Insurers tend to operate in many lines of business, ranging from life and health to non-life insurance.
It is easier to make non-life insurance profitable than the complex life business.
And it added strong positions in both life and non-life insurance in the German market, Europe's largest, to its roster of leading market shares in life and property insurance in Italy, Austria, Hungary, Israel and Spain.
The Reinsurance segment covers non-life, life, and health insurance.
Last week Mitsui Mutual, the weakest of the seven, joined in an alliance with Sumitomo Mitsui Bank, Sumitomo Life and Mitsui Sumitomo Insurance, a non-life insurer.
Vietnam has 29 non-life insurers and 14 life insurers, according to an April report from insurance ratings agency A.M.
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Consider your life insurance a fixed and non-negotiable expense in the same way you would your mortgage or car payment.
Although it agreed to sell the business far below its valuation on the books, KB Financial's non-executive directors opposed the deal, citing an "unclear outlook for the domestic life-insurance business, the need for tighter risk management, " and a high price.
Europe's leading insurance companies rival it in terms of non-life premiums written and balance-sheet oomph.
Non-life belongs to four firms, under the state-owned General Insurance Corporation.
Up until the advent of universal whole life, the predominant form of life insurance for the middle class was participating or mutual whole life, where policyholders are treated as mutual owners of a non-public insurance company.
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Medical, dental, and life insurance plans, which have varying levels of contribution and coverage to elect, are usually non-negotiable.
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