APAC
Allianz APAC’s H1 2024 busines volume more than doubled
Allianz APAC’s H1 2024 busines volume more than doubled
Its life and health business saw new business value surge 34% YoY.
Underwriting profits drive Lloyd's earnings surge of 25.6% YoY
The market’s combined ratio improved to 83.7%.
Asia's cyber insurance market set to triple by 2025
Cost of cybercrime is projected to increase to nearly $24t by 2027.
Reinsurance sector to remain profitable through 2025
The sector achieved record profits in 2023 and the first half of 2024, said Fitch Ratings.
Asia faces $74t retirement income shortfall
Emerging markets in Asia face a $74 trillion pension savings shortfall.
BMS Group expands with new healthcare role
She brings 27 years of experience.
MSIG, Serenity target gaps in local health coverage
It plans to expand to Indonesia and Vietnam.
Allianz reels two new senior hires to boost health line
Both have over a decade's worth of experience.
EV and hybrid insurance market to grow by 17% in the next four years
Challenges arise from the high cost of repairing or replacing components.
Climate insurance market set to double by 2030
Insurers are adapting through central hubs or establishing vertical business units.
SMBs boost cyber insurance uptake amid rising threats
67% of ransomware attacks in Q4 2023 affected SMBs with less than 1,000 employees.
Reinsurers benefit from higher rates, restrictive policies
A slowdown in property reinsurance price hikes next year is still anticipated.
Reinsurers urged to discipline performance amidst casualty risks
Combined ratio forecasted to remain between 92% and 96% in 2024 to 2025.
Insured losses from NatCat surge to $151b, fueled by urban growth
The five-year average annual loss is at $106b.
Allianz becomes largest spending insurance brand in sports in 2024
The company has 52 sports sponsorship globally.
Sun Life’s new hire to oversee digital platform expansion
He was formerly with Prudential.
ILS market expands to $46b amidst rising reinsurance prices
Investors have reaped substantial benefits from wider risk margins.
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1. Hong Kong regulator guts insurance referral fees with 50% cap 2. Can China’s $140b motor insurance market survive a 70% loss ratio? 3. PNB MetLife launches dividend fund linked to insurance 4. Taiwan life insurers face rising risk in $32b FX mismatch 5. India set to outpace China, US in premiums by 2030Resource Center
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28 March left over 5,300 dead yet coverage was negligible in Myanmar due to under 5% uptake.
