Insurance
China's personal insurance sector to grow 5% to 10% annually
China's personal insurance sector to grow 5% to 10% annually
Pension and health products are expected to account for 50% of the market by 2035.
GIC Re sees profit surge 24% YoY in H1 2024
Meanwhile, underwriting loss reduced to ₹2,376.95 crore.
Australian insurance market improves in H1 2024 amidst increased competition, choices
Post-pandemic business changes continued to impact the life insurance market's profitability.
ASEAN insurers struggle with quality, and accessibility in healthcare
Private health insurance was valued at approximately $7.5b in 2023.
Gov’t plan to reduce stake may shake Seoul Guarantee Insurance’s status
Fitch also forecasts a decline in underwriting profitability through 2024 due to rising claims.
Tune Protect sees Q3 profit surge 50.3% YoY, YTD loss
YTD insurance revenue contracted 12.3% YoY.
AIA China expands with new Zhejiang branch
The planned expansions may tap into an additional 100 million potential customers.
AIA Group appoints Fisher Zhang as new regional chief executive
He will oversee operations in China, South Korea, and Vietnam.
Aon to acquire Mitsubishi Chemical Group’s insurance agency
The insurance agency, part of Dia Rix, provides corporate and personal insurance.
AIA’s medical plan introduces first-in-market rewards system
The plan integrates Signature Healthcare Circle, concierge services, and personalised health programmes.
Thailand's insurance policies grow 6.13% in Q2
Number of policies increased 6.13% YoY.
InLife’s retirement plan guarantees monthly payout
The plan also includes a life insurance component.
Japan's Property Insurance to Hit $27b by 2028
However, a recovery is anticipated in 2024.
Cambodia’s life insurance policies doubled in October
The industry saw $25m in gross premiums for the month.
Philippines ends provisional insurance licenses
The commission wants to ensure that agents with regular licenses are allowed to sell.
Vietnam nears 2025 social insurance goals, projected 20 million participants
By 2024, health insurance participants is seen to reach 95 million.
Government backing ensures Korea Trade Insurance's solvency
Moody's views government support as near-certain, given K-SURE’s designation as a public institution.
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