insurance
Insurance third party administrators market to reach $501.93b by 2028
Major trends include blockchain integration and predictive analytics.
Australian insurers urged to adopt nature-positive practices
In December 2022, over 180 countries adopted the Global Biodiversity Framework.
India's non-life insurance sector dips 6.53% YoY in September
Year-to-date, the sector rose by 7.02%.
Quest Insurance to maintain strong capitalisation
However, future loss ratios are expected to rise.
Sumitomo Life strong despite investment pressures: Fitch Ratings
Its underwriting profitability recovered, with core profit margin at 12%.
Beneficial Insurance boasts 36.1% return on equity
Beneficial’s risk-adjusted capitalisation was strongest level as of 31 March.
Canara HSBC targets family security with new insurance plan
The plan comes in two variants.
Ardonagh merges PSC’s ANZ operations with Envest
This makes it one of the top privately owned insurance distribution companies in Australia.
Philippines’ insurance sector smaller than other financial services
The industry generated total revenues of $8.14b in 2022.
China Taiping set to maintain strong market position
The group reported $10.51b in outstanding debt as of June, down from $11.90b last year.
More than a third of consumers warm to AI in insurance claims
Markets like Australia showed the least enthusiasm.
Nat Re benefits from robust local insurer ties
In 2023, Nat Re saw a notable rise in net profit, driven by improved underwriting.
Samsung Fire & Marine holds robust balance sheet, leads in auto insurance
SFM maintains the highest regulatory solvency ratio amongst non-life insurers in South Korea
Vietnam-China talks aim for long-term elderly care solutions
Health insurance coverage in China has stabilised at above 97% of the population.
India launches pension system for all ages, infancy to 70
NPS Vatsalya allows accounts to be opened for children.
What two challenges impede the finance sector’s ESG goals?
Industry experts agreed that the sector must aim for objectives that extend beyond immediate business interests.
Thought Leadership Centre
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1. India's life insurance growth slows to 10.6% in October 2. South Korean insurers brace for profit squeeze amidst rate cuts 3. bolttech secures $50m venture debt from HSBC, expands market 4. Life insurance premiums forecast to grow by 3% yearly until 2026 5. Prudential launches AI lab in SingaporeResource Center
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Humans need to be in insurance’s genAI loop
![Humans need to be in insurance’s genAI loop]()
Insurance
Employees still need to interpret AI-generated data and make decisions to minimise risks.
Employees still need to interpret AI-generated data and make decisions to minimise risks.
