BRIEFING - ASIA INSURANCE - SEPT 8, 2009

An executive briefing on insurance for Sept 8, 2009, prepared by Asia Pulse (http://www.asiapulse.com), the real-time, Asia-based wire with exclusive news, commercial intelligence and business opportunities.

CHINA INSURANCE REG OPENS 3RD EQUITIES M'MENT DRAFT TO PUBLIC

BEIJING - The China Insurance Regulatory Commission unveiled on Monday its third draft of Administrative Regulations on Equities in Insurance Companies, which will be open to public opinion until September 18.

In August of 2007 and March of 2008, the insurance regulator opened up its first and second drafts to public opinion. Compared to the second draft, the third has set stricter rules on changing insurance companies' shareholders.

AUSTRALIA'S SUNCORP TO RAISE US$641 MLN IN GOVT-GUARANTEED BOND ISSUE

MELBOURNE - Australian insurer Suncorp Metway Ltd (ASX:SUN) is seeking to raise at least A$750 million (US$641.4 million) through a government-guaranteed issue of four-year floating rate notes to domestic and offshore institutions as part of its 2009/10 term funding program.

Joint lead manager RBC Capital Markets said the transaction will be a minimum of A$750 million, with the notes reaching maturity on September 11, 2013 and priced at between 38 and 39 basis points over the three month AUD bank bill swap rate.

JAPAN CO DAI-ICHI FRONTIER LIFE TO GET US$215 MLN CAPITAL BOOST

TOKYO - Dai-ichi Mutual Life Insurance Co. and Sompo Japan Insurance Inc. (TSE:8755) said Monday they will invest an additional 20 billion yen (US$215.08 million) combined in Dai-ichi Frontier Life Insurance Co., a unit of Dai-ichi Life.

With Dai-ichi Frontier's annuity sales showing stable growth, Dai-ichi Life and Sompo Japan believe the firm will benefit from a capital increase. The additional funding will boost the firm's capitalization to 185 billion yen .

PHILIPPINES SUN LIFE MUTUAL FUND ASSETS NOW AT US$275 MLN

MANILA - Sun Life Management Asset Corporation Inc. (SLAMC), the mutual life arm of Sun Life Philippines, reported that assets under its management (AUM) has grown up by some P13.4 billion (US$275 million) for the first six months of the year.

"This is definitely a welcome improvement after experiencing a year of difficulties brought about by the global financial crunch. We have seen an upward trend so far in the first six months of 2009 and we are hoping this will continue until the yearend and beyond," Sun Life president Rizalina Mantaring said.