The number of millionaires in mainland China in US-dollar terms was 6.01m in 2023, making it the market with the second most number of millionaires among 56 markets studied, according to the "Global Wealth Report 2024" by Swiss investment bank and financial services company UBS.
More than half of Hong Kong employees (52%) are struggling with their finances, according to the new survey by WTW, a leading global advisory, broking and solutions company.
There is good potential for the growing institutional and private wealth investor base in Asia, including Singapore, to invest in insurance linked securities (ILS), according to Mr Lim Cheng Khai, executive director of the Financial Markets Development Department of the Monetary Authority of Singapore (MAS).
The life insurance market in Taiwan is navigating several developments including the adoption of localised Insurance Capital Standards (TW-ICS) and International Financial Reporting Standard 17 (IFRS17) in 2016, and the pressure to raise additional capital of around NT$100bn ($3.1bn) to meet solvency rules.
The number of family offices in China has been growing, with insurance companies being relatively new players in the market.
The National Health Insurance Company - Daman, part of PureHealth, the largest integrated healthcare platform in the Middle East, has launched its first non-health insurance product, The Daman Gratuity and Employee Benefits (GEB) Trust.
Even if CO2 emissions were to be drastically cut down starting today, the world economy is already committed to an income reduction of 19 % until 2050 due to climate change according to a new study published in scientific journal Nature.
One of Singapore's leading life insurers, AIA Singapore, yesterday launched AIA Wealth Centre, dedicated to serving regional and domestic affluent and high-net-worth (HNW) individuals and families.
Nearly three quarter of insurers are investing in private markets or plan to do so as firms put excess cash to work according to a global survey.
Aon has appointed Mr Rishi Mehra as head of India. In his new role, he will bring capabilities across risk, health, wealth and talent consulting together under a model. The model will bring expertise and solutions to clients across India. He will also be involved in the integration of Global Insurance Brokers.