Insurance
114 million Indonesians insured in H1 2024, up 28.4%
114 million Indonesians insured in H1 2024, up 28.4%
Bancassurance generated the highest premium income at $2.33b.
MS First Capital Insurance’s underwriting drives consistent profitability
Shareholders’ equity, which reached $900m (S$1.2b) in 2023.
Construction Guarantee’s focus on public projects mitigates economic risks
CG's regulatory capital ratio improved to 225% in 2023.
Aon's new tool aids firms in cyber risk management
It aims to tackle ransomware, data breaches, business interruptions, and insider risks.
Liability insurers adjust to spike in US nuclear verdicts
In 2023 alone, nuclear verdicts increased by over 27%.
Philippine’s premiums jump 14% in Q3 2024
It bagged $5.58b during the quarter.
Australia’s new reinsurance capital requirements to boost general insurers
Whilst lower reinstatement requirements could reduce reinsurance costs, mandating all-perils coverage may increase them.
Sri Lanka sets new insurance sales standards for mobile, line operators
Insurers must also disclose customer onboarding requirements.
bolttech secures $50m venture debt from HSBC, expands market
HSBC has been a partner of bolttech since 2019.
Life insurance premiums forecast to grow by 3% yearly until 2026
Global life insurance premiums are expected to rise to $4.8t by 2035.
Prudential launches AI lab in Singapore
Employees have submitted over 100 AI use cases since its soft launch in August.
NorthStandard raises premiums by 5% for 2025-2026
By mid-2024, NorthStandard recorded 14 large claims exceeding $1m.
Tokio Marine Holdings raises full-year net income forecast by $258m
Its first-half net income surged 77% YoY.
APAC’s insurance third-party administrator market to reach $515b by 2030
Globally, it is seen to reach $515b by 2030.
Labuan Reinsurance solvency remains robust
The company’s underwriting performance has shown consistent gains in 2023.
Suncorp Group's outlook challenged from higher risks, costs challenges
Despite this, SGL's prescribed capital amount coverage remains robust.
Dai-ichi Life H1 net income up 27% to $960m in H1 2024
However, premiums declined 6.3% YoY to $6.99b.
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1. Remote job demand in Singapore insurance rises 15.3% 2. India insurance market sees moderating premium growth: Report 3. Tokio Marine Life, RHB launch guaranteed-acceptance plan for seniors 4. Manulife to sell MVI Life to Japan’s Asahi Life 5. Hong Kong reinsurers to absorb significant claims from Wang Fuk Court fireResource Center
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AI isn’t replacing insurance, it’s finally making it work