The attitudes of high-net-worth individuals (HNWI) have changed over the past few years, driven by economic and social changes, with many of the younger generation putting an increased focus on ESG and sustainable investing. Asia Insurance Review spoke to Transamerica Life Bermuda's Jeremy Young on how the market has changed and how it has affected their business.
Increased risk from Nat CAT, as triggered by climate change, is set to complicate "an already intricate business risk landscape", according to WTW's Natural Catastrophe Review: Expert insights, lessons learned and outlook, published earlier in July.
Manulife has appointed Ms Bonnie Qiu as chief distribution officer, Asia, effective 19 August 2024 and Mr Rishi Srivastava as chief agency officer, Asia, also effective 19 August 2024. Both appointments are to Manulife's Asia distribution team.
AIA has announced a new agreement with BlackRock and BNY, as it looks to transforms its investment platform, to support the group's long-term investment programme.
"Over 70% of APAC insurers have already integrated ESG principles into their business models and policies or are doing so," said Income Insurance vice president and head of strategic communications and sustainability Shannen Fong.
The Insurance Federation of Egypt (IFE) and the Financial Regulatory Authority (FRA) are collaborating through the Sustainable Insurance Roadmap Committee to develop a sustainable insurance strategy for the Egyptian insurance market.
A parametric insurance plan helped 46,000 women across 22 districts in India tackle the extreme heatwave conditions that swept through vast swathes of the country in May and June this year.
Without insurance, businesses "will be unable to reach their net-zero transition goals or become resilient in the face of the changing climate", according to a whitepaper by Howden and BCG, titled The bigger picture.
In today's fast-changing environment, Japanese insurers must continue to transform in order to maintain competitiveness and grow globally, says the international professional services firm PwC.
Korea's insurance market has seen a lot of growth and innovation over the past few years, but there is still work to be done to improve the underlying health of the industry. Munich Re's Messrs Roland Eckl and Michael Hauer elaborate.