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In this list

Max Life/HDFC Standard deal clears hurdle; MetLife to reduce staff in Japan

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Max Life/HDFC Standard deal clears hurdle; MetLife to reduce staff in Japan

S&PGlobal Market Intelligence offers our top picks of insurance news stories andmore published throughout the week. Please note that some entries may havelinks to third-party sources that may require a subscription.

MaxLife/HDFC Standard deal clears hurdle, more deals

* Max Financial Services' shareholdersapproved a resolutionto pay a noncompete fee of 8.5 billion Indian rupees to controllingshareholders as part of the firm's three-way merger with andHDFC Standard Life Insurance Co.Ltd.

* ZurichInsurance Group Ltd. unit Zurich Australian Insurance Ltd. the court and regulatoryapproval process for its acquisition of Macquarie Group Ltd.'s life insurance business.

* Japan's Dai-ichi Life Insurance Co. Ltd. an additional 18% stakein joint venture Star Union Dai-ichi Life Insurance Co. Ltd. from . Following thesale, Dai-ichi Life's stake in the joint venture increased to 44% from 26%.

* ThaiReinsurance PCL bought additional shares in two of its subsidiarycompanies, Thaire Actuarial Consulting Co. Ltd. and Thaire Services Co. Ltd.The company purchased 352,500 shares of Thaire Actuarial for 100 Thai baht pershare and 2 million shares of Thaire Services for 10 baht per share.

* AFFINHoldings Bhd. and AXAAffin General Insurance Bhd. requested a from Bank Negara Malaysiato negotiate a proposed deal with Felda Marketing Services Sdn. Bhd. AFFINHoldings is looking to acquire additional shares in AXA Affin General Insurance.

* Canada's Fairfax Financial Holdings Ltd. is seeking to US$500 million to fundpotential acquisitions in India. The company is in talks to buy a 10% stake inCatholic Syrian Bank Ltd.

Globalinsurers make Asia-Pacific appointments

* ChubbLtd. appointed Michael Frazer as Asia-Pacific head ofproperty. It also named Michael Peacock as head of energy and power forAsia-Pacific and Stephen Hanna as energy and technical lines manager forAustralia and New Zealand.

* Chubb Life, the global life insurance division ofChubb, appointedBen Ng as chief marketing officer and a member of the executive committee ofits Hong Kong operation. Ng joined Chubb Life from FWD Life Insurance, wherehe was assistant vice president of the product development and management team.

* Aspen Re has appointed Philip Hough managing director forAsia-Pacific. He will be based in Singapore.

* Jamie Chambers was as country manager for XLCatlin's insurance operations in Hong Kong. Chambers will continue his role asregional product leader of aerospace insurance for Asia-Pacific in addition tothe new role.

Inother news

* Bangkok Life Assurance PCL will business in Cambodia in 2017.The company earlier received a license to operate in the country for its jointventure, Bangkok Life Assurance (Cambodia) PCL.

* MetLifeInc.'s Japanese unit is looking to its headcount by offeringvoluntary retirement packages to around 4,800 nonsales personnel as part ofefforts to streamline its business.

* ICICIPrudential Life Insurance Co. Ltd. raised 60.57 billion Indian rupees from its IPO afterdrawing strong response from investors. The IPO, the first by an Indian insurerand the largest IPO in six years, was oversubscribed 10.44x.

* SompoJapan Nipponkoa Holdings Inc. has started the use blockchain technologyto provide customers with derivatives products.

* Moody's upgraded its outlook on to positive from stablewhile affirming its ratings. The insurance financial strength ratings ofAIA Co. Ltd. andAIA InternationalLtd. were affirmed at Aa3.

Featured on S&PGlobal Market Intelligence

Online insurerLifenet faces difficult market as Japanese still prefer traditional saleschannels: LifenetInsurance Co. Ltd., the biggest purely online life insurancecompany in Japan, has seen its growth slow as competition in the sector heatsup and Japanese consumers continue to prefer face-to-face sales when it comesto life insurance products.

Data DispatchAsia-Pacific: Diversification helps Ping An endure tough times for Chineseinsurers: A diversified business portfolio is proving a boon toPing An Insurance (Group) Co. ofChina Ltd. as an industry slump hits Chinese insurers. The group isbenefiting from the varied revenue sources at a time when Chinese insurersacross the board are struggling to increase investment gains.