News
South Korea’s general insurance sector to hit $33.3b by 2029
South Korea’s general insurance sector to hit $33.3b by 2029
Liability insurance, the second-largest segment, is expected to expand by 12.2% in 2024.
PH, Indonesia renew agreements to strengthen cross-border cooperation
Key initiatives include expert and staff exchanges and bilateral meetings.
Philippine HMO net income rebounds to $13.58m in Q3 2024
This is due to a 22.50% rise in total revenue.
India's insurtech revenue grows 12-fold to $750m over five years
Despite this, 45% of medical expenses are paid out of pocket.
Protection and indemnity combined ratio drops to 96% in 2023/24
The year was dominated by the Dali incident, which occurred in March.
Sompo Holdings' net profit soars by 99% to $1.7b in H1 2024
Ordinary income rose by 11.4% to $19.23b.
MAS updates rules on life insurance product launches
The changes aim to ensure adequate regulatory oversight.
Fitch expects Generali to back Hong Kong life unit’s expansion
Given its previous capital injections of HK$735m from 2018 to 2022.
China's insurance sector posts strong solvency in Q3 2024
China's insurance sector has maintained steady operation and adequate solvency in the third quarter, according to the National Financial Regulatory Administration.
Worldcare rebrands as Allianz Travel Insurance in New Zealand
It now allows travellers to customise insurance packages.
China urges insurance firms to increase underwriting support for SMEs
The notice said banking institutions should continuously optimise financial services.
PT Tugu Reasuransi records $7m net profit in H1 2024
The company holds an 11% market share in Indonesia's reinsurance sector.
Zopper bags $25m in Series D funding
The company has partnered with 40 insurers and over 2,500 ecosystem players.
Allianz General Malaysia Q3 revenue rises, motor segment expands
Total assets grew 7.8% YTD to $6.15b.
Rising healthcare costs drive growth in Indian insurance: McKinsey
From FY 2020 to FY 2023, the industry saw a CAGR of 11%.
Insurance sector must remain resilient amidst emerging global risks
The sector must build a fair and inclusive market for all consumers.
Australian council backs tech-neutral consumer laws for AI
The council also urged the government to avoid regulatory duplication between the ACL and existing financial legislation.
Commentary
AI isn’t replacing insurance, it’s finally making it work