Jobs for life
SIRC Connect
Smoother renewal period spells good news for industry
General
Rising claims for high-net-worth insurance products
Boosting insurance and takaful in Pakistan
Japan's 2024 earthquake losses expected to reach $3.3bn
Investment-linked insurance policies in Singapore
Hong Kong: Meeting mainland Chinese consumer expectations vital
Surge in demand for EV insurance in Singapore
Parametric insurance still nascent in Southeast Asia
Life & health
Health insurers review to manage rocketing medical inflation
View from India - India needs digitally-empowered agents
From protection to prevention - driving down costs of critical illness
Philippines
Less volatility expected in Philippine reinsurance market
Financial literacy and digitalisation should improve insurance density and penetration
New indemnity programme to cover public assets
Philippines life shows resilient growth
Transactional business models no longer sustainable
Asian broker market continues to mature despite pressures
A vibrant InsurTech market down under
China's first wholly foreign-owned P&C insurer
Huiminbao: Falling numbers spur reforms
This is India's time for insurance growth
Winning at IFRS17
Engineering out data centre risk to boost sustainability
AI can breathe new life into Singapore insurance
Claiming a critical role in insurance
Asian
Asia Pacific and Africa: Small fraction of disaster losses in 2023 are insured
Australia: Major insurer places $7bn catastrophe reinsurance programme
South Korea: Insurance market expected to rebound in 2024
Risk
Forests in Southeast Asia can weather climate change better if left undisturbed
Risks, regulation in focus as AI boom accelerates
Supply chain biggest challenge for cyber security
Zuno General Insurance launch customisable health insurance plan
AIA Singapore launches booster CI coverage
Indonesian FinTech launches pioneering insurance cover
AIA launches new product offering high returns and extra flexibility
AXA Insurance Indonesia launches SmartMedicare
People on the move
CHINA
INSURANCE - Life & health
Medical costs in the Asia-Pacific region are expected to rise further in 2024. There is also an increase in non-communicable diseases and a large critical illness gap in many markets.
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MARKET PROFILE - Philippines
The reinsurance sector in the Philippines continues to face significant vulnerability to the impacts of natural catastrophes, including those linked to climate change.
NOTEBOOK
No country was faster to implement the IFRS17 accounting standard than South Korea.
With the great change that constantly sweeps through the financial services world – uncertain interest rates one minute, generative AI the next – it can be easy to overlook the effect such a dynamic environment has on human resources.
In spite of the anxiety expressed at the SIRC last year about the possibility of turbulence during the January renewal period, it turned out to be a much smoother process when compared to the prior year, as the (re)insurance industry managed to...
Increasing demand for high-net-worth insurance products has led to a spike in claims in recent years. Risks associated with assets such as yacths, art and jewellery collections are also evolving due to widespread digitalisation.
Pakistan’s insurance sector has remained largely ignored for some time. It is mentioned as an afterthought despite playing an imperative role for individuals and corporates in the development of economy by protecting life.
On 1 January, a 7.6 magnitude earthquake rattled the Ishikawa prefecture in Japan, resulting in an estimated economic loss of $5.6bn and insurance industry loss of $6.4bn. Insured property losses are projected to reach $3.3bn.
The Philippines insurance market saw good growth due to higher premiums, but still struggles with closing the protection gap.
Traditionally, public assets in countries have remained out of the ambit of insurance. With increasing regularity and intensity of natural catastrophes, nations are now working out insurance programmes for public assets.
With the hard market predicted to continue, brokers are adapting to stiff competition. To remain competitive, brokers are developing employee skills to ensure that duties can be performed to the highest standards.
Speakers at the 69th Worldwide Broker Network global conference discussed topics and trends in the brokerage industry.
We caught up with Insurtech Australia’s Ms Simone Dossetor for a peek at how the sector is looking in 2024.
We explore the changing attitudes of the Chinese market towards foreign investment, as well as the allure of the Chinese market for foreign insurers.
As the numbers enrolled in China’s basic state governed health insurance scheme continue to drop, the reforms initiated in the Huiminbao supplementary health cover appear to be a measure to stop the rot so that the dwindling numbers...
The 17th India Rendezvous took place in January and saw some 800 delegates from 42 countries make their way to India’s shores. This year showcased the interest that the global insurance industry has in the world’s most populous nation.
Knowing where and how businesses are most vulnerable can help data centre operators direct the appropriate financial and technical resources to where they are needed.
Losses from natural disasters in the Asia-Pacific and Africa region totalled $64bn in 2023, slightly lower than the $66bn seen in the previous year, said Munich Re. Approximately $8bn of the $64bn was insured (2022: $11bn).
IAG has placed its catastrophe reinsurance programme for the 2024 calendar year.
The insurance market in Korea is forecast to rebound in 2024, with an expected growth rate of 2.6%, following a period of negative growth in 2023, said Korean Re in a blog posted on its website.
India’s Zuno General Insurance has launched its new Zuno HealthPlus policy offers individuals and families specialised coverage and benefits at an affordable rate.
Indonesian peer-to-peer FinTech JULO has introduced a pioneering insurance cover, which aims to provide ongoing device protection to its users.