Australia
Australia life insurance industry turns profitable in 2021
Australia life insurance industry turns profitable in 2021
Return on net assets increased by 3% for 2021, up from -6% in 2020.
APRA proposes reforms to strengthen private health insurance
One of the proposals is to increase minimum capital requirements.
Australia’s private health insurance rebounds to 44.7%
The country’s private health has been on a steep decline since 2015.
WTW acquires Sydney-based aviation insurance broker Aerosure
Aerosure services the insurance and risk needs of the aviation industry Australia and Asia Pacific.
AIA appoints former Sun Life president as new regional CEO
The insurance veteran will also lead AIA’s Group Strategy and Corporate Development.
AMA proposes health savings scheme for millennials
This is to encourage them to obtain and retain their private health insurance.
Australia classifies insurers as emergency responders
The Insurance Council of Australia welcomed the updated protocol for insurers.
Australia’s 2022 nat cat claim to reach whopping $770m: IAG
Extreme weather events have raised IAG’s expectation for natural perils claim costs.
Federal court rules in favor of Australian insures in COVID-19 BI cases
The insurers avoided coughing up an estimated A$10b in payouts.
Australian insurers ready for regulatory reform: ICA
Insurers made ‘sweeping changes’ for the upcoming reforms, it said.
Australia’s Business Advisory Council to improve affordability of insurance
The council was formed by the Insurance Council of Australia.
Zurich mulls selling Australian general insurance assets: report
This is part of the group’s plans to streamline its assets.
Australia’s CBA pleads guilty for mis-selling insurance products
CBA issued an apology to affected customers.
ICA calls for national approach for disaster response
Australia’s insurance group wants a COVID-safe way to move personnel across the border.
Westpac completes sale of lenders mortgage insurance arm
The business was sold to Bermuda-based Arch Capital Group Ltd.
Lockdowns lifts Australian health insurer profits
And lowered claims costs for health insurers.
ICA warns new cybersecurity rules could raise premiums
Australian insurers urged the government to approach these amendments with caution.
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Hewison highlights how insurers must balance innovation with trust, compliance, and societal impact to remain resilient and relevant in an increasingly complex landscape.
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The increasing number of affluent individuals in India and their evolving insurance needs