Insurance Asia

New reinsurance guidelines spotlight Indian insurers' capital management
The IRDAI is actively considering introducing collaterals within the Indian insurance industry.
Australian employers to boost 2024 salaries by 4.0%; insurance sector trails: WTW
Inflationary pressures and concerns over a tight labour market continue to be catalysts.
Zurich Group's BOP jumps 21% YoY, APAC business soars
The APAC business also announced a partnership with India-based Kotak Mahindra Bank.
IRDAI modifies master circular on unclaimed amounts of policyholders
The IRDAI reminded insurers to make better efforts in terms of payment of dues.
S&P Global Ratings forecasts earnings surge to $3.6b in 2024 for Swiss Re 
Its life and health reinsurance segment is projected to reach $1.5b in profits.
Regulatory shake-up threatens Vietnam’s bancassurance sales
Bancassurance activities will face stricter management, under the amended Law on Credit Institutions.
AXA XL Reinsurance CEO ‘bullish’ for 2024
The CEO said a shift towards a more balanced relationship between insurers and reinsurers, with a clearer division of labour, in terms of the renewal season.
IFRS 17, K-ICS weakens average solvency ratio
The adoption of K-ICS drove operational strategies of Korean insurers to focus on expanding sales of protection-type products with high profitability. 
IAG New Zealand’s first-half GWP leaps nearly a quarter from last year
The NZ business has processed more than 52,000 claims from the increasing risks and extreme weather events in 2023.
Over two-thirds of New Zealanders fret over house insurance costs
Consumer NZ urges New Zealanders to review their current level of cover and shop around.
HK insurance firms willing to invest in tech attract candidates in the sector
Insurers in Hong Kong earn HK$18,000 to HK$200,000, depending on the applicable department and job role or level.
Singlife ramps up interest rates of flagship digital savings plan
Half of Singaporeans find it hard to meet conditions for maximum interest rates on savings accounts. 
United Overseas Insurance profits surge 55% YoY FY’23
Earnings per share during the year was 47.85 Singaporean cents.
HKIA warns of risks in premiums financing, “double-edged sword”
The authority urges insurers to seek professional advice before premium financing.
NorthStandard sees rise in premium earnings since merger
Its gross tonnage (GT) rose to 256 million as of 20 February.

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Exclusives

Exclusives

Insurance Why embedded insurance is a must-have
An estimated 16% of Asian insurers’ revenues are now derived from embedded insurance.
Insurance Singaporeans struggle with critical illness coverage despite reduction in protection gap
AIA SG’s chief marketing and proposition officer expects insurers to keep up with consumer demands better in 2024.
Insurance 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.
Insurance Insurance rides high on surge in Hong Kong travellers
CEO Jim Qin of Zurich Insurance cites a trend for extended vacations among Hongkongers in 2023, boosting travel insurance sales.
Insurance Economic slowdown challenges insurance underwriting; emerging markets show promise
Swiss Re Institute analyst underscored that real premium growth in emerging markets, including China, outpaces the more advanced economies.
Insurance Rising S’pore EV registrations prompt insurers to evaluate premiums and coverage
Plugging into Lion City’s 80% emission cut goal, EVs bring progress and new risks for motorists.
Insurance Swiss Re upbeat about growth of insurance sector
As a cautionary note, an economist said fixed annuities face potential decline as higher Interest rates shift consumer preferences.

Top News

New reinsurance guidelines spotlight Indian insurers' capital management
The IRDAI is actively considering introducing collaterals within the Indian insurance industry.
Australian employers to boost 2024 salaries by 4.0%; insurance sector trails: WTW
Inflationary pressures and concerns over a tight labour market continue to be catalysts.
Zurich Group's BOP jumps 21% YoY, APAC business soars
The APAC business also announced a partnership with India-based Kotak Mahindra Bank.
IRDAI modifies master circular on unclaimed amounts of policyholders
The IRDAI reminded insurers to make better efforts in terms of payment of dues.
S&P Global Ratings forecasts earnings surge to $3.6b in 2024 for Swiss Re 
Its life and health reinsurance segment is projected to reach $1.5b in profits.
Regulatory shake-up threatens Vietnam’s bancassurance sales
Bancassurance activities will face stricter management, under the amended Law on Credit Institutions.
AXA XL Reinsurance CEO ‘bullish’ for 2024
The CEO said a shift towards a more balanced relationship between insurers and reinsurers, with a clearer division of labour, in terms of the renewal season.
IFRS 17, K-ICS weakens average solvency ratio
The adoption of K-ICS drove operational strategies of Korean insurers to focus on expanding sales of protection-type products with high profitability. 
IAG New Zealand’s first-half GWP leaps nearly a quarter from last year
The NZ business has processed more than 52,000 claims from the increasing risks and extreme weather events in 2023.
Over two-thirds of New Zealanders fret over house insurance costs
Consumer NZ urges New Zealanders to review their current level of cover and shop around.
HK insurance firms willing to invest in tech attract candidates in the sector
Insurers in Hong Kong earn HK$18,000 to HK$200,000, depending on the applicable department and job role or level.
Singlife ramps up interest rates of flagship digital savings plan
Half of Singaporeans find it hard to meet conditions for maximum interest rates on savings accounts. 
United Overseas Insurance profits surge 55% YoY FY’23
Earnings per share during the year was 47.85 Singaporean cents.
HKIA warns of risks in premiums financing, “double-edged sword”
The authority urges insurers to seek professional advice before premium financing.
NorthStandard sees rise in premium earnings since merger
Its gross tonnage (GT) rose to 256 million as of 20 February.

Exclusives

Insurance Why embedded insurance is a must-have
An estimated 16% of Asian insurers’ revenues are now derived from embedded insurance.
Insurance Singaporeans struggle with critical illness coverage despite reduction in protection gap
AIA SG’s chief marketing and proposition officer expects insurers to keep up with consumer demands better in 2024.
Insurance 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.
Insurance Insurance rides high on surge in Hong Kong travellers
CEO Jim Qin of Zurich Insurance cites a trend for extended vacations among Hongkongers in 2023, boosting travel insurance sales.
Insurance Economic slowdown challenges insurance underwriting; emerging markets show promise
Swiss Re Institute analyst underscored that real premium growth in emerging markets, including China, outpaces the more advanced economies.
Insurance Rising S’pore EV registrations prompt insurers to evaluate premiums and coverage
Plugging into Lion City’s 80% emission cut goal, EVs bring progress and new risks for motorists.
Insurance Swiss Re upbeat about growth of insurance sector
As a cautionary note, an economist said fixed annuities face potential decline as higher Interest rates shift consumer preferences.

Join the Insurance Asia community