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Insurers in ANZ leverage AI amidst tightening margin
Insurers in ANZ leverage AI amidst tightening margin
Due to inflation, extreme weather events, and evolving consumer expectations.
China's medical insurance fund reports surplus in 2024
Basic medical insurance system covered 6.7 billion outpatient settlements.
Japanese trading house acquires 20% of Thaivivat Insurance
The transaction is expected to finish by February.
AXA partners with Prosper Health for cross-border cancer care
Benefits include second opinions, insurance pre-approval assistance, and P-to-P transfers.
Sompo Thailand policyholders benefit from lounge access for delayed flights
Thanks to its partnership with Collinson International.
Meiji Yasuda rolls out 5% wage hike amidst inflation
This marks the 2nd consecutive year of wage hikes for its 11,000 internal staff.
India's non-life insurance premiums dip slightly in December 2024
Because of revised reporting requirements that defer long-term policy recognition.
Shinhan Bank inks deal with Petrolimex Insurance on Vietnam expansion
The bank will distribute PJICO’s non-life insurance products.
Financial firms plan cautious 2025 pay raises
Region-wide, planned budget increases averaged 5.2%.
Parametric insurance market to grow 12% by 2032
AXA and Munich Re are leading the parametric insurance market.
Reinsurers face billions in California fire claims
Gallagher Re revised its insured losses estimation to $20b-$30b.
India’s general sector premiums seen to rise in the medium term
The sector has also benefitted from favourable investment conditions.
South Korean insurers face $62m from LA wildfire losses
DB Insurance holds 37 active policies in the affected regions.
Taiwan Life earnings ‘volatile’ from interest-sensitive products reliance
The company has a 6% share of premium income as of 2023.
Budget Direct unveils new commercial vehicle cover
Customers can opt for the benefit of vehicle repairs at their preferred location.
Global insured losses peak third highest since 1980
Not even half of the total losses were insured.
Global reinsurers set to keep profits high in 2025
This is forecast to happen despite lower rates in the January renewals.
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CEO Phlaphongphanich said the industry is measuring the wrong things.
