APAC
IFRS shifts AM Best’s reinsurance list
Munich Re topped this year’s rankings with $32.9b in revenue.
IFRS shifts AM Best’s reinsurance list
Munich Re topped this year’s rankings with $32.9b in revenue.
Asia Pacific drives 54% of bancassurance market growth
The market is seen to expand by 6.74% this year.
Insurers burdened by managing investments, seeks third-party aid
Life insurers outsource less frequently than P&C or health insurers.
Life/annuity reinsurers see improved conditions amidst higher rates
L/A reinsurers remain well-capitalised until 2025.
Tough reinsurance market compounded by IFRS 17
Although this shouldn’t affect a company’s financial strength, says AM Best.
A quarter of businesses with standalone cyber insurance act quicker
About 37% of enterprise respondents secured $100m or more in coverage.
Reinsurers capital seen to reach $625 by end of year
Thanks to higher retained earnings and lower investment losses.
Asians spend 30 times less on insurance than Americans
Despite major markets like China and Japan, per capita spending remains modest.
Sun Life gets new CRO for Asia
He joins from FWD Group.
Insufficient insurance amplifies banks' climate risk
The lack of coverage raises silent risks in the banking industry, Aon said.
Reinsurers meet cost of capital for first time in four years
The industry's weighted average cost of capital rose to 8.12% in 2023.
Pet insurance market slated for 8.1% CAGR by 2032
Several insurance companies now offer multi-pet insurance policies.
Swiss Re targets over $3.6b FY24 net income, bags $2.1b in H1
EPS for the period was $6.97.
AIA’s net profit surges 47.2% YoY in H1 2024
EPS stood at $0.30.
WTW lists 5 benefits of parametric insurance in energy sector
Regular payouts often take 15 to 30 days, but parametric can expedite this long-wait.
SCOR merges APAC Life & Health units under new leadership
Dion Russell left SCOR to pursue other opportunities.
Extortion cyber attacks rank financial services as 4th most targeted
Australia and New Zealand more vulnerable compared to firms in Europe or North America.
Thought Leadership Centre
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1. India's life insurance growth slows to 10.6% in October 2. South Korean insurers brace for profit squeeze amidst rate cuts 3. bolttech secures $50m venture debt from HSBC, expands market 4. Life insurance premiums forecast to grow by 3% yearly until 2026 5. Prudential launches AI lab in SingaporeResource Center
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Humans need to be in insurance’s genAI loop
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Insurance
Employees still need to interpret AI-generated data and make decisions to minimise risks.
Employees still need to interpret AI-generated data and make decisions to minimise risks.
