...Insolvencies in Asia Pacific are anticipated to increase by +5% in 2025 (+1% without China) followed by +6% in 2026 (-4% without China), according to Allianz Trade in its latest Global Insolvency Report released earlier this week....
Source : AIRPlus | 20 Mar 2025...Microinsurance carriers achieved the "highest rates of penetration among low- and middle-income populations in Asia and the Pacific, according to the report titled "The Landscape of Microinsurance", published by Microinsurance Network earlier this year....
Source : AIRPlus | 14 Mar 2025...The majority of Australians have paid out-of-pocket for desexing procedures for pet dogs and cats, forking out A$289 ($182) on average, according to a new study by Compare the Market, a price comparison platform....
Source : AIRPlus | 14 Mar 2025...Energy and natural resources companies have said that they face challenges getting the right insurance, according to Willis' "Global Clean Energy Survey 2025" released on 12 March....
Source : AIRPlus | 14 Mar 2025...AI is projected to contribute up to $1.1tn in annual value to the global insurance sector, with its positioning as a key driver of productivity and growth, according to Truong Hoang Phuc, FPT Software managing director of Global Insurance & Finance, FPT Corporation....
Source : AIRPlus | 14 Mar 2025...Global carrier M&A dealings slumped to a 16-year low in 2024 as insurers put the brakes on dealmaking amidst uncertainty and volatility, according to a new report by Clyde & Co....
Source : AIRPlus | 13 Mar 2025...There are rising levels of affluence that continue to be relevant across markets that Singapore-headquartered Great Eastern operates in, according to the company's group CEO Greg Hingston....
Source : AIRPlus | 07 Mar 2025...Interest in asset-intensive reinsurance as a solution is broadening across Asia, Aon's strategic growth leader for Life and Health Reinsurance Solutions, APAC, Danny Alexander has said....
Source : AIRPlus | 07 Mar 2025...More than seven in 10 (72%) of insurance executives in the Asia Pacific who participated in a new survey on how they perceive their industry in a time of growing risk and opportunity are of the opinion that the insurance industry has "an ethical obligation" to close the protection gap which is currently estimated to be $1.8tn....
Source : AIRPlus | 06 Mar 2025...New research commissioned by IBM found that Singapore companies view AI as a promising opportunity, with increasing interest in investing to boost ROI and drive innovation....
Source : AIRPlus | 05 Mar 2025...With the advent of AI tools, the construction sector has a transformative opportunity to extract valuable insights, patterns, trends and actionable information from large datasets, even when almost 90% of the data is unstructured (e.g. emails, PDFs, images and videos). On the flip side, risks exist in using AI in the sector....
Source : AIRPlus | 05 Mar 2025...India's non-life insurance premium growth is expected to be bolstered over the medium term by the country's economic development, rising insurance demand and regulatory initiatives which are designed to increase insurance penetration and promote financial inclusion, according to AM Best associate director Chris Lim....
Source : AIRPlus | 04 Mar 2025...The rapid growth of cyber insurance has prompted insurers to be cautious about overexposing themselves to high-risk areas....
Source : AIRPlus | 03 Mar 2025...With the high cost of living and a strong emphasis on work-life balance, employees in Singapore expect comprehensive benefits beyond just salary....
Source : AIRPlus | 03 Mar 2025...As the insurance landscape shifts with advancements in technology, evolving client demands, AI innovation and sustainability, the inclusion of diverse perspectives has never been more critical, according to a white paper published earlier this year by Solera, titled "Shifting Gears - The Role of Women in Shaping the Future of Automotive"....
Source : AIRPlus | 28 Feb 2025...The IRDAI is working on guidelines for a comprehensive insurance fraud monitoring framework for the insurance sector to identify, assess, and mitigate fraud risks effectively across the insurance industry....
Source : AIRPlus | 27 Feb 2025...The Insurance Council of Australia (ICA) has called for a comprehensive range of initiatives that will protect hundreds of thousands of Australians living in harm's way of natural disasters. The new initiatives also propose to improve insurance affordability for homeowners and businesses....
Source : AIRPlus | 27 Feb 2025...The rise in ESG investing has increased concern over businesses overstating the sustainable credentials of their products and services without a credible basis for doing so - also called "greenwashing" or "climate-washing". As more companies and funds are required or expected to disclose the environmental impact of their activities and investments, the days of 'getting away' with greenwashing are numbered....
Source : AIRPlus | 26 Feb 2025...Across Asia, women feel their financial security has improved compared to previous generations, with 65% saying their finances have improved relative to when their mothers were their age, according to research findings released byglobal financial services provider Sun Life....
Source : AIRPlus | 26 Feb 2025...The government, takaful operators and distributors play an important role in the ecosystem to grow the takaful market in Malaysia, according to Principal Islamic CEO Izad Sallehudin....
Source : AIRPlus | 25 Feb 2025...A study by Equisoft and LIMRA in collaboration with Universal Conversion Technologies, 'Assessing Data Readiness for AI in the Life Insurance Industry', stated that "all companies agree that AI is an important element of their digital transformation roadmap"....
Source : AIRPlus | 25 Feb 2025...Increasing longevity and falling fertility mean the world is facing a new demographic reality - a growing elderly population with fewer working-age people to support it, according to a new report by Geneva Association....
Source : AIRPlus | 20 Feb 2025...The insurance-linked securities (ILS) market has reached new heights, with capacity hitting a record $107bn by the close of 2024. AM Best ILS director Matthew Tuite recently shared insights into the factors fuelling this extraordinary growth, from strong investor returns to rising CAT bond issuance and an evolving appetite among investors....
Source : AIRPlus | 20 Feb 2025...India's motor insurance sector has witnessed remarkable growth, yet a significant challenge remains: there is a large number of uninsured vehicles on the country's roads....
Source : AIRPlus | 20 Feb 2025...Mental health literacy in Singapore has improved with more people being able to correctly identify common mental health conditions. Stigma or negative perceptions towards people with mental health conditions have also eased significantly....
Source : AIRPlus | 20 Feb 2025...Human induced climate change has been found to increase the risk of heat related deaths by 20%, according to a new study by University of Queensland (UQ). Another study by the university has revealed that people living in cities are at a higher risk of dying from heatwaves than those living in the regional areas. The two studies examined the mortality burden of heatwaves in Australia....
Source : AIRPlus | 20 Feb 2025...A recent survey by MDRi, conducted among 1,000 respondents across Hong Kong and Singapore, has shed light on the diverse health and medical insurance needs in these two markets....
Source : AIRPlus | 18 Feb 2025...Aon has released findings from its 2025 Human Capital Employee Sentiment Study....
Source : AIRPlus | 18 Feb 2025...2025 stands out for the insurance industry because of the sheer number of substantive changes in policy and government priorities that domestic and international entities will have to navigate, according to Mr Matt Andrews, APAC managing partner at the international law firm Kennedys....
Source : AIRPlus | 14 Feb 2025...Composite insurance rates in Asia dropped by 3% in 4Q2024, as compared to 4% in 3Q2024, according to Marsh's "Asia Insurance Market Rates: 2024 Fourth Quarter", published in February 2025. Of the countries surveyed, Korea's rates fell the most by 9%, while Taiwan's rates increased by 11%....
Source : AIRPlus | 14 Feb 2025...Climate risk "is systematic, with global effects", according to Ortec Finance investment solutions director Saiyan Raja....
Source : AIRPlus | 14 Feb 2025...The decision by the UK and the US not to sign a declaration at the Artificial Intelligence Action Summit in Paris earlier this week has laid bare the growing divisions over international oversight of the technology. It behooves the insurance industry to be ready for any challenge arising from this situation....
Source : AIRPlus | 14 Feb 2025...The changing middle class and effects of climate change are forcing the insurance industry into a constant state of transformation, said NEC Asia Pacific's Value Chain innovation Lab senior director of digital finance Kunihiko Amako in an interview with Asia Insurance Review....
Source : AIRPlus | 22 Jan 2025...Global insured losses due to Nat CAT is on the rise, according to Munich Re's NatCatSERVICE January 2025 report, "Natural disasters in 2024". The report showed that, adjusted for inflation, insured losses have climbed from $106bn in 2023 to $140bn in 2024....
Source : AIRPlus | 21 Jan 2025...People are the cornerstone of any organisation, serving as its pillar and backbone. At Allianz Asia Pacific, we place our people at the centre of everything we do, fostering a culture of care that extends from today into the future. Our employees are our greatest assets, and we prioritise building and maintaining trust with them, just as we do with our clients. Through open communication channels, our employees feel confident in sharing their views and feedback. Their constructive input helps us understand their challenges and enables us to create the right environment for our employees to thrive and find satisfaction in their work....
Source : AIRPlus | 20 Jan 2025...The number of people aged 65 and over is expected to hit 1.6bn in 2050, with Asia leading the trend, according to the World Economic Forum....
Source : AIRPlus | 18 Dec 2024...Typhoon Yagi was the costliest in Asia this year, according to Munich Re's 'Hurricane/Typhoon Season Summary....
Source : AIRPlus | 18 Dec 2024...As risks continue to evolve, risk experts around the world have to reassess the importance of existing and emerging risks constantly. We spoke to Aon's Mr Joe Peiser on what risk trends the industries in APAC have been seeing, and how Aon is adjusting to those trends....
Source : AIRPlus | 10 Dec 2024...In 2024, the CFA Institute and CFA Society Singapore launched the voluntary Diversity, Equity, and Inclusion Code in Singapore (DEI code Singapore). It offers financial services organisations that choose to follow it voluntarily a framework for developing DEI strategies....
Source : AIRPlus | 05 Dec 2024...When asked what role innovation could play in maintaining competitiveness in the reinsurance industry, Everest Re CEO, APAC Kevin Bogardus was keen to point out that reinsurers need to be responsive to the needs of clients and the marketplace and to be solutions providers....
Source : AIRPlus | 04 Dec 2024...When asked what he expected to see in 2025, UIB Asia CEO Francis Savari first indicated that because the growth momentum in Asia would continue on a macro level, he expected that the more peripheral insurance-related mechanisms in Asia would also proceed at pace....
Source : AIRPlus | 04 Dec 2024...When asked what some common concerns clients had raised this year, Markel managing director APAC Christian Stobbs pointed to continued geopolitical instability and conflict in and around the Red Sea as a "clear focal topic"....
Source : AIRPlus | 28 Nov 2024...According to the report titled "Deepfakes in the Financial Sector: Understanding the Threats, Managing the Risks", published by the Financial Services Information Sharing and Analysis Center (FS-ISAC), the word 'deepfake' is a portmanteau of the words 'deep learning' and 'fake'. It also defined deepfakes as "synthetic media produced by GenAI"....
Source : AIRPlus | 28 Nov 2024...Zurich Insurance (Hong Kong) is focusing on creating a sustainable ecosystem and promoting eco-friendly practices and healthier lifestyles within the community....
Source : AIRPlus | 21 Nov 2024...The life insurance industry is "undergoing a profound transformation driven by an unpredictable world and the rapid evolution of intelligent technologies", according to a report, "Life Insurance x AI", published by Eliot Partnership and Snowflake....
Source : AIRPlus | 20 Nov 2024...The Protection Gap Study 2022, published by the Life Insurance Association Singapore (LIA) in 2023 enhanced understanding of challenges faced by different segments of society, providing insights on where there are opportunities to support the community in bridging their underinsurance gaps, according to Life Insurance Association, Singapore executive director Chan Wai Kit....
Source : AIRPlus | 13 Nov 2024...Digital transformation is no longer an option, but a "necessity to survive and thrive", according to EY Partner Bernadeth Saoria Gultom at the 28th Indonesia Rendezvous, which ran from 9 to 12 October in Bali, Indonesia....
Source : AIRPlus | 13 Nov 2024...Globally, economic losses due to Nat CAT in the first three quarters of 2024 were estimated to be $258bn, approximately 7% lower than the mean at $277bn, according to Aon's Q3 Global Catastrophe Recap, published in October this year....
Source : AIRPlus | 13 Nov 2024...The reinsurance and insurance markets today are characterised by a lot of instability and a lot of change, said Swiss Re chief underwriting officer specialty p&c insurance Anne Lohbeck. She said this during an interview with Asia Insurance Review conducted on the margins of SIRC 2024....
Source : AIRPlus | 12 Nov 2024...According to Central Re executive vice president Terry Ho, the challenges of climate risk in Asian markets "are quite different from those seen in American and European markets"....
Source : AIRPlus | 17 Oct 2024