Insurance
APAC insurers increase cybersecurity investments by 48%
APAC insurers increase cybersecurity investments by 48%
Insurance premiums for cyber policies rose by 70% from 2020 to 2022.
Construction insurance sector set for growth with energy, utility projects
Energy and infrastructure projects are expected to climb 7.8% and 5.1%, accordingly.
Zurich partners with Tesla in Australia as it rides EV trend
The Swiss insurer is simplifying coverage to help cut the cost of buying an electric car.
Global insurance M&A hits 15-year low in volume
The region’s deal volumes also fell by 20.7% YoY.
Reinsurers hit record $695b capital in June 2024
However, Aon predicts more pricing competition in 2025 for insurers.
Regulator pushes for mergers in Indonesia amidst premium stagnation
Insurance penetration in Indonesia has declined to 2.64% in 2023.
Insured losses from NatCat surge to $151b, fueled by urban growth
The five-year average annual loss is at $106b.
China motor insurance market to rise 5.2% this year
New energy vehicles are gaining traction in China’s vehicle market.
South Korea’s insurers bag $7b in earnings for H1 2024
This was equivalent to a 2.8% YoY rise.
Hong Kong’s insurance premiums climb 5.1% YoY in H1 2024
Both long-term and general business recorded YoY growths.
Asian insurers shift to private credit amidst new RBC rule
APAC insurers allocate an average of 6.4% of their portfolios to illiquid credit.
Taiwan insurers' earnings doubled to $10b in July
Both its life and non-life segments witnessed triple-digit growth.
China expands medical insurance to over 72% of village clinics
It aims to cover 100% of rural villages by the end of 2024.
Asians spend 30 times less on insurance than Americans
Despite major markets like China and Japan, per capita spending remains modest.
What will drive India’s general insurance sector this year?
The industry is slated to grow by 11.2% this year.
Home insurance affordability worsens across Australia
Affordability stress has surged by 30% over the past year.
Pet insurance market slated for 8.1% CAGR by 2032
Several insurance companies now offer multi-pet insurance policies.
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