APAC
Manulife Financial reports $5.6b net income for 2023
Earnings per share is $2.62 for the period
Insurtech funding landslides in 2023 to $4.5b
P&C and L&H both saw double-digit contractions.
AIA’s China expansion to enhance earnings diversity in long run: analyst
But capital buffers may narrow due to dividend payout and share buyback schemes.
Sun Life posts growth in Q4’23, Asia’s individual sales driven by Hong Kong market
Regional office expenses and other factors resulted in a net loss of $12m.
To lead and to lag: APAC insurance’s conflicted AI journey in 2024
Whilst AI investments reached 23.93% of the total market, 41% of firms in Asia Pacific cling to outdated tech, hindering efficiency and scalability.
WTW reels in Royston Tan for head of health and benefits, APAC
Tan has 25 years worth of experience with employee benefits and life insurance operations.
Howden’s FY’23 revenue jumps, total acquisitions at 56
EBITDA margin stood at 31.9%.
Tyser boosts Asia, MEA presence with senior hires
Jayees Ibrahim and Elias Nohra has been added to its Dubai team to enhance operations in Asia, MEA nd Africa.
APAC’s insurance rates in Q4’23 flat, rises 2% globally
This is the 25th consecutive quarter composite rates climbed.
Fusion forms partnerships with Antares, Beazley, Everest for SME business
Fusion’s standalone directors and officers (D&O) liability insurance will benefit from the collaboration.
Health insurance amongst top priorities for job seekers in SG, HK
76% of tech hiring managers in Singapore and Hong Kong found recruitment highly competitive in 2023.
Howden taps David Shalders as group COO
Shalders will report to CEO David Howden in London.
Aon revenue jumps 7% YoY in 2023
Net income for the year fell to $2.6b.
WTW's new parametric policy protects vulnerable South Pacific reefs
The coverage allows for rapid payouts, supporting reef recovery efforts and community assistance activities following cyclones.
Orderly 2024 reinsurance renewals show stability amid industry concerns: S&P Global
Reinsurers are showing interest in the property catastrophe business, benefiting primary insurers.
AXIS Capital's 2023 net income soars 79.2% to $346m
Its book value per diluted common share witnessed an uptick to $54.06.
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