Insurance
India's life insurance growth slows to 10.6% in October
India's life insurance growth slows to 10.6% in October
The industry is expected to grow by 1% to 13% over the next three to five years.
South Korean insurers brace for profit squeeze amidst rate cuts
Direct premiums from long-term products contributed to a 3.7% increase in 2023.
Taiwan insurance sector profits rise to $9.8b, up 3.5% YoY in September
Both life and non-life sectors recorded double-digit growth.
Japanese insurers double down on tech to weather disaster risks
Industry players are relying on data analytics to improve risk management.
Insurance firms lag in climate committees
Yet, 70% of firms view climate risk as central.
SG life sector’s weighted new business premiums surge 24% YoY in 9M 2024
Q3 2024’s weighted new business premiums grew by 18.2% YoY.
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.
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