insurance
SME insurance is seen to reach $417b through 2032
SME insurance is seen to reach $417b through 2032
Smaller organisations lack the resources and experience to form a separate risk department.
China's personal insurance sector to grow 5% to 10% annually
Pension and health products are expected to account for 50% of the market by 2035.
Only 20% of insurers assess tech risks fully
50% of CROs are already using early-warning KPIs to monitor risks.
Asia leads in embedded insurance, set to reach $170b by 2030
70% of global losses between 2016 and 2023 from natural disasters are uninsured.
Taiwan insurance sector profits rise to $9.8b, up 3.5% YoY in September
Both life and non-life sectors recorded double-digit growth.
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.
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.
K-pop craze may spur demand for Income Insurance’s hourly travel cover
The Singaporean insurer is targeting spontaneous travellers who love concerts.
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.
Asia’s business insolvencies to rise by 3% in 2024
If excluding China, it could rise by 8%.
Only 28% of APAC insurers prepared for AI shift
Half of insurers attribute poor customer experience to limited technology adoption.
India launches pension system for all ages, infancy to 70
NPS Vatsalya allows accounts to be opened for children.
Will low premiums persist in offshore energy insurance?
Neither frequency nor severity of claims significantly impacted market capacity.
Insurance scrutiny intensifies on coal, wildfire risks
However, power Industry business interruption sectors see improved pricing.
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