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Oct 2024

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Asian

China: Lawmakers review draft decision on gradually raising retirement age

The standing committee of China’s top legislative body, the National People’s Congress, earlier this week reviewed a draft decision of the Communist Party on gradually raising the statutory retirement age, the Xinhua News Agency reported.
 


Singapore: Hannover Re forecasts stable pricing for P&C treaty renewals at 1 Jan 2025

Global reinsurance giant, Hannover Re, anticipates prices and conditions to remain on a sustained stable level for treaty renewals in property and casualty reinsurance as at 1 January 2025 and anticipates a balance of supply and demand in most markets.
 


Asian

Singapore: 76% of executives believe existing cyber defences can avert cyber attacks

Beazley’s recent survey of 3,500 global business leaders has revealed that despite the growing risk landscape, only 24% of executives based in Singapore ranked cyber as their top risk this year.
 


South Korea: Higher number of accidents causes 40% plunge in auto insurers' 1H net profit

The combined net income of insurance companies that offer motor insurance reached KRW332.2bn ($248m) in the January-June period, down by 40.2% from KRW555.9bn for the corresponding period last year, according to the preliminary data from the Financial Supervisory Service (FSS).
 


Vietnam: Typhoon Yagi insurance claims reach trillions of dong

Insurance companies in Vietnam have received at least VND2.76tn ($112m) in claims to date for damages caused by typhoon Yagi which made landfall in Vietnam on 7 September.