Morning Briefing: Zurich, Allianz pull back from Asian markets

Zurich, Allianz pull back from Asian markets… Insurance is unsung winner in movie industry… Canadian insurer teams with charity to inspire students…

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Zurich, Allianz pull back from Asian markets
Two global insurers are reported to be seeking buyers for business units in Asia. CNBC says that Zurich is looking to offload its Singapore and Hong Kong units as part of its review of non-core activities outside of its European base. As we previously reported the insurer is also said to be selling its general insurance divisions in South Africa and Morocco.

Meanwhile, Reuters says that Allianz is selling its South Korean life insurance business, according to sources. Potential buyers include Anbang Insurance Group and Fosun International.
Neither Zurich or Allianz have commented on the reports.
 
Insurance is unsung winner in movie industry
The Academy Awards takes place Sunday and one industry body is keen to highlight the important role that the insurance industry plays in the movie business. The Insurance Information Institute says that without insurance movies may not exist.

“Severe weather can delay a film’s production, as can either an illness or an injury to a star performer,” said Janet Ruiz, the I.I.I.’s California representative, “The people who finance and produce major motion pictures have always turned to the insurance industry to manage these risks.”

Among the coverage frequently arranged by movie producers are protection against illness or death of cast members, damage to film or video tape, damage and losses of props and sets, third-party property damage and delays from civil commotion.

“No one has ever nominated an actuary or a claims adjuster for an Academy Award,” said Ruiz. “Yet without them, the show would not go on.”
 
Canadian insurer teams with charity to inspire students
Economical Insurance has been announced as the gold sponsor of Brain Waves, an awareness day organized by the injury-prevention charity Parachute. The interactive, hands-on program teaches students about concussion awareness, along with brain and spinal cord education. The campaign is designed to educate school students in life-saving information that can be critical in childhood injuries.

"Too many Canadians are killed or disabled by preventable injuries every year," said Karen Gavan, Economical's president and CEO. "By building awareness of how to protect the most vital organ, our brain, we are able to focus on safety and injury prevention. We are pleased to support this important initiative that helps kids better understand how to protect themselves while having fun."

More than 30,000 children took part in Brain Waves in 2015.

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