At least 20 (re)insurers have failed somewhere in the world in every single year between 2000 and 2024, according to the third edition of the "Global Failed Insurer Catalogue" published by Property and Casualty Insurance Compensation Corporation (PACICC).
Today's insurance consumers are not only seeking more personalised and accessible insurance products, but they are also prioritising transparency and sustainability in their choices.
Foreign residents living in Japan for over three months and not covered under any health insurance scheme will now have to enrol in the country's health insurance programme, reported the Japan News.
The Saudi insurance industry has reported growth in total premium income for the first quarter of the year, while the net income saw a notable setback, according to the Insurance Authority's latest quarterly report.
The Algerian insurance market has posted total premium volume of DZD56.9bn ($439m) in 1Q2025, 13.3% higher than in the corresponding quarter in 2024, including international acceptances and retakaful, the National Insurance Council (CNA) indicated in its latest economic report.
HSBC Life has launched HSBC Aspire Prime Indexed Universal Life to cater to professional investors seeking flexible investment options, with downside protection features to support legacy planning.
AIA Life has appointed Mr Fisher Zhang as AIA Group regional chief executive for Korea, Mainland China and Vietnam, and chairman and non-executive director of AIA Life in Korea, as well as Mr Nathan Chuang as CEO for three years beginning 4 July 2025, a reappointment.
ABL Life Insurance has appointed Mr Kwag Hee-pil as CEO, according to news platform The Korea Times.
Sun Life Hong Kong has upgraded its flagship savings insurance products - SunJoy Global Insurance Plan II, SunGift Global Insurance Plan II, and Stellar Multi-Currency Insurance Plan II - with enhanced legacy planning and policy flexibility features.
The Insurance Regulatory and Promotion Commission (OIC) of Thailand in partnership with Thailand Development Research Institute (TDRI) will study and prepare a voluntary health insurance strategic plan aiming to build a strong health insurance system for the country.