In Focus

CareEdge Ratings attribute the decrease to the YoY decline in group premiums.

This is due to the expansion of the Asian market’s capacity for warranty and indemnity insurance

A slowdown in M&A deals in H2 offset some regions' performance.

Increase in costs of claims will add pressurers to profits.

Rising interest rates and inflation dented demand for life insurance products.

Jobs in digital transformation, data management, and data analytics will remain competitive.

Australian flooding events were the costliest for insurers with $4b in insured losses.

The top 50 insurers saw 5.1% growth in 2021.

Some life insurers saw their assets surge by as much as 44% in 2021.

Total insurance premiums is growing by 14% annually.

The market share of the top five insurers grew by 3.2 percentage points in 2021.

The Fraud Management System uses data analytics and AI that analyse suspicious claims. 

These threats are causing the industry $9.53b worth of losses.

The number of insured EVs tripled from 2018 to 2021.

S&P said APAC reinsurers showed slower growth and subdued underwriting margins.

They account for 60.1% and 30% of the share in new business DWP in 2021.