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Etiqa Insurance Pte. Ltd. was officially launched in August of 2014, selling its life insurance products at Maybank branches across Singapore. [ 6 ] In 2015, Maybank began acquiring shares in AsianLife and General Assurance Corp. (ALGA), an insurance group based in the Philippines which had been operational since 1958. [ 7 ]
Like accident insurance, disability insurance pays the insured directly if they are injured in a way covered by the policy. However, disability insurance only pays if the injury prevents the insured from working. [3] Accident insurance benefits are paid whether or not the insured misses work as a result of the accident.
Casualty insurance is a defined term [1] which broadly encompasses insurance not directly concerned with life insurance, health insurance, or property insurance. Casualty insurance is mainly liability coverage of an individual or organization for negligent acts or omissions. [ 2 ]
The company entered into an agreement to sell its 25.9% stake in Singlife, as well as two debt instruments, to Sumitomo Life Insurance Company for a total cash consideration of SGD1.4 billion (£0.8 billion). The sale is expected to complete in Q4 2023, subject to customary closing conditions and regulatory approvals.
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DirectAsia was founded in Singapore in 2010 and launched in Hong Kong in 2012 and in Thailand in 2013. [3] [4] During 2013, DirectAsia had gross written premiums of $25.3 million. [5] In 2014, DirectAsia was acquired by Hiscox Insurance to commit further to serving customers in Asia. Hiscox has reached a $55 million agreement with Whittington ...
Great Eastern Life Assurance Co. Ltd, often known as Great Eastern Life or simply Great Eastern, is a Singaporean multinational insurance company and subsidiary of OCBC Bank operating in the Southeast Asia region. Founded in 1908 by Alfred Hewton Fair, it is the largest and oldest life insurance company in Singapore and Malaysia.
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