Insurance
Philippine HMO net income rebounds to $11.2m in H1 2024
Philippine HMO net income rebounds to $11.2m in H1 2024
Thanks to higher revenues driven by higher membership fees collected.
Aflac strengthens solvency with strong Japan ratio
Particularly, its medical and cancer insurance business profile remains strong.
Philippines’ insurance penetration increases amidst higher premiums end-June
It stood at 1.71%, higher than last year’s 1.63%.
Suncorp pivots to pure-play P&C insurance after divestments
Its FY 2024 P&C segment bagged $800m in net earnings.
Prudential, Google Cloud collaborate to upskill 15,000 employees
It aims to provide resources to transform their ideas into AI solutions.
China life insurers faced narrowing margins in 2023
Under C-ROSS phase 2 insurers are expected to exercise caution with investments.
India’s general insurance sector slated to expand 11.2% in 2024
Motor insurance is anticipated to account for 31.1% of GWP.
Sri Lanka to tighten capital requirements for insurers
The sector heavily relies on investment income, which challenges profitability.
CrowdStrike meltdown may shore up cyber insurance premiums
Insurers are refining their policies after the global tech outage to better manage risks.
The fourth attempt to sell MG Insurance falls through
KDIC is now looking into private contracts for MG Insurance sale.
Ping An’s green insurance premium hit $5.2b in 2023
Its green loan balance amounted to $20.4b.
Leading Group eyes Chinese market expansion post-merger
The proposed transaction values Leading Group at approximately $430m.
AU, NZ insurance pricing flat in Q2
New Zealand’s property insurance pricing slightly rose due to natural catastrophes.
Thailand’s insurance pricing flat in Q2
Overall pricing remains flat with a slight exception in casualty/liability pricing.
Hanwha General should bolster its digital non-life subsidiary
HGI reported a consolidated ROE of 6.5% in 2023.
Only 33% of Macau insurances cover Chinese medicine
Over half identified high medical costs as a barrier to medical freedom.
AIA to simplify policy language amidst customer feedback
Difficulty in understanding the terms is seen as the top reason.
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AI isn’t replacing insurance, it’s finally making it work