The Insurance Association of China (IAC) has released the "2023 China Insurance Industry Social Responsibility Report". This is the fifth consecutive edition of the report, setting out how the insurance industry has been fulfilling social responsibilities.
China's mortality protection gap narrowed by 6% year on year to $73.6bn in 2023, raising the country's resilience index to 38.3% from 36.0% in 2022, says Swiss Re Institute (SRI).
The Property and Casualty Insurance Department of the National Financial Regulatory Administration (NFRA) issued a notice directing insurers to carry out a self-examination of short-term health insurance business by 31 August 2024.
China's five major 'A'-share listed insurance companies have announced their proposed dividend distribution for 2023 would amount to CNY75.52bn ($10.4bn) combined.
Insurance companies and banks are looking for more guidance from the industry regulator on bancassurance operations following the issuance of new regulations.
Nan Shan Life Insurance, the third biggest life insurer in Taiwan, suffered from a negative spread between investment yields and cost of liability over the past few years, driven by the high burden from saving-type policies it had sold in the past with high guarantee rates, says Fitch Ratings.
Prudence Foundation, the community investment arm of Prudential plc in Asia and Africa, and Warner Bros. Discovery in Asia Pacific (WBD), are collaborating on a content series called Decode with Prudence, to help educate audiences on the planet, human lives and their livelihood.
When it comes to capital optimisation, Aon strategy and technology group global CEO Sherif Zakhary said, each insurer would have "a different parameter for success".
Hong Kong's FTLife Insurance Company has rebranded itself to Chow Tai Fook Life Insurance Company (CTF Life) to leverage the resources of its parent company Chow Tai Fook Group and provide quality lifestyle experiences and create value beyond insurance.
HSBC has appointed Ms Daisy Tsang as CEO of HSBC Life Hong Kong, effective 1 August 2024 and subject to regulatory approval. HSBC Life Hong Kong refers to HSBC Insurance (Asia) Limited and HSBC Life (International) Limited.