprises
Substantial ShareholdersChartis Overseas Limited, Bermuda - a member company of American International Group
Senior ManagementMr Michael Raines (President & Chief Executive Officer) Ms Salina Lai (Senior Vice President & Comptroller) Mr Terence Anderson (Senior Vice President, Commercial Insurances) Mr Paul Wong (Head of Accident & Health) Ms Anna Chan (Head of Personal Lines) Mr Ricky Kan (Head of Agency Distribution) Mr Des Walsh (Head of Claims Services)
Head OfficeChartis Inc175 Water Street, New York, NY 10038, United States of America
Top Five Classes Written in HK$’000 (at 2011)Classes Gross % of ownWritten Prem Total PremMotor 324,949 81.38Public Liability 26,913 6.74Property All Risk 22,019 5.51Employees' Compensation 6,644 1.66Marine Cargo 6,361 1.59
Substantial ShareholdersChina Pacific Insurance Group Company Limited (100%)
Chairman: Mr Wu Zong Min
Senior ManagementMr Wang Biao (Chief Executive Officer) Mr Zhao Yang (Deputy General Manager)
Share Capital (at 31 Dec 2011)Authorised Capital HK$250,000,000Paid-up Capital HK$250,000,000
Financial Year End: December Financial Indicators in HK$’000 Year 2009 2010 2011Gross Premium 222,039 280,102 399,277Net Premium 188,058 241,235 353,966Underwriting Profit 19,353 11,177 31,568Technical Reserves 134,505 162,111 222,320Profit before tax 35,020 34,707 53,266Total Assets 561,069 738,571 876,033Investment Income 21,299 28,575 28,525
China Ping An Insurance (HK) Co, Ltd
Business Address17th Floor, Allied Kajima Building, 138 Gloucester Road, Wanchai, Hong Kong
Substantial ShareholdersChina Taiping Insurance Holdings Company
Chairman: Mr Meng Zhao Yi
Senior ManagementMr Liu Shi Hong (Chief Executive Officer) Mr Chan Pui Leung (General Manager) Mr Li Xiao Ming (Deputy General Manager) Mr Sze Nan Fan (Deputy General Manager) Mr Yiu Kwok (Deputy General Manager) Mr Cheng Kan Fai (Deputy General Manager) Ms Ho Kwok Ching (Chief Financial Officer) Mr Dong Sheng Xu (Asst General Manager)
Share Capital (at 31 Dec 2011)Authorised Capital HK$3,000,000,000Paid-up Capital HK$2,586,000,000
Chong Hing Insurance Company Limited
Business Address8/F, Western Harbour Centre, 181 Connaught Road West, Hong Kong
Top Five Classes Written in Rp’000’000 (at 2011)Classes Gross % of own Written Prem Total PremMotor Vehicle 506,696 42.55Fire 512,198 43.01Health 91,832 7.71Marine 62,143 5.22Miscellaneous 10,487 0.88
Substantial ShareholdersPT Anugrah Sukses Development (56%)PT Datakris Prima Indonesia (20%)
Senior ManagementMr Sujaya Dinata Pangestu (President Director) Mr Sandy Wijaya (Director, Marketing) Mr Nicolaus Prawiro (Director, Financial) Mr Johannes Gunawan (Deputy Director, Marketing) Mr Ivan Sanjaya (Deputy Director, Technical) Mrs Djong Mie Ai (Deputy Director, Finance)
Share Capital (at 31 Dec 2011)Authorised Capital Rp120,000,000,000Paid-up Capital Rp100,000,000,000
Financial Year End: December Financial Indicators in Rp ’000’000 Year 2009 2010 2011Gross Premium 640,714 888,398 1,190,913Net Premium 310,970 433,401 527,749Underwriting Profit 125,974 199,374 226,284Technical Reserves 265,040 304,116 362,053Profit before tax 88,345 148,759 155,02Total Assets 536,270 776,564 1,089,483Investment Income 30,261 37,873 40,081
Regional OfficePT Asuransi Jaya Proteksi Operational Head OfficeJl Mangga Dua Raya, Komplek Grand Boutique Center Blok E/2-4, Jakarta 14430, Indonesia
Top Five Classes Written in RM’000 (at 2011)Classes Gross % of own Written Prem Total PremMotor 33,853 24 Fire 23,770 17 CAR/Engineering 16,562 12 Bonds 3,195 2 Others 63,647 45
* Ms Kathleen Chan is in-charge of all the above classes.
Substantial ShareholdersState Government of Sabah (87.1%)
Chairman: Datuk Datu Harun bin Datu Mansor, JP
Senior ManagementMr Francis Lai (Chief Executive Officer) Ms Kan Poh Yee (Asst General Manager, Accounts & Finance/Company Secretary) Tuan Hj Johari Nordin (Asst General Manager, Claims/Risk Management) Ms Kathleen Chan (Asst General Manager, Technical) Ms Elaine Lee (Senior Manager, Management Information Systems) Mr Ng Sing Cheong (Senior Manager, Operations) Mr Yong Moh Peng (Senior Manager/Technical Advisor) En Jaimin Kamin (Senior Manager, Human Resource & Admin/Company Secretary) Ms Jessica Thong (Senior Manager, Kuala Lumpur Operations) Ms Lum Sau Mei (Senior Manager, Hospital & Surgical) Mr Ng Chee Hong (Asst Manager, Internal Audit) Tuan Haji Mohd Dahlan Mustaffa (Senior Manager, Northern Region) Mr Benedict Majin (Senior Manager, Sabah Operations) Mr Joseph Lee (Branch Manager, Johor Bahru) Mr Terence Kan (Branch Manager, Melaka) Mr Tan Wee Giee (Branch Manager, Kuching) Mr Denes Sanghan (Asst Manager, Sandakan)
Share Capital (at 31 Dec 2011)Authorised Capital RM100,000,000Paid-up Capital RM100,000,000Shareholders Fund RM172,216,607
Financial Year End: December Financial Indicators in RM’000 Year 2009 2010 2011Gross Premium 125,276 127,501 141,027Net Premium 60,940 64,566 69,393Underwriting Profit (2,968) 1,867 (8,790)*Technical Reserves 86,275 94,551 111,798Profit before tax 21,100 18,933 11,029Total Assets 324,164 447,429 469,981Investment Income 24,681 17,727 18,156
* MMIP net loss RM12.55 million
QBE Insurance (Malaysia) Berhad
Business AddressNo. 638 Level 6, Block B1 Pusat Dagang Setia Jaya, (Leisure Commerce Square) No. 9 Jalan PJS 8/9, 46150 Petaling Jaya, Selangor Darul Ehsan, Malaysia
Chairman: YBhg Dato' Nik Mohamed Din bin Datuk Nik Yusoff
Senior ManagementMr Karl Ludwig Anthony Hamann (Chief Executive Officer) Mr Kok Yew Kong (Company Secretary & Asst General Manager, Finance & Information Technology)Mr William Foo (Asst General Manager, Marketing & Operations)Mr Phuan Boon Heng (Head, Underwriting & Claims)
RHB Insurance Berhad
Business AddressLevel 8, Tower One, RHB Centre, Jln Tun Razak, 50400 Kuala Lumpur, Malaysia