TOP NEWS IN GLOBAL INSURANCE
– Taiwan-based Shin Kong Life Insurance Co. Ltd. and Taishin Life Insurance, both TS Financial Holding Co. Ltd. units, have completed their merger, effective Jan. 1. Taishin Life emerged as the surviving entity and was renamed to Shin Kong Life Insurance. Paul Wei became the chairman of Shin Kong Life Insurance following the merger, while Hung Shih-chi became vice chairman. Huang Min-yi was also appointed as president.
– Alignment Healthcare Inc. said its health plan membership grew 31% year over year to approximately 275,300 at Jan. 1 following a strong annual enrollment period. The California-based company expects its health plan membership to reach between 290,000 and 296,000 at year-end 2026, representing growth of approximately 24% to 27% relative to the mid-point of its year-end 2025 membership guidance. Alignment Healthcare also expects its consensus adjusted EBITDA to be approximately $145 million in 2026, which is within its full-year guidance range.
➤ BofA Securities ends 2025 atop insurance debt offerings league table
The investment bank had $3.31 billion in deal credit from 38 offerings to lead S&P Global Market Intelligence's insurance debt offering rankings.
➤ Goldman Sachs ends 2025 as top financial adviser for insurance underwriter M&A
The investment bank advised on seven deals in 2025, with the reported value totaling $17.56 billion.
➤ Jackson embraces, defies convention with new flow reinsurance structure
Annuity providers have typically contracted with offshore reinsurers for programs intended to facilitate production of new fixed and fixed indexed annuities, but Jackson is taking a new approach to achieving the same goal.
EARNINGS SPOTLIGHT
– Taiwan-based Fubon Financial Holding Co. Ltd. booked a cumulative consolidated pretax profit of NT$136.94 billion in 2025 and net profit of NT$120.85 billion. Profit was significantly impacted by Fubon Life Insurance Co. Ltd.'s provisioning in foreign exchange (FX) reserves. Fubon Life recorded a net loss of NT$5.11 billion in December 2025, mainly due to the application of the regulation related to an adjustment to the basis for life insurance liability reserve provision, which resulted in a required one-time provision of NT$28.1 billion in FX reserve to strengthen its resilience against FX risks.
PROPERTY AND CASUALTY
– Russia-based MTS Bank completed its acquisition of a 100% stake in RNCB Insurance at the end of 2025, Kommersant reported, citing sources. The deal value is estimated to be between 500 million rubles and 800 million rubles. The bank is primarily acquiring the company's insurance licenses, as RNCB Insurance previously transferred its insurance portfolio to Rosgosstrakh Insurance Co.
– Insurers in Australia have received 1,386 claims related to the bushfires impacting Victoria since Jan. 7, according to the Insurance Council of Australia. These include property, commercial, motor and business interruption claims, with early indications that suggest 30% of the property claims are total losses.
– Prudential Financial Inc.'s investment management business is evaluating a sale of its India-based subsidiary, PGIM India Asset Management Private Ltd., Bloomberg News reported. PGIM Inc. appointed EY to advise on the potential sale, according to the news outlet, citing people familiar with the matter. PGIM India, which manages around 266 billion rupees in assets, has seen little meaningful expansion in recent years, Bloomberg noted.
– HDI Global SE said it opened a representative office in Seoul, South Korea, to drive profitable growth in the region. The company appointed Ki Hyung Jo as the market lead in Korea.
– Jordan-based Middle East Insurance Co. has decided to fully discontinue its motor insurance license following a comprehensive evaluation, effective Jan. 1. The company said it made the decision amid ongoing losses and structural challenges facing the compulsory motor insurance sector. Middle East Insurance secured approval from the Central Bank of Jordan for the move. The insurer will continue to provide services to its existing motor insurance clients until their policies expire.
LIFE AND HEALTH
– Health insurers in Australia warned that a plan to change the way private hospitals are funded would make premiums unaffordable for more than half a million people in the country, The Australian Financial Review reported. Modelling by Private Healthcare Australia suggests that 560,000 people could drop out of the private health system if the government backs the plan to introduce a benchmark pricing model for hospitals.
– UnitedHealth Group Inc. announced that two new independent commissioned actuarial studies found that federal payments to Medicare Advantage plans were approximately 9% less than traditional Medicare in 2025. Research firm Milliman, who conducted the analysis, also found that out-of-pocket costs for Medicare Advantage were 53% less than such costs in traditional Medicare for a non-dual eligible aged-in beneficiary with a standalone drug plan and Medigap Plan G.
REINSURANCE
– The global life reinsurance sector is poised to generate higher returns from its core life insurance portfolio, while experiencing a mixed impact on annuity books, as the industry sees morbidity and mortality revert to historical averages, according to a report from Kroll Bond Rating Agency. The retirement savings gap is fueling new business volumes for primary insurers, which in turn drive demand for asset-intensive reinsurance across geographies, KBRA added.
Beata Fojcik contributed to this report.
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