APAC
Global life risk protection grows at 2.7% annually
Global life risk protection grows at 2.7% annually
Demand for protection products shows less sensitivity to interest rate changes.
Aon's new tool aids firms in cyber risk management
It aims to tackle ransomware, data breaches, business interruptions, and insider risks.
Liability insurers adjust to spike in US nuclear verdicts
In 2023 alone, nuclear verdicts increased by over 27%.
Life insurance premiums forecast to grow by 3% yearly until 2026
Global life insurance premiums are expected to rise to $4.8t by 2035.
NorthStandard raises premiums by 5% for 2025-2026
By mid-2024, NorthStandard recorded 14 large claims exceeding $1m.
APAC’s insurance third-party administrator market to reach $515b by 2030
Globally, it is seen to reach $515b by 2030.
Only 20% of insurers assess tech risks fully
50% of CROs are already using early-warning KPIs to monitor risks.
FM appoints new COO
Hodge joined FM in 1990.
Insurance sector sees surge in patent filings for data analytics to 1,978
There are over 13,750 patents filed to date.
APAC insurers face tighter capital buffers
Some markets are not required to hold explicit capital against the illiquidity risk of private debt investments.
Asia leads in embedded insurance, set to reach $170b by 2030
70% of global losses between 2016 and 2023 from natural disasters are uninsured.
Specialist Risk Group appoints new leader for risk and compliance
She will report to CEO Warren Downey.
IAIS sets global roadmap with 2025-2029 plan on resilience
Climate change, digital, and cyber are core themes for the coming years.
Swiss Re net income falls 12% in 9M 2024
In the third quarter, its net income was $102m.
HDI Global launches first complete ESG liability coverage worldwide
It was initially offered in Italy, Spain, and Portugal.
Global R&W claims notifications fall 21%
APAC, however, reported the lowest R&W notifications in three years.
3 in 10 diabetics struggle to afford appropriate care, coverage
Mental health is also affected, as 65% of diabetics report negative impacts.
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Commentary
For Asia’s insurers, boldness is the key to an AI-driven transformation
India’s cyber risk paradox: High attack rates, low insurance preparedness