This week in insurance: Taiwan profits slide, cyber and fraud covers roll out, regional leadership reshuffle

Markel Insurance appointed John Bang as its inaugural head of Korea and Japan.

The insurance sector from 9 to 13 February saw a sharp fall in Taiwan’s overall insurer profits driven by weaker life insurance earnings, steady regulatory updates in Singapore, and a series of new product launches

The pre-tax profit of Taiwan’s insurers as of December 2025 fell by 43.3% year-on-year (YoY) to $6.2b (NT$193.7b), driven by the dip in life insurance earnings, data from the Insurance Bureau showed.

Life insurance companies recorded pre-tax profit of $5.0b (NT$156.9b), down 50.3% from a year earlier. In contrast, non-life insurers posted pre-tax profit of $1.2b (NT$36.8b), up 41.5% YoY.

Singapore’s financial regulator recorded a low number of health insurance disputes resolved in favour of policyholders over the past three years, according to an oral reply in Parliament on 4 February 2026.

Responding to a question from Dr Hamid Razak, Member of Parliament for West Coast–Jurong West GRC, Minister of State Alvin Tan said the Monetary Authority of Singapore (MAS) had earlier addressed similar questions in Parliament in November 2025.

Zurich Financial Services Australia (Zurich) unveiled a cyber insurance product for Australian businesses in collaboration with Cowbell.

The new cover, “PrimeOne,” uses artificial intelligence (AI) to underwrite, quote and bind applications in less than five minutes. The product is available through licensed insurance brokers for Australian businesses with up to $100m in annual turnover.

AIA Hong Kong & Macau has launched Family Health MedTeam under its AIA Alta Club, offering round-the-clock medical support for high-net-worth families with healthcare needs in the Chinese Mainland.

The service provides 24/7 access to doctors and nurses through a dedicated WeChat group, covering care coordination at Grade 3A hospitals across the Chinese Mainland.

Zurich General Insurance Malaysia Berhad and ShopeePay launched a new online financial fraud protection product in Malaysia, aiming to make insurance coverage more accessible as scam-related losses continue to rise.

The product, called Zurich Wallet Protection, is available on the ShopeePay and Shopee apps and is priced from $0.35 (RM1.40) per month.

It provides coverage not only for ShopeePay transactions but also across users’ bank accounts, e-wallets and card payments.

Hong Kong-based health insurance specialist, Bupa Hong Kong, and Tencent launched Hong Kong’s first palm verification check-in service for the healthcare market.

The solution, Express Check-In, is a contactless process launched across 20 designated Bupa network clinics citywide.

Markel Insurance appointed John Bang as its inaugural head of Korea and Japan, with immediate effect.

Bang will lead Markel International's operations across Korea and Japan, strengthening the division’s presence in these key markets, with a focus on developing its wholesale business.