This week in insurance: India slows, Singapore scam losses hit $16.6m, Tata AIA launches new funds

Also, most Australians rely on customer reviews when choosing a health insurer.

The insurance industry from 15 to 19 September saw mixed market growth trends, rising scam concerns, shifting consumer behaviours, regulatory support, and several new product launches and partnerships across Asia.

India’s life insurance industry reported slower growth in August 2025 as Annual Premium Equivalent (APE) rose 6.6%, down from 10.5% a year earlier. 

Over the period from August 2023 to August 2025, the industry recorded an 8.6% compounded annual growth rate, with private insurers expanding at 10.0% compared to Life Insurance Corporation of India’s (LIC) 6.1%.

Singapore's insurance services scams aw 791 cases in the first half of the year, where victims lost about $16.6m (S$21.3m) in total.

This was equivalent to 4.7% of the total $456.4m total scam losses, according to the Mid-Year Scam and Cybercrime Brief by the Singapore Police Force.

On the other hand, most Australians rely on customer reviews when choosing a health insurer, according to Money.com.au. 

The research, conducted in July 2025 with 1,000 respondents, found that 59% of policyholders check reviews before signing up or switching funds.

The Hong Kong Insurance Authority (HKIA) has welcomed measures announced by Chief Executive John Lee in his 2025 Policy Address, noting their potential impact on Hong Kong’s insurance market.

Insurers need to make healthcare in Asia easier and more affordable, as most patients delay treatment due to high costs, confusion over access, and lack of clear information, according to new research by Economist Impact commissioned by Prudential plc. 

The report found that more than 80% of respondents admitted to delaying care, with financial worries a major factor. 

On the business side of things, Tata AIA Life Insurance has launched two funds that invest in India’s top-performing companies whilst offering life insurance protection.

The Tata AIA Sector Leaders Index Fund and Sector Leaders Index Pension Fund track the BSE India Sector Leaders Customised Index, which includes up to three of the largest firms in each sector from the top 500 list.

Also, AIA Hong Kong and Macau has partnered with Concord Healthcare, a China-based group listed on the Hong Kong Stock Exchange, to expand access to cancer care for its insured members.

Meanwhile, PAO Bank Limited (PAObank) is integrating insurance into its banking services.

The bank has entered into a strategic partnership with China Ping An Insurance (hong Kong) (CPAIHK), and is offering time deposit to customers and free travel insurance to new customers.