APAC
This week in insurance: Aussies misjudge EV costs, India tightens fraud rules, AIA flags retirement gap
This week in insurance: Aussies misjudge EV costs, India tightens fraud rules, AIA flags retirement gap
Singlife also launched an AI tool whilst Marsh plans rebrand.
Global natural catastrophe losses keep insurers within budgets this year
In Asia, monsoon flooding and localised storm losses were main events of the year.
APAC’s guaranteed auto protection insurance market slated for 13.2% CAGR
Globally, the market is expected to grow from $3.2b in 2021 to $8b by 2031.
Willis reports mining insurance market softens as capacity rises
The influx of capacity has intensified competition amongst insurers.
Health insurance industry to rise 6.4% annually until 2031
Individual health insurance remains the largest segment globally.
AM Best clarifies capital credit rules under IFRS 17 framework
The agency also said net written premiums are replaced by net insurance service revenue.
WTW data shows insurers expect health costs to keep rising
Over half expect elevated levels to persist for more than three years.
SME insurance market to grow 6.5% annually through 2032
It is also forecasted to bag $45.61b.
Corporate boards overconfident despite worsening cyber claims
Claims data showed that ransomware attacks averaged a loss of $2.7m.
Marsh McLennan to rebrand as Marsh in 2026 with new tech unit
The firm’s four main businesses will adopt the Marsh brand beginning in 2027.
QBE Re appoints Cindy Foo as head of Asia treaty unit in Singapore
Foo has more than 20 years of experience in the reinsurance industry.
Commercial pension insurance market to hit $1.28t by 2029
Growth is driven by expanding gig and self-employed workforce.
Why insurers are trusted more than governments to manage future global risks
59% say their country is fragmented.
Insurers plan for leaner 2026 as pricing momentum eases
The property and casualty segment is expected to see a moderation in growth.
Insurers strengthen cyber governance as oversight shifts to CEOs
About 40% said CEO compensation is now tied to cybersecurity performance.
Markel names Tom Hillier as CUO for international operations
Roles of Wholesale and National Markets managing directors will be removed.
Private mortgage insurance market projected to rise to $9.7b by 2029
The market is slated for a 9.5% growth this year.
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28 March left over 5,300 dead yet coverage was negligible in Myanmar due to under 5% uptake.
