Insurance
Australia’s general insurance market to reach $93.9b by 2029
Australia’s general insurance market to reach $93.9b by 2029
In 2025, the market is expected to reach $68b.
Annuity insurance market to grow 4% annually, reaching $1.5t by 2032
But high cost of annuities and other constraints hinder market growth to some extent.
Only 4% of insurers fully trust AI agents despite growing interest
42% of insurers have yet to develop a formal strategy for deploying AI agents.
Guy Carpenter names Hakes global head of Marine, Energy and Technical Lines
He has over two decades of experience in the industry.
Globally insured losses highest since 2011
But the total global economic losses stood at $151b, lowest since H1 2021.
Prudential’s Hong Kong insurance business still key despite India buzz
India contributed only 3% of fiscal year 2024.
bolttech, OMRON launch subscription plan for blood pressure monitor owners
It offers up to S$10,000 protection for heart attacks and strokes.
Marsh McLennan posts $1.2b profit in Q2 2025
For the first half of 2025, net income for the period was $2.6b.
Cargo insurance market to grow 4.2% through 2029
The market is expected to bag $70b.
McKinsey sees AI transforming underwriting and claims work
AI is expected to handle nearly all customer onboarding and policy processes.
APAC leads global burial insurance growth at 8.5% CAGR
Decline of extended family systems are increasing demand for burial insurance.
PICC Hong Kong improves market share with reinsurance gains: AM Best
Profitability is stable, with 2024 earnings driven by investment income.
Allianz forms reinsurance joint venture with Jio Financial Services Limited in India
The new entity will leverage Allianz’s existing operations in India.
DB Insurance holds steady on profits amidst market pressures: AM Best
Operating performance is projected to remain solid.
Kotak Life launches term plan for emerging affluent Indians
The new offering expands Kotak Life’s range of term insurance products.
Insurance third-party administrators market to grow 10.3% in 2025
Asia-Pacific is expected to post the fastest growth through 2029.
AM Best expects Munich Re profits to stay resilient
The group posted a net profit of $6.61b (€5.7b) in 2024.
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Awards
Jul
07
Event News
CEO Phlaphongphanich said the industry is measuring the wrong things.
