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Allianz Asia delivers strong first half

Singapore GERMAN insurer Allianz Asia has achieved strong first-half financial growth performance on the back of its regional franchise and diversified portfolio. The insurer on Thursday reported that operating profit for the first six months of the year rose 12 per cent year-on-year to 150 million euros (S$240.8 million). Total revenue jumped 40 per cent to 2.9 billion euros and net income was up 3 per cent at 109 million euros. Annualised...


Japanese insurer to take shopping to another level?

TAKING a leaf from its own book, Tokyo-based Sony Life Insurance is replicating in Singapore a distribution model that works in Japan - untested here - but which is likely to further accelerate Singapore's life insurance industry's shift to sell through the financial advisory (FA) channel. Sony Life Singapore, affiliated with Sony Financial Holdings, plans to open more than 40 shops "mostly in major shopping malls" over 10 years. Explaining this...


Banks hold up STI amid N Korea tensions

A LARGE push on the banks helped the Straits Times Index record a rise of 5.16 points to 3,323.24 in a day when the broad market registered 314 falls against 168 rises, weakness brought on by worries over North Korean tensions. Turnover soared to three billion units worth S$1.8 billion, also helped by elevated trading of the banks. In total, trading in the three lenders was worth S$325.4 million, or almost 20 per cent of...


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