The life insurance sector in Singapore, which experienced a strong rebound in 2024, is poised to maintain its upward trajectory into 2025. With growing consumer interest in sustainable insurance products and ongoing advancements in digital transformation, the industry is well-positioned to meet emerging demands.
Australia minister for health and aged care Mark Butler has said the Australian government is committed to ensure that the health insurance members get value. He was addressing a press conference on 19 January 2025 and responding to a query about private health insurance in the country.
Nepalese prime minister KP Sharma Oli has asked the ministry of health and population to formulate on priority an action plan for reforms based on the report of the Health Insurance Reform Suggestion Task Force.
Manulife Asia has signed a three-year exclusive premier sponsorship agreement with the Million Dollar Round Table (MDRT), a global, independent association of the world's leading insurance and financial services professionals from 85 nations and territories and more than 700 companies.
Hong Kong life insurance sales in the first nine months of 2024 set a record mainly driven by local customers. According to Insurance Authority (IA) Hong Kong new life insurance sales in the January -September 2024 period were HKD169.7bn ($21.8bn), the highest since the authority was set up in 2016.
The current edition of Money & You report from the Financial Services Council (FSC) of New Zealand has revealed that the cost-of-living crisis is impacting New Zealanders choice to protect their health and life through insurance.
The Philippine Health Insurance Corporation (PhilHealth) continues to be in sound financial position despite being given zero subsidies for 2025.
On 10 January, the Insurance Association of China (IAC) convened a meeting of the Life Insurance Liability Reserve Assessment Rate Expert Advisory Committee to analyze the current macroeconomic environment, capital markets, and interest rate trends. Industry experts discussed assumed interest rates for life insurance products, concluding that the research value for the current assumed interest rate of standard life insurance products is 2.34%.
On 10 January, China Life announced that its cumulative original premium income for 2024 reached approximately CNY671.7bn ($94.04bn), representing a 4.7% year-on-year increase.
For the life insurance agency channel, 2024 was a challenging year marked by transformation and survival efforts. Faced with macroeconomic adjustments, pressure from "unified commission reporting," and declining product interest rates, many agencies had no choice but to adapt to avoid stagnation and decline. Without changes, they risked shrinking market share, high attrition rates, and structural instability.