Insurance
Asia’s commercial insurance rates dip 4% in Q3 2024
Asia’s commercial insurance rates dip 4% in Q3 2024
Global commercial insurance rates fell by 1% in Q3 2024.
Over half of insurers penalised for errors
58% of respondents said it takes over five months to implement a rule change.
Global Reinsurers’ ROE surpasses cost of equity in 2023
ROE of reinsurers reached 22% last year.
Malaysia’s life insurance market to hit $17.2b by 2028
Endowment insurance is projected to represent 77.3% of total DWP.
RBC rules may shift Hong Kong insurers to bonds: Aviva Investors
Singapore’s asset growth in 2019 and 2022 could spark promise for Hong Kong.
Aussie insurers to slash costs by 30% with tech revama
Insurers’ operating costs have surged—20% for incumbents.
Climate change renders Australian home insurance unaffordable
Surge in claims led to an average home insurance premium increase of at least 14%.
K-pop craze may spur demand for Income Insurance’s hourly travel cover
The Singaporean insurer is targeting spontaneous travellers who love concerts.
Generative AI slashes P&C claim times by 50% – Bain & Co.
It could also decrease loss-adjusting costs by 20% to 25%.
Philippine life insurance sector slated for 5.4% CAGR by 2028
The industry will likely increase by 3% this year.
Property insurance industry to exceed $152b by 2028
China is forecast to lead with 36% in terms of written premiums.
Australians can save $948 annually with pet insurance: Mozo
Rottweiler owners could save the most by as much as $1,959 per year.
HSBC Life to keep using tech to stay on top in Hong Kong
The life insurer wants to offer solutions beyond traditional products, its CEO says.
2024 insured losses exceed decade average at $108b
Total economic losses for the first three quarters reached ~$280b.
Taiwan insurers to raise fresh equity amidst new capital requirement
The new standard also raised compliance risks for insurers.
APAC reinsurance market sees stable pricing in 2024
Although, extreme weather and NatCats could disrupt current pricing stability.
Asia’s business insolvencies to rise by 3% in 2024
If excluding China, it could rise by 8%.
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