Allianz, AXA take big steps toward penetrating China

Article Abstract:

Allianz AG Holding has been given the go signal by the People's Bank of China to establish an insurance company in Shanghai. Munich, Germany-based Allianz will maintain a 50-50 joint venture with Chinese insurance company Dazhong. Allianz is the fourth international company to have an office in Shanghai. Meanwhile, Paris, France-based AXA-UAP, the second biggest life insurer in Hong Kong, has yet to partner with a Chinese insurance company and is still awaiting authorization from the People's Bank of China to set up operations in Shanghai.

Allianz Aktiengesellschaft Holding, Shanghai, China, AXA-UAP Group

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Familiarity doesn't always breed contentment

Article Abstract:

United Kingdom is one of the easiest foreign markets for insurers to enter because of its resemblance to the US market. UK also presents less competition than many. Emerging markets, meanwhile, offer special advantages by holding large, untouched capacity. However, potential regulation in emerging markets could affect foreign participation by barring foreign ownership or control of a domestic insurer among other possibilities, and regulation should be eyed carefully as it might be applied inconsistently.

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Underwriting factors key in overseas expansion

Article Abstract:

Insurance companies should examine a foreign insurance company's underwriting fundamentals before considering buying the company. Acquisition decisions should be based on the company's renewal-retention rate and loss ration. Domestic insurance companies should also consider the target company's management team and underwriting commitments to pools and associations.

Management, Acquisitions and mergers, Column

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