insurance
Only 9.1% of Asia's economic losses insured in 2024
Only 9.1% of Asia's economic losses insured in 2024
The five-year average for insured losses was $11b.
52% of experts bleak about future amidst misinformation, weather risks
In the long-term, experts grow worrisome about environmental risks.
Insurers in ANZ leverage AI amidst tightening margin
Due to inflation, extreme weather events, and evolving consumer expectations.
Japanese trading house acquires 20% of Thaivivat Insurance
The transaction is expected to finish by February.
Meiji Yasuda rolls out 5% wage hike amidst inflation
This marks the 2nd consecutive year of wage hikes for its 11,000 internal staff.
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%.
Reinsurers face billions in California fire claims
Gallagher Re revised its insured losses estimation to $20b-$30b.
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.
Insurance operations complicated by foreign investment decline
The decline is mainly due to geopolitical tensions, COVID-19, and Russia-Ukraine war.
Pru Life UK, AAIIBP boost Islamic finance
It also partnered with Al Amanah Islamic Investment Bank to promote Islamic finance.
IRDAI reforms focus on modernising insurance oversight
The Regulatory Sandbox framework has also been updated.
Hong Kong insurance premiums surge 12.2% in 9M 2024
The period already shows signs of a rebound from the 1.1% fall in 2023.
Crawford & Company appoints new loss director for Malaysia
His expertise spans handling losses valued between RM20m and RM100m.
Chartered Insurance, Metis renew partnership to advance HK professionals
In 2024, Metis sponsored the Certified Insurance Professionals Induction Course.
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AI isn’t replacing insurance, it’s finally making it work