This week in insurance: FWD IPO debuts, Global premium outlook dim, Thai claims rise from quake disaster

HSBC Life also launched a HNWI-specific product with gold tracking.

Asia-Pacific's insurance sector from 7 July to 11 saw an active equities market space alongside a mixed industry outlook.

Great Eastern Holdings (GEH) said the price of the per share exit offer did not break any takeover rules and defended the process by OCBC, ahead of a key vote on its proposed delisting on 8 July 2025.

The range was US$23.5 to US$29.35 (S$30.10 to S$37.63) per share. GEH said this did violet any regulations, since OCBC is the offeror and the information was shared in confidence.

FWD Group has priced its Hong Kong IPO at $4.84 (HK$38) per share, ahead of its listing on the main board of the Hong Kong Stock Exchange on 7 July 2025. The offering was expected to raise $445m, or up to $512m if the over-allotment option is fully exercised.

HSBC Life has launched the HSBC Aspire Prime Indexed Universal Life product in Hong Kong, aimed at professional investors looking for flexible investment options with downside protection features to support legacy planning.

Meanwhile, the Philippines’ Insurance Commission (IC) plans to increase the premium rates for motor vehicle insurance, whilst expanding the maximum coverage.

According to a draft circular dated 27 June, it proposes increased premium rates for select vehicle classifications under both one-year and three-year coverage plans.

Furthermore, insurance claims from the powerful earthquake that hit Myanmar and northern Thailand in March may climb to $1.53b (THB50b), according to the Thai General Insurance Association (TGIA) as reported by the Bangkok Post. This is up from the $920m (THB30b) already filed from 150,000 claims.

Forward-looking, the world’s insurance premium growth is expected to slow to 2% in 2025, from 5.2% in 2024, before recovering slightly to 2.3% in 2026. This will be influenced by broader economic deceleration triggered by US tariff policies and growing global uncertainty, according to Swiss Re Institute’s latest World Insurance sigma report.