...A magnitude 7.8 earthquake struck southern Turkiye, near the northern border of Syria. The death toll has exceeded 2,300 in Turkiye and Syria and over 2,850 buildings have been destroyed....
Source : AIRPlus | 07 Feb 2023...With APAC's exposure to extreme weather events leading to unsustainable natural hazard losses and high inflation worsening them, reinsurers in the region will face challenges in their growth in 2023....
Source : AIRPlus | 02 Feb 2023...Liberty Global Transaction Solutions (GTS) has launched its contingent legal risk insurance (CLRI) M&A product in the Asia-Pacific market....
Source : AIRPlus | 02 Feb 2023...In India, one in five health insurance policyholders is unaware of basic policy terms despite purchasing the policy on their own according to a new insurance literacy survey by ICICI Lombard Insurance....
Source : AIRPlus | 02 Feb 2023...Specific drivers will prevail in the insurance industry during 2023 and these will include ESG risks, geopolitics, technology change and claims inflation according to Kennedys, the global law firm in its annual forecast report for the insurance sector....
Source : AIRPlus | 01 Feb 2023...Government initiatives in the insurance sector and measures to improve financial inclusion have driven insurance adoption across segments in India according to the Economic Survey 2022-23 presented to the Indian parliament on 31 January 2023....
Source : AIRPlus | 01 Feb 2023...India's retail health insurance segment has the potential to become a $25bn market in the next five years according to a new research study....
Source : AIRPlus | 26 Jan 2023...Ping An Insurance (Group) Company of China has been ranked the world's most valuable insurance brand for the seventh year in the running by brand valuation consultancy Brand Finance....
Source : AIRPlus | 26 Jan 2023...Australia's terrorism reinsurance pool, administered by Australian Reinsurance Pool Corporation (ARPC), purchased its retrocession programme for the 2023 calendar year at the same terms and conditions as the previous 2022 programme....
Source : AIRPlus | 20 Jan 2023...Companies in Indonesia such as IKEA, Gojek and Shopee are customising insurance policies to suit the products they sell. It is made possible through developments in technology that have allowed them to collaborate with InsurTechs and underwriters to create policies for their customers....
Source : AIRPlus | 19 Jan 2023...Singlife has inked a memorandum of understanding with private cancer care provider Icon Cancer Centre Singapore in a bid to enhance access to affordable cancer treatment and patient care in Singapore. The partnership aims to reduce the burden of cancer for patients by leveraging technologies to connect a network of data and streamline the customer experience....
Source : AIRPlus | 19 Jan 2023...At the beginning of the year, the chairperson of the life insurance industry of Japan (LIAJ) Seiji Inagaki published a new year's message. In it, he emphasised the importance of the life insurance industry in a world still gripped by the pandemic and laid out plans for the coming year. The full message can be read below:...
Source : AIRPlus | 18 Jan 2023...The pandemic has helped in increasing the awareness of healthcare and health insurance in rural and semi urban areas of India and this is reflected in the better performance of the industry's rural health insurance portfolio over the years....
Source : AIRPlus | 18 Jan 2023...It is a point of satisfaction for the Indian insurance industry that complaints about mis-selling of insurance policies are now showing a downward trend....
Source : AIRPlus | 04 Jan 2023...India's first ever 'surety bond insurance' product is now available in the market. Developed by Bajaj Allianz General Insurance, the product was launched by Indian union minister of road transport and highways in December 2022....
Source : AIRPlus | 04 Jan 2023...New research by CoinJournal, a publication that focuses on cryptocurrency, looked at available data around major breaches and fraud since 2011 to reveal which Asian countries had experienced the most breaches and how crypto fraud has seen a record number of incidents in 2022....
Source : AIRPlus | 04 Jan 2023...In many parts of the world, women are in charge of purchasing insurance for their families, but the gender wealth and protection gap remains quite wide. It is a peculiar problem that insurers are trying to solve, and Continental Group's founder and managing director Ashok Sardana believes that the first step is awareness....
Source : AIRPlus | 04 Jan 2023...The Delhi High Court has directed the Insurance Regulatory and Development Authority of India (IRDAI) to call a meeting of all insurance companies to ensure that insurance products designed for persons with disabilities are made available at an early date so that they can obtain health insurance coverage....
Source : AIRPlus | 15 Dec 2022...Insurance consumers are now looking for the same convenience from their insurance companies as they are in other areas of their lives according to a new report published by Guidewire platform for general insurers....
Source : AIRPlus | 15 Dec 2022...ORX has launched a platform which brings together a new generation of risk management and data visualisation applications....
Source : AIRPlus | 12 Dec 2022...The mental health of around 4.43m adults in Taiwan was affected by the COVID-19 pandemic in 2022 according to a new survey conducted by the Mental Health Foundation of Taiwan....
Source : AIRPlus | 12 Dec 2022...Almost half (49%) of the Singaporean employees work remotely, blurring the lines between personal and professional life and thus expanding cyber attack surfaces massively according to the 2022 Singapore User Risk Report released by Proofpoint....
Source : AIRPlus | 12 Dec 2022...There has been a substantial increase in significant breaches of the general insurance code of practice according to the latest annual report of the Australian General Insurance Code Governance Committee (GICGC)....
Source : AIRPlus | 08 Dec 2022...Hong Kong is the top intended destination for mainland Chinese travellers who have endured nearly three years of restrictions and movement curbs according to a survey conducted by management consultants Oliver Wyman....
Source : AIRPlus | 08 Dec 2022...The 10th annual Regional Day of Service (RDS) was organised by insurer Chubb in early November across 10 markets in the Asia-Pacific region through outreach programmes that focused on meeting the essential needs of communities and increasing educational opportunities for underprivileged children....
Source : AIRPlus | 08 Dec 2022...A survey by InsurTech Acko and YouGov India on Indian motor vehicle consumers preferences has revealed that electric vehicles (EVs) will be the first choice for most and that the segment will surpass petrol and diesel cars by 2030....
Source : AIRPlus | 08 Dec 2022...S&P has placed Sumitomo Life's issue ratings on CreditWatch with negative implication, which implies a possible downgrade if the insurer's declining solvency ratio continues to worsen. S&P said this reflects a rising possibility of deferral of interest payments on subordinated notes. This deferral will be triggered by the insurer booking a regulatory solvency margin of less than 200%....
Source : AIRPlus | 06 Dec 2022...ICRISAT scientists have collaborated with the Asian Development Bank (ADB) to develop high-resolution spatial maps that enable cropland mapping for insurance claims and agriculture policy decision making on targeting regenerative agriculture....
Source : AIRPlus | 05 Dec 2022...Global marine insurance premiums in 2021 reached $33bn, up 6.4% on 2020, according to the International Union of Marine Insurers' (IUMI) latest stats report. Premiums have been lifted by increased global trade volumes, a stronger US dollar, increased offshore activity, higher vessel values and a reaction to deteriorating results in previous years. Insurers in Europe and Asia, in particular, saw premium growth....
Source : AIRPlus | 05 Dec 2022...While AI promises faster and smarter decision making, safeguards are needed to prevent potential discrimination according to the Australian Human Rights Commission (AHRC) and the Actuaries Institute of Australia....
Source : AIRPlus | 02 Dec 2022...In 2021 weather and water-related hazards caused total damage of $35.6bn in Asia. These climatic events affected nearly 50m people in the continent. During the year India suffered economic losses up to $3.2bn due to flooding....
Source : AIRPlus | 02 Dec 2022...The Insurance Authority (IA) released provisional statistics of the Hong Kong insurance industry for the first three quarters of 2022, showing a decrease of total gross premiums by 5.1% to HK$432.7bn ($55.4bn) over the corresponding period in 2021....
Source : AIRPlus | 01 Dec 2022...Interest in travel insurance kindled by the pandemic has sustained and travellers, both for international and domestic destinations, consider travel insurance as an essential part of their travel arrangements....
Source : AIRPlus | 01 Dec 2022...The general insurance industry in Singapore is set to grow at a CAGR of 7.2% from S$4.7bn ($3.5bn) in 2021 to S$6.6bn ($5.1bn) in 2026, in terms GWP according to an analysis by the data and analytics company GlobalData....
Source : AIRPlus | 01 Dec 2022...Singapore-based The Huntington Group (Huntington) has decided to acquire Futuready Thailand from Aegon. Following the transaction, Huntington and its affiliates will be Futuready Thailand's largest institutional shareholder....
Source : AIRPlus | 28 Nov 2022...Manulife IM had been granted approval to acquire 51% of shares in Manulife TEDA Fund Management, a joint venture with assets under management (AUM) of $12bn as of 30 June 2022. This makes it the first foreign wealth and asset manager to convert its joint venture into a wholly owned public fund management company in China....
Source : AIRPlus | 28 Nov 2022...Japan's MS&AD Insurance Group Holdings has decided to cut down its personnel costs and increase productivity by adopting relevant technology....
Source : AIRPlus | 24 Nov 2022...The Japanese insurers now offer insurance covers that pay out to companies if employees go on parental leave, eyeing growing demand for such services from employers grappling with the impact of more people, particularly men, taking time off....
Source : AIRPlus | 24 Nov 2022...Fire, collision and sinking, and damaged cargo are the top causes of marine insurance losses by value according to Allianz Global Corporate & Specialty's (AGCS) analysis of more than 240,000 claims worth EUR9.2bn in value....
Source : AIRPlus | 24 Nov 2022...A recent study has revealed that employers in Hong Kong are addressing the talent crunch challenge by focusing on retirement age and benefits for older workers....
Source : AIRPlus | 22 Nov 2022...QBE Asia has launched Premiums4Good, a global initiative that invests everyday premiums to make a difference to communities across the globe....
Source : AIRPlus | 04 Nov 2022...Drivers of commercial electric vehicles in Japan will soon have new insurance covers available for issues connected with their vehicles....
Source : AIRPlus | 03 Nov 2022...To ease the burden on country's working generations and to make its healthcare systems sustainable, Japan has proposed to raise the upper limit on health insurance premiums for high-income people aged 75 and above....
Source : AIRPlus | 03 Nov 2022...Hyundai Motor India (HMIL) has received approval for its subsidiary Hyundai India Insurance Broking (HIIBPL) to function as a direct general insurance broker....
Source : AIRPlus | 03 Nov 2022...The Malaysian insurance market faces a lack of awareness and understanding of personal protection products among its consumers. This has led to a significant number of working adults not setting aside money for personal protection....
Source : AIRPlus | 25 Oct 2022...Moneysmart's latest venture into the broker space, Bubblegum, hopes to break into other markets in Asia within the next five years according to head of insurance Dave Patil speaking to Asia Insurance Review. The personal finance online marketplace launched the broker in October as an insurance player in Singapore with a suite of car and travel products....
Source : AIRPlus | 25 Oct 2022...InsurTech DocDoc has collaborated with QBE Singapore to launch a differentiated group health insurance product, that aims to make obsolete legacy approaches through automation and personalisation....
Source : AIRPlus | 20 Oct 2022...According to a new blog by Travelers Insurance, while inflation can make life difficult for a business of any size, SMEs may feel the pressures most acutely. They are more apt to have fewer resources to sustain them as they face rising prices for everything from labour to materials....
Source : AIRPlus | 14 Oct 2022...For the third year in a row, global financial assets held by households grew by double-digits, according to Allianz....
Source : AIRPlus | 14 Oct 2022...A new cargo consortium launched at Lloyd's of London will provide the largest single cargo capacity in the market. Liberty Project Cargo Consortium (LPCC) 7763....
Source : AIRPlus | 13 Oct 2022