Life insurance premiums in emerging markets, including those in Asia, will grow by 7.2% in real terms in 2024, with just 1.5% aggregate growth in advanced markets, says Swiss Re Institute (SRI).
Asia as a whole, including Australia and New Zealand, accounted for 24.5% of global premium volume in 2023 (2022: 25.5%), says Swiss Re Institute (SRI) in its report titled "World insurance: strengthening global resilience with a new lease of life", released yesterday.
Tokio Marine Life Insurance Singapore Ltd (TMLS) has launched a financial advisory subsidiary, Tokio Marine Financial Advisers (Singapore) Private Limited (TMFAS), through which it plans to deliver a comprehensive range of financial planning and wealth management services to its clients.
Bupa has introduced an integrated cancer care support system: "Cancer Care" that supports patients who suspect or are given a positive cancer diagnosis to navigate the challenging world of cancer care with more clarity and support.
Prudential plc has announced the appointment of Pankaj Banerjee as group chief agency officer. He will take up the role on 30 September 2024 and report to Lilian Ng, managing director, strategic business group.
India's top life insurer, Life Insurance Corporation of India (LIC) has partnered with strategy consultant A T Kearney to undertake an agency transformation project aimed at future-proofing its 1.4m agents to meet the rapidly evolving needs of customers.
AIA has announced a new agreement with BlackRock and BNY, as it looks to transforms its investment platform, to support the group's long-term investment programme.
Financial services agency, Terence Lau & Associates (TLA), plans to increase the size of its organisation in Singapore to meet the growing needs of the market.
India's life insurance sector saw a 14.8% y-o-y increase in premiums in June 2024, reaching INR42,434 crore ($5bn), with significant improvements in both premium collections and policy issuances. The performance highlights a strong and growing demand for life insurance in India.
Pru Life UK won the International Life Insurer of the Year- Philippines award for the fourth consecutive year at the Insurance Asia Awards 2024.