News

Natural catastrophes drive insured losses to record levels in 2023 – Swiss Re

Insured losses in the year alone have surpassed $100b, driven by thunderstorms.

Natural catastrophes drive insured losses to record levels in 2023 – Swiss Re

Insured losses in the year alone have surpassed $100b, driven by thunderstorms.

Yong An Insurance maintains stable outlook, strong capitalization – Moody's

Despite government support and brand awareness in Shaanxi, the insurer faces challenges in expanding its market share in the medium to long term.

Cover Genius enters partnership, offers ‘cancel for any reason’ travel coverage

Travellers can now safeguard every aspect of their journey, from illness to public transport disruptions and extreme weather.

S.K.’s FSC urges MyData regulation overhaul, fair pricing and streamlined processes

The proposed changes aim to establish reasonable standards for the pricing of data transfer costs, ensuring a sustainable operational environment for MyData services.

Oona Insurance buys 40% stake in Philippine branch from InLife

This will make Oona the sole owner of Oona Philippines.

AM Best forecasts stable medium-term growth for Meritz Insurance

The assessment mirrors Meritz's robust balance sheet strength,

65% expect surge in insurance M&A in HK and S’pore for 2024: Survey

Diversified investments, consolidation, new tech, and emerging regulations drove this sentiment upward.

HKIA seeks public input on subsidiary legislation for risk-based capital regime

This consultation comes after the implementation of the Risk-based Capital (RBC) regime.

Recent regulatory changes to boost Taiwan’s life insurance sector: Fitch Ratings

New measures extend the adjustment period for insurers to adapt product and investment strategies to meet capital requirements by 2026.

Korea’s life insurance sector jumps 49% YoY year-to-date

It accumulated a total of $3.3b in net income.

APRA urges collaboration for sustainable super life insurance

A survey was conducted to assess how the life insurance and superannuation industries are responding to the issue of sustainability.

Japan’s fundamentals to stay healthy in 2024 – Fitch Ratings

Japanese life insurers are likely to increase their investments in super-long government bonds in 2024.

Philippines’ insurance industry expands 9.38% YoY in Q3

Both its life and non-life insurance segments saw double-digit growth in earnings.

Inflation hits non-life insurance hard, property and motor sectors face uphill battle: Malaysian Re

The main impact of inflation on insurers' balance sheets is likely to be an increase in claims costs.

Global economic slowdown fueled by increased interest rates from major banks

Asia Pacific's insurance premiums are expected to climb 2.3%. In the next two years.

Swiss Re predicts $4t surge in life savings premiums by 2033 amid pension and retirement savings concerns

An estimated retirement savings gap of $106t exists across government-provided, employer-based, and individual pension savings in eight major economies in 2022.

7 out of 10 HK’ers prefer to have private health insurance for improved wellbeing: Survey

High stress and burnout were expressed by Hong Kongers which resulted in the decline in vitality levels.