HSBC completes AXA Singapore's post-acquisition integration

...Life Singapore is a key step in achieving HSBC's ambition of becoming a leading wealth manager in Asia and serving customers’ health and wealth needs. “Singapore’s Ind...

Indonesia: 15 companies receive laurels as the strongest in conventional life insurance sector

...life insurance companies are seen as resilient in facing the potential for recession, hyperinflation, and global stagflation this year. which can have an impact on the Indonesian economy and soc...

India: Insurer launches Sustainable Equity Fund

...life insurer. ...

China: PICC Re's profitability improves on tighter risk selection

...-life insurer in China, with historical loss data and low acquisition costs. In addition, the reinsurer shares the strong brand name and risk management expertise of PICC Group, which will facilitate...

India: Finance Minister says insurance penetration will be unaffected by proposed tax on high-premium policies

...Finance Minister Nirmala Sitharaman has said that the Budget proposal to remove tax benefits for income from high-value insurance policies will not impact insurance penetration in India....

Challenges and opportunities in Tunisian insurance

...life insurance obtained approval in 2020, namely Lloyd Vie, a subsidiary of Lloyd Tunisien and UIB Assurances backed by the Société Générale Group. Remember that the minim...

The actuarial initiative: A marathon, not a sprint

...oliferation of customer-specific roles at the strategic level which signals positive awareness of the importance of customer service.   For its part, BIBF is launching...

Increased competition amid stable growth

...life insurers continue to experience steady growth in premiums but are operating in an increasingly competitive market. They also face challenges preparing for IFRS17. Middle East Insurance...

Life insurance sales tipped to improve in 2023

...life insurance sector, the launch of personal pension business, and improvement in real estate risks. A report by Zheshang Securities says that it is expected that not only the sales of cur...

Insurance industry grows by 4.6% to almost US$700bn in 2022

South Korea: 2023 set to be a transformative year for insurers

...life insurers, the accounting transition will still be important for all insurers across the board, Korean Re says. ...

Reinsurance: Hannover Re expects group net income to increase to at least US$1.86bn in 2023

...life and health reinsurance was clearly above expectations and the previous year’s result, despite further losses associated with the pandemic. ...

India: Union Budget to cap tax exemption on life insurance maturity benefits

...Life Insurance, told The Economic Times, "This proposal is likely to dent the sales...

India: Pandemic boosts non-life sector

...Life insurance penetration in the country was at 3.2% in 2021, almost twice that of other emerging markets and slightly above the global average. The demand for health insurance coverage in...

Trauma of extreme weather events affects our brains

...life-threatening events like wildfires. She said, in her previous research studies her team showed that in the aftermath of the 2018 fire that destroyed the town of Paradise in California,...

Taiwan: Over 80% of workers lack a retirement plan

...Nearly nine in 10 (86.2%) of respondents to an annual poll do not have any retirement plans, according to the survey findings released by the Ministry of Labour (MOL) yesterday....

India: Insurance penetration boosted by government programmes

...life insurance products sold in India are savings-linked, with just a small protection component. Hence, households remain exposed to a significant financing gap in the event of the premature death o...

Malaysia: Zurich introduces medical riders to provide accessible health services

...lifestyles by rewarding customers with up to 30% savings in cost of insurance if no claims are made. In addition, it has a built-in ‘inflation shield’ to address medical inflation concern...

Malaysia: Tune Protect Life introduces insurance for SMEs

...Life is introducing SME EZY – an affordable, comprehensive medical and life employee benefits insurance plan for employees of SMEs with a workforce of five to 250 people, which can also be exte...

Vietnam: Government intent on developing safe, sustainable, insurance market

...-life insurers, one foreign insurer’s branch; 19 life insurance businesses, two reinsurers, and 26 insurance brokerages.   The ministry said that the institution...

The Geneva Association - The return of inflation: What it means for insurance

...-life insurers’ earnings is negative, primarily through rising future claims costs on current insurance policies, the need to bolster loss reserves and, in case of stagflation, reduced demand. T...

A trailblazer in Indian insurance education

...life and health insurance in India through digital ecosystems’, ‘Challenges in dealing with health insurance in modern times’, ‘Challenges in marketing insurance’, the n...

Health insurance is adapting to consumer needs

...life.   “Currently insurance products in Korea do not cover mental illness. This trend could impact existing policies if a mental health crisis leads a policyho...

General insurers on strong technical ground

...life industry in 2022 witnessed a major turnaround in its technical results after years of underwriting losses. We spoke to General Insurance Association of Korea...

Digital disruption of the life insurance industry

...life and health industry as we continue to explore new ways of working,” he said. ...

China reopens borders - a double-edged sword

...life insurance industry recover from two consecutive years of decline in 2021 and 2022. The life insurance industry is estimated to record a CAGR of 3.5% in direct written premiums, increasing from H...

Korea's life insurance business outperformed by non-life

...-life insurance market has demonstrated greater resilience compared to life business amid a challenging economic environment and surpassed the life segment in terms of premium income in the first half...

Bahrain's listed insurers continue to drive industry growth

...-life segment, which constitutes around 84% of the market premiums. In 1H2022, non-life GWP rose 9.1% to BHD123.5m, boosted by growth in all sub-segments. On the other hand, gross premiums from the li...

China's reopening

...life and health insurance industry swiftly decided to withdraw low-cost policies that had been implemented during the early stages of the pandemic. Insurers were worried that they could be exposed to...

Australia: Financial advice has big impact on subjective financial well-being - AIA research

...life.  In addition, by harnessing science-based design principles, the impact of population-based health promotion and prevention has the potential to change more health and well-being...

India: LIC to review Adani Group's response to allegations of stock manipulation

...State-run Life Insurance Corporation (LIC), India's largest insurer, is reviewing Adani Group's response to scathing criticism by a US short-seller and will hold talks with the group's management within days, reported Reuters....

Vietnam: Third-party liability motorcycle insurance to stay compulsory, says Finance Ministry

...life and property.  ...

South Africa: Old Mutual to go digital with CoverGo in 13 markets across the continent

...Life, and many others.   “As a pan-African Insurance provide...

India: Poll respondents seek higher rebate on health insurance premiums

...With rising healthcare costs, compounded by rising inflation concerns impacting household incomes, an increase in the rebate on health insurance premiums is the next big ask among the respondents (45%) to the second edition of the India Union Budget Survey....

Macau: Prudential opens branch to widen Greater Bay Area reach

...life and health insurance solutions in Macau through its digitally-enhanced agency force. These solutions include multi-currency options to meet customer needs in savings, healthcare and protection....

Turkiye: Medical inflation continues to pressure health insurance business

...life branch are based on assumptions based on loss volume and frequency, as well as developments in previous years, Mr Benli said. ...

India: $25bn retail health insurance market by 2028

...-life insurance segment in the financial year 2021-22.  Around 45% of India’s relevant population is devoid of any health coverage and this segment is expected to be the leader among other...

Taiwan: Health insurance scheme expands coverage of robotic surgical system

...Starting on 1 March 2023, Taiwan's National Health Insurance (NHI) will cover procedures performed by the robotic surgical system, Da Vinci Surgical Systems....

India: Retail health insurance premiums forecast to jump by 5.3x to US$25bn by FY2027

...life insurance or general insurance space. Mr Anshul Agarwal, managing director and co-head - con...

South Korea: Pet insurance market becomes more competitive

...The latest trends in the Korean pet insurance industry are long-term insurance plans and sales in offline channels, says Shim Jun-won, CEO of Petfins, a local pet insurer....

Australia: Financial retirement plans change in last 2 years of turmoil

...With turnover in the workforce and changing patterns of work in a number of industries, a global retirement survey for State Street Global Advisors asked respondents whether they have changed their thinking on when, and how, they might retire....

India: Financial protection levels increase steadily

...Life Insurance, was conducted among 3,500 respondents in India’s top 25 cities, report...

China: Regulations awaited on insurance after-sales service centres in Greater Bay Area

...life insurance policies. In the latest survey by the Insurance Authority, 81% of Hong Kong's visitors from January to September 2022 were comprised of MCVs, leading to a 150% increase in new busi...

Hong Kong: Life insurers lead in Hong Kong Business Insurance Rankings

...life insurers made it onto the top 50 list, compared to 20 general insurers. This is different from the previous rankings when the top 50 list had an equal number of life and general insurers....

Ghana: Insurance professionals voice objections to government debt exchange programme

...(life and non-life) pay over GHS4.3mn worth of claims to companies and individuals on a daily basis. This also would be lost. Note that these figures do not include pensions, health and securities, th...

China: Unified pension management system ensures more equity

...More Chinese people have access to coverage provided by the country's government-run basic old-age insurance, since the adoption of unified management of insurance funds, according to the authorities....

Japan: Insurance giant's in-force business to support core operating profit over the long term

...life insurance companies, with a market share of approximately 19% in terms of premium income. The company’s sales representative base remains strong, and it is making efforts to diversify its...

Vietnam: Insurance regulator pledges to continue with supporting policies to help insurers

...life insurance and health insurance has increased significantly over the past years and especially during the COVID-19 pandemic. People are therefore more proactive and earlier in accessing and parti...

India: Insurance sector needs capital injection of US$6bn yearly to double the penetration rate

...life insurers and 16% for non-life, reported Press Trust of India. In the case of the top five insurance companies, the RoE is as high as 20%. Mr Panda said that the IRDAI's target is t...

Turkiye: AXA acquires life and non-life insurance operations of Groupama to expand Turkish footprint

...life and accident insurance. The deal is subject to the approval of the Insurance and Private Pensions Supervision Agency (SEDDK) and the Competition Authority....