Insurance
Hong Kong’s insurance premiums climb 5.1% YoY in H1 2024
Hong Kong’s insurance premiums climb 5.1% YoY in H1 2024
Both long-term and general business recorded YoY growths.
Toa Re’s improved underwriting to boost financials overtime
Its FY 2023 net profit saw $110m.
Reinsurers see 6% growth in premiums
Reinsurers faced changes driven primarily by the implementation of IFRS 17.
Japan’s Shanshan brings major losses
The typhoon reached peak intensity on 27 August.
Asian insurers shift to private credit amidst new RBC rule
APAC insurers allocate an average of 6.4% of their portfolios to illiquid credit.
China Taiping’s net profit leaps 19.4% YoY in H1 2024
EPS stood at HK$1.54.
Allianz Life enhances employee benefits in Malaysia
Some of the benefits include priority admission and cashless outpatient radiotherapy treatment.
IFRS shifts AM Best’s reinsurance list
Munich Re topped this year’s rankings with $32.9b in revenue.
Zhong An’s H1 2024 earnings fall 24.5% YoY
Its EPS stood at RMB1.11 cents.
Over 4,000 BFSI assets wrongly exposed in SEA
About 300 internet-facing assets can be exploited.
Peak Re’s capitalisation remains robust amidst strong profits
Its net profit reached $200m in 2023.
Asia Pacific drives 54% of bancassurance market growth
The market is seen to expand by 6.74% this year.
Cambodia's gross premiums surge 16.9% YoY in July
The life insurance market’s contraction was offset by its general insurance.
Taiwan’s investment-linked insurance products dwindle in June
Sales of traditional products increased 19% YoY.
Taiwan insurers' earnings doubled to $10b in July
Both its life and non-life segments witnessed triple-digit growth.
AIA, Singapore University of Social Sciences launch insurance minor
As part of the agreement, the insurer plans to upskill 100 of its employees.
Insurers burdened by managing investments, seeks third-party aid
Life insurers outsource less frequently than P&C or health insurers.
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