Olivia Tirona
Climate change alters insurer risk management: S&P
Climate change alters insurer risk management: S&P
Secondary perils have caused the reinsurance industry to regain capital in 5 of 6 years.
Hanwha Life acquires 75% stake in US firm Velocity Clearing
It aims to establish a foothold in the US financial sector.
Allianz Asia Pacific's business volume jumps 16%
The annualised premium (ANP) for Life/Health grew 14%.
APAC insurance M&A activity slows in Q3
Two major transactions faced regulatory scrutiny during the quarter.
114 million Indonesians insured in H1 2024, up 28.4%
Bancassurance generated the highest premium income at $2.33b.
MS First Capital Insurance’s underwriting drives consistent profitability
Shareholders’ equity, which reached $900m (S$1.2b) in 2023.
Construction Guarantee’s focus on public projects mitigates economic risks
CG's regulatory capital ratio improved to 225% in 2023.
Aon's new tool aids firms in cyber risk management
It aims to tackle ransomware, data breaches, business interruptions, and insider risks.
Liability insurers adjust to spike in US nuclear verdicts
In 2023 alone, nuclear verdicts increased by over 27%.
Philippine’s premiums jump 14% in Q3 2024
It bagged $5.58b during the quarter.
Australia’s new reinsurance capital requirements to boost general insurers
Whilst lower reinstatement requirements could reduce reinsurance costs, mandating all-perils coverage may increase them.
Sri Lanka sets new insurance sales standards for mobile, line operators
Insurers must also disclose customer onboarding requirements.
bolttech secures $50m venture debt from HSBC, expands market
HSBC has been a partner of bolttech since 2019.
Life insurance premiums forecast to grow by 3% yearly until 2026
Global life insurance premiums are expected to rise to $4.8t by 2035.
NorthStandard raises premiums by 5% for 2025-2026
By mid-2024, NorthStandard recorded 14 large claims exceeding $1m.
Tokio Marine Holdings raises full-year net income forecast by $258m
Its first-half net income surged 77% YoY.
APAC’s insurance third-party administrator market to reach $515b by 2030
Globally, it is seen to reach $515b by 2030.
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1. Chubb names ex-AIG exec to lead commercial P&C in APAC 2. How 56% of insurers plan to boost data analytics use 3. Prudential raises over $530m from ICICI Prudential AMC sale 4. Universal life insurance market to reach $132.3b by 2033 5. Cost and low awareness limit health and life insurance uptakeResource Center
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AI isn’t replacing insurance, it’s finally making it work