BRIEFING - ASIA INSURANCE - NOV 11, 2009

Nov 11, 2009 (AsiaPulse via COMTEX) --

An executive briefing on insurance for Nov 11, 2009, prepared by Asia Pulse (http://www.asiapulse.com), the real-time, Asia-based wire with exclusive news, commercial intelligence and business opportunities.

TAIWAN'S FIRST MICRO-INSURANCE POLICY ISSUED

TAIPEI - Cathay Life Insurance issued Taiwan's first micro-insurance policy Tuesday with the aim of providing accidental injury protection to economically disadvantaged people.

According to Cathay Life Insurance, some 1 million Taiwanese between 15 and 65 years of age in eight financially disadvantaged groups are eligible for coverage under the policy. They include single individuals with an annual income of less then NT$250,000 (US$7,765), low-income families, mentally and physically challenged people, fishermen and aboriginal tribes members who receive social welfare.

HOPU, BLACKSTONE, TEMASEK PLAN TO ACQUIRE TAIKANG LIFE'S 15.6 PCT STAKE

BEIJING - After the French global insurance group AXA Group announced it would sell its stake in Taikang Life Insurance, many investment institutions, including Hopu Fund, Blackstone, Temasek, Bain Capital, and Hony Capital, expressed their desires to compete in acquiring AXA's 15.6 percent stake in Taikang Life, valued at US$1 billion.

The market expects the deal's final price would be much higher in view of the fierce competition.

CHINA INSURER: NO PLAN FOR OVERSEAS ACQUISITIONS IN NEAR FUTURE

BEIJING - The People's Insurance Company Group of China (PICC) has no overseas acquisition plan in the near future, said Wu Yan, the insurer's board chairman on Monday.

Wu said that the domestic market has great potential, and the PICC has begun to step up in real estate investments and trust sectors, which can help the PICC to divert risks and enhance profitability.