insurance
Asian insurers shift to private credit amidst new RBC rule
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.
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.
Philippine’s life sector net income jumps 22% in H1 2024
Total assets also increased by 6.86% YoY.
Southeast Asia’s insurtech sector hits $2.4b in 2023
It was mainly driven by Singlife’s merger with Aviva Singapore.
Life insurance reduces mortality risks in China
Still, the protection gap stood at $73.6b in 2023.
Nearly half of Hong Kong workers report mental strain, desire to leave
41% are planning to work from home to avoid workplace interactions.
SG's life insurance total weighted new business premiums surge 27% YoY in H1'24
Employment in the market was stable, a slight decrease of 0.5% versus last year.
Japanese insurers tighten underwriting amidst Q2 market challenges
This called for a careful evaluation of risk retention and risk transfer strategies, Aon said.
Asia’s Q2 insurance pricing stays flat
Overall capacity was sufficient but challenges persist in property and flood risks
Japan’s big-four insurers to raise fire insurance premiums 15%
The decision comes in the wake of failing profitability in the fire insurance market.
Top APAC insurers see market cap growth of Q2 2024
China Life Insurance led with a 9% growth during the period.
Aviation insurance to soar at a 20-year high in 2024
Collision and crash incidents account for 63% of claims in aviation insurance sector.
Insurtech funding in Q2 2024 highest in five quarters
Global funding bagged $1.27b.
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