A stark divergence between life and property insurance companies in the accident insurance branch has emerged, driven by tightening regulatory oversight, shifting sales strategies and the rise of digital ecosystems.
The authorities have wiped out a class of insurance products labelled as health insurance policies but structured as high-yield wealth management plans under the "Protection + Savings + Healthcare" concept.
Large and mid-sized insurance companies are rapidly deploying capital and services to the home-based elderly care market as the vast majority of seniors choose to age in familiar environments.
Ping An Insurance (Group) Company of China, continues to advance its "Integrated Finance + Health and Senior Care" strategy, as population aging accelerates and improving the quality of life has become a key concern for society at large.
Allianz Partners has announced senior appointments across its health line of business.
Life insurers in India have reportedly asked the government to double the tax-free limit on insurance policies to INR500,000 ($5,232), according to Reuters, citing three sources directly familiar with the matter.
Nippon Life Insurance Company has partnered with Blackstone in a comprehensive strategic partnership aimed at strengthening its investment capabilities in private credit and real estate. Under the memorandum of understanding, Blackstone will provide investment management services as Nippon Life seeks to enhance long-term returns and broaden its exposure to alternative assets.
Igloo, Southeast Asia's only full-stack AI insurtech company building the operating system for insurance, announced on Tuesday a strategic partnership with Chubb Life Insurance Vietnam Company Limited and PT Chubb Life Insurance Indonesia (jointly referred to as "Chubb Life") to distribute insurance solutions across Vietnam and Indonesia through Ignite by Igloo, its insurance sales intermediary platform and network.
Health insurance was the branch with the highest share in the Turkish insurance market in the first quarter of this year, according to Mr Ahmet Yasar, President of the Insurance Association of Turkiye (TSB).
Swiss Re has appointed Ms Hazel Etherington to Global High Net Worth.