Insurance
How did Singapore’s life insurers fare in 2024?
How did Singapore’s life insurers fare in 2024?
The industry's growth was influenced by higher demand for annual premium products.
Commercial insurance rates dip 3% in Q4 2024
Financial and professional lines declined the fastest at 9%.
APAC insurers wary of geopolitical instability in next two years
Cyber threats, on the other hand, are a moderate to severe risk.
Etiqa launches Singapore’s first takaful insurance product in years
Demand for Islamic financial products from the Middle East and Southeast Asia is growing.
8 in 10 insurers plan to increase tech investment this year
36% of insurers prioritise AI and machine learning.
APAC's insured only 5.4% of $74b disaster losses: Aon
APAC was also the second-largest region in terms of economic losses.
Medical plan costs to rise by 11.1%: Aon
APAC is expected to experience the second-largestYoYr increase globally.
Only 9.1% of Asia's economic losses insured in 2024
The five-year average for insured losses was $11b.
APAC home insurance market to hit $82.4b by 2032
Globally, home insurance is seen to reach a CAGR of 7.3%.
Singapore's life insurers eye growth in 2025
The push for innovative healthcare solutions amidst medical inflation is a challenge.
India’s insurance penetration slumps to 3.7% in FY 23-24
Insurance density in India rose slightly, from $92 in FY 22-23 to $95 in FY 23-24.
Singapore’s personal accident, health insurance market to exceed $8b by 2029
PA&H insurance is forecast to rise 8.9% in 2024.
South Korean insurers bag $80b in premiums for H1 2024
Net income of all insurers for H1 2024 amounted to $6.49b.
Asia-Pacific insurers told to start targeting Gen Z
They are less aware about insurance products than Millenials.
SME insurance is seen to reach $417b through 2032
Smaller organisations lack the resources and experience to form a separate risk department.
Top 50 list shows recovery in Hong Kong’s insurance premiums
Only four segments in the top 10, all life insurers, posted growth in 2023.
Japan’s insurance sector sees stability amidst premium boom
Premium income has increased over the past two years.
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