SWFI First Read, February 27, 2017
Chinese Insurer AIA Looks to SE Asia
Chinese mega insurer AIA Group Ltd seeks to grow its overseas investments and insurance business in emerging markets. AIA is increasing its investment presence in Singapore, by moving some team members from Hong Kong to Singapore. AIA also formed a new subsidiary in Singapore. The Southeast Asian countries of Singapore, Malaysia and Thailand have been major markets for foreign insurers as insurance penetration remains lower compared to other North Asian markets. In fact, AIA is battling Manulife Financial Corporation in a bid for the life insurance operations business of Siam Commercial Bank Pcl which is called SCB Life Assurance Pcl.
Dimensional Fund Advisors Starts Succession Path
David Booth is stepping down as Co-CEO of Dimensional Fund Advisors and is being replaced by Dave Butler. Butler is joining Eduardo Repetto as co-CEO of the firm. Butler will also join Dimensional’s board of directors. Booth will continue to be executive chairman of the company. David Booth and Rex Sinquefield founded Dimensional in 1981 with the idea of using academic theories in real world applications. Dimensional has around US$ 460 billion in assets under management.
Qatar Petroleum Merges Petrochemical Operations to Save Money
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