Staff Reporter
Sunshine Insurance net profit soars 45.8% in FY 2024
Sunshine Insurance net profit soars 45.8% in FY 2024
The group’s customer base reached 30.19 million last year.
Sri Lanka appoints experts from finance, law, and insurance to Commission
The appointments were made by President Anura Kumara Dissanayake.
Quarter of Singaporeans risk high-interest loans to invest despite low literacy
The risk appetite is highest among Gen Z (29%) and millennials (31%).
Insurers may cover only 25% to 33% of disaster damages by 2030
Insurers also expect to gain up to 15% revenue rise from AI and tech boost.
Mitsui Sumitomo to invest $4b for 15% stake in W. R. Berkley
MSI expects to finalise the investment within the 2025.
MS Amlin opens Sydney office to expand APAC reinsurance business
Matt Botfield was appointed as head of Australia and New Zealand.
Prudential partners with Thomson Medical to expand IP specialist network
IP customers will have access to approximately 100 additional specialist doctors.
HKIA considers smoothing mechanism for insurance commissions structure
It also reported a 99.9% compliance rate with Continuing Professional Development (CPD) requirements.
1 in 5 HK execs rate financial crime compliance programmes effective
Key challenges include a lack of technology and investment.
Sun Hung Kai Properties Insurance keeps strong underwriting profitability
It also outperformed industry peers, AM Best notes.
Cathay and Zurich collaborate for insurance and rewards programme
This will allow Cathay members to access insurance whilst earning air miles.
Aon names new Asia CEO of reinsurance solutions
Soeren Soltysiak will oversee the strategy in Asia, which includes treaty, facultative, analytics, and operations.
HKIA sets 6% illustration rate cap on HKD policies
Caps apply only to internal rate of return used in benefit illustrations at the point of sale.
Myanmar quake shows urgent insurance need in Asia: Howden
Myanmar is considered to have a low insurance penetration rate.
BFSI sector leads cyber insurance adoption at 35% to 40% share
This was followed by the technology and IT sector at 30%.
Howden sees January premiums rise 4.5% on higher volumes
Premium growth was driven by increased demand for reinsurance.
Fitch expects Helia Insurance capital buffer sufficient against downturn
The insurer is one of Australia’s largest lenders' mortgage insurance provider.
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