China Life sets up US$1.4bn fund in Chongqing for silver economy

...Life Private Equity Investment, a wholly-owned private equity (PE) subsidiary of China Life’s investment arm, is managing the fund as its general partner. Several other insurers are reported to...

Regulator wants insurers and banks to do more in 5 pillar areas

India: General insurance industry to reach US$57.3bn by 2028

...India's general insurance industry is set to grow at a compound annual growth rate (CAGR) of 9.9% from INR3.35tn ($40.36bn) in 2024 to INR4.89tn ($57.3bn) in 2028, in terms of gross written premiums (GWP), forecasts data and analytics company GlobalData....

Japan: Nippon Life buys stake in US retirement solutions company as part of 2024-26 business plan

...Life is also establishing a strategic partnership with the two companies through the acquisition to enhance the value of Corebridge. The purchase will be paid for in cash....

China: Cash-strapped property developer surrenders stake in life insurer

...Life, representing a shareholding ratio of 11.51%....

India: Health plans with maternity benefits gain popularity

...The sale of health insurance policies with maternity benefits is growing at 80% annually, according to data from Insurtech platform company, PolicyBazaar....

Singapore: Singlife breaks new ground with dementia insurance

...life signed a memorandum of understanding (MoU) with Dementia Singapore, an organisation dedicated to supporting those affected by dementia through care services, advocacy, and training....

MENA: Digital life insurer HAYAH shares insights into regional insurance developments

...life insurance contributes only 3.51% to the Arab market. Lebanon contributes 16.43% to the Arab life insurance market, even though it represents only about 4% of the Arab insurance market....

Saudi Arabia: Wataniya shows strong financial performance

...life insurance lines. Wataniya's gross written premiums (GWP) grew 56% in 2023 to SAR1.6bn and Fitch estimates the insurer's market share to have exceeded 2% in 2023....

India: Hinduja Group moves closer to acquiring Reliance Capital's insurance units

...Life, General & Health), Alternate Investment Funds, securities trading, asset reconstruction, etc.”...

Singapore: Life insurance industry sees 32.2% surge in new business in 1Q

...Life & Health) by weighted premiums...

Qatar: Listed insurers post small increase in combined net profits in 1Q

...Life and Health Insurance, Qatar General Insurance and Reinsurance (QGIR), Qatar Islamic Insurance, Damaan Islamic Insurance (Beema) and Al Khaleej Takaful Insurance....

Taiwan: Life insurer's underwriting profitability expected to be stable

...Life's profitability recovered in 2023 on its steady underwriting performance and the cessation of operating losses previously incurred from its equity investment in CTBC Insurance. Taiwan Life&#...

Asia: RGA aims for more growth in the region

...life cover in mainland China also represented big potential for RGA in the region. To read the full text published by Commercial Risk...

Malaysia: General insurance industry expected to rebound

...Growth in Malaysia's general insurance market is expected to rebound in 2024, said data and analytics company GlobalData....

India: Regulator sets out methodology for insurers to provide minimum rural-sector coverage

...Life Insurers In life insurance, all companies should insure the minimum percentage of lives in accordanc...

Australia: Consumer superannuation group says funds have to pull up their socks to protect subscribers

...Super Consumers Australia, an independent superannuation consumer advocacy organisation, urges financial advisers and superannuation funds to urgently lift their game to protect Australians' retirement savings from dodgy advice....

Japan: Asahi Mutual Life's underwriting profitability expected to rebound

...Life's Insurer Financial Strength (IFS) Rating at 'A-' (Strong) and Long-Term Issuer Default Rating at 'BBB+'. The outlook is ‘Stable’. The agency has also affirmed th...

Singapore: OCBC offers $1bn for remaining stake in Great Eastern held by other parties

...life insurance group in Singapore and Malaysia....

Asia: Sun Life unveils new critical illness protection plans

...life protection plan, providing comprehensive critical illness coverage at various stages. Each of the three plans is desi...

Taiwan: Insurance industry turns around 1Q financial results

...life insurers amounted to NT$96bn,increasing by NT$122.3bn, or 465% compared to...

India: Life insurance industry to surpass US$216bn by 2028, forecasts GlobalData

...life insurance industry is expected to regain momentum in 2024 due to the increase in demand for traditional life insurance policies. Additionally, new regulations emphasi...

Singapore: Insurers given option to form appeal panel to deal with coverage for the disabled

...Life Insurance Association Singapore (LIA) issued the LIA Guide to Medical Underwriting for Life Insurance to help consumers better understand how an insurer evaluates an insurance application based...

India: Health insurance premium rates rise by up to 50% in past year

...More than half (52%) of the respondents to a survey say that their personal health insurance premiums increased by over 25% in the last 12 months....

South Korea: Protection focus and prudent investments support stable life insurance outlook

...Life insurers' capitalisation will be adversely affected by adjustments of economic assumptions that lower discount rates. Still, most life insurers' solvency under the K-ICS will remain arou...

New Zealand: Fidelity Life waives first three months' premiums for new policyholders

...Life, said this initiative is part of the insurer’s commitment to enhancing the value provided to both advisers and their clients. ...

Climate change creates a 'cocktail' of serious health hazards

...life years are lost annually due to the 22.87m occupational injuries, which are attributable to excessive heat. This is not to mention the 26.2m people worldwide living with chronic kidney disease li...

Nepal: World Bank approves $80m facility to strengthen insurance and financial services

...The World Bank's board of executive directors has approved an $80m development policy credit for Nepal to strengthen the stability of the financial sector, including the insurance industry....

Singapore: Life insurance body launches enhanced protection gap calculator

...The Life Insurance Association, Singapore (LIA Singapore) has announced the launch of its enhanced protection gap calculator....

Asia-Pacific: Hannover Re derives nearly 20% of gross reinsurance revenue from the region in 2023

...life and life branches of business:...

India: Survey shows preference for regular-income retirement products

...Life Insurance - “Is India Prepared for Retirement?”...

Events

...life and health, retirement and social insurance. Seasoned speakers and experts will share their professional insight about the future of the industry....

Insurers disasters

...life and health insurers and Lloyd’s of London managing agents. The insurers in each of the three business categories are rated from best to worst scoring them across 30 main standards....

Qatar: Listed insurers show mixed financial performance in 2023

...Life and Health Insurance, Qatar General Insurance and Reinsurance (QGIR), Qatar Islamic Insurance, Damaan Islamic Insurance and Al Khaleej Takaful Insurance.   QIC t...

Wearables help health insurers deliver better

...lifestyle and health insurers bring down claims ratios. Several countries in the Middle East are now adopting smart healthcare technology solutions. Middle East Insurance Review looks on thi...

Lebanon struggles to grow amid economic crisis

...life premiums surging to LBP2.06tn, led by health and motor insurance. By Reva Ganesan    ...

Lebanon: New regulations needed for stability

...-life insurance industry, growth in 2023 was primarily driven by health insurance, especially in the group segment and motor insurance,” Mr Ghanem said.   He als...

Lebanon's general insurers stay resilient despite market gloom

...life insurance industry remains active amid the tough environment, demonstrating resilience in adapting to conditions of instability. We spoke to Arope Insurance...

Life (insurance) during wartime

...life insurance market – and 2024 doesn’t look like it is going to offer much respite. By Paul McNamara  ...

Opportunities abound for Malaysian takaful

...(life/motor/health/retail lines) could be best targeted to achieve wider penetration of takaful insurance in Malaysia, Ms Queen said, “To achieve wider penetration of takaful insurance in Malays...

Accelerating InsurTech adoption in Saudi Arabia

...-Life Program’.   Through the agreement, Najm seeks to keep up with the latest technologies and innovations, provide modern solutions that meet the insurance sec...

View from India - India's insurance regulatory framework overhauled

...Life Insurance Council and General Insurance Council constituted a committee to review the entire insurance regulatory framework and recommend principle-based regulations.”  ...

Insurance as main driver of Algeria's economic development

...life and non-life. We caught up with Conseil National des Assurance’s Mr Laaziz Faid to d...

Turkiye: Insurers aim to improve penetration rate to 3%

...life, and...

Philippines: Microinsurers see strong growth in 2023

...life and non-life insurance companies, says the industry regulator in a statement....

India: Health, inflation and spouse well-being cited as retirement concerns

...Indians have a realistic approach towards retirement in that while they view retirement positively, they do have a few anxieties about retirement as well, according to an ICICI Prudential Life Insurance study, titled "Is India Prepared for Retirement?"....

Hong Kong: Renewed optimism in life insurance sector

...life insurers, BMI says that this rebound is reflected in the impressive growth figures reported by large insurers such as AIA, Prudential plc, and FWD Group....

Turkiye: Insurers aim to improve penetration rate to 3%

...life, and...

Motor insurance branch continues to lose market share in 1Q2024

...life insurance business slowed to 5.1% in 1Q2024, compared to a robust 10% in 1Q2023....

PICC Group's 1Q profits dragged down by lower investment income & higher insurance costs

...Life and PICC Health....