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GIC Re: Underwriting its future
2017 was an eventful year for GIC Re. In an interview with Asia Insurance Review, Mrs Alice G Vaidyan, Chairman-cum-Managing Director, GIC Re, assesses their achievements during the year and their plans for the years ahead.

Source : AIR | 01 Jan 2018
From India to the world
J B Boda is India’s oldest reinsurance broker, having started operations in 1943, and has today established itself as a major player around the world. The company’s Chairman, Mr Atul Dhirajlal Boda, speaks on the journey so far and the future goals for the company.

Source : AIR | 01 Jan 2018
Indian non-life insurance industry: Performance and potential
The Indian insurance industry has been on a roll for the last 17 years. It is now on a threshold to make the big jump into the super league. Mr R Chandrasekaran of General Insurance Council of India outlines what the non-life insurance industry has achieved over the years and what remains to be tapped.

Source : AIR | 01 Jan 2018
Indonesia: Reinsurance sector to grow more than 10% in 2018
Prospects are upbeat for the reinsurance industry in Indonesia that saw premiums grow by 13% to IDR8.35 trillion (US$535 million) in the first nine months of this year, according to the Indonesian General Insurance Association (AAUI). For 2018, the reinsurance growth rate is forecast at 10% to 15%.

Source : AIR | 01 Jan 2018
Indonesia: Motor premiums rise in 1H despite slow market
Motor insurance premiums rose by 9% to IDR8.09 trillion (US$610 million) in Indonesia in the first half of this year, despite flat vehicle sales. This performance bucked that of the overall insurance market which saw total premiums fall by 4% to IDR29.1 trillion in the first six months of the year, according to the General Insurance Association of Indonesia (AAUI).

Source : AIR | 01 Oct 2017
Vietnam: Premiums surge by 22% in first 8 months
Total premium collected by insurance companies in the first eight months of 2017 surged by 21.9% year on year to nearly VND65.56 trillion (US$2.9 billion).

Source : AIR | 01 Oct 2017
Indian Insurers: IPOs and beyond
With as many as six (re)insurers lined up with IPOs amounting to around US$7.8 billion, the journey ahead for the Indian insurance industry will be quite exciting.

Source : AIR | 01 Oct 2017
Reinsurance maintains strong position
Indonesia’s local reinsurance industry has grown significantly over the past two years, owing largely to protectionist regulations implemented by the Indonesian regulator. As the initial effect of the mandatory domestic cessions slows down, the industry continues its upward trend as Indonesian insurers close the protection gap.

Source : AIR | 01 Oct 2018
Spreading its wings
Asia Insurance Review spoke with GIC Re general manager Devesh Srivastava to understand the reinsurer’s plans to expand its global footprint, especially in Europe.

Source : AIR | 01 Nov 2018
Banking crisis and insurance industry - view from India
Minor aberrations apart, the recent crisis in India’s banking industry does not appear to have impacted the Indian insurance industry.

Source : AIR | 01 Dec 2019
Australia: Some health insurers should consider mergers - APRA
Mergers should be at least under active consideration by health insurers with low or negative member growth, and which only have small membership bases to begin with, Mr Geoff Summerhayes, APRA Executive Board Member, has said.

Source : AIR | 01 Mar 2018
Philippines: High capital demands deter non-life players from microinsurance
Nonlife insurance players are deterred from tapping opportunities in the microinsurance space for a number of reasons, chief among them the high minimum capital requirement, the Philippine Insurers and Reinsurers Association (PIRA) has said.

Source : AIR | 01 Mar 2018
View from India: Will the enhanced foreign investment limit catalyse the industry?
India has proposed lifting the limit of foreign investment in insurance from 49% to 74%. Will it translate into a surge in foreign investments?

Source : AIR | 01 Mar 2021
Embarking on the digital trek to healthy growth
Generali Thai’s Korakrit Khumruangrit rues the facts that Thailand’s non-life insurance market has seen weak growth since 2014 - but says that 2018 should improve as the government ramps up efforts to transform the economy.

Source : AIR | 01 May 2018
Philippines: Sun Life leads life market in 2017
Sun Life of Canada (Philippines) remains the top life insurance company in the Philippines with premium income of PHP32bn ($616m) in 2017, based on a data released by the Insurance Commission.

Source : AIR | 01 May 2018
Demographic advantage - a boon or bane?
Can India utilise its ‘being young’ advantage to achieve a sustainable and healthy growth in the decades ahead?

Source : AIR | 01 May 2019
Asia: China & Japan insurers top region by market cap in 1Q - S&P
Chinese and Japanese insurers dominated the list of the 20 largest insurance companies in Asia Pacific by market capitalisation in the first quarter of this year, splitting 13 spots between them, said S&P Global Market Intelligence.Ping An Insurance (Group) of China came in No 1, retaining the first spot from the 2016 fourth quarter.

Source : AIR | 01 Jun 2017
Vietnam: Bao Viet tops finance league but ranks 2nd in insurance
For the first time, the Bao Viet Group has become the leading finance and insurance company in Vietnam, when it posted revenues of US$1 billion last year.

Source : AIR | 01 Jun 2017
Non-life insurance: The best is yet to be
Taiwan’s non-life insurance sector recorded a remarkable growth of 7.23% in 2016 as most classes of business saw premiums rise. Asia Insurance Review speaks to its key market players for insights into the sector’s performance and key struggles, as well as their outlook for the immediate future.

Source : AIR | 01 Jun 2017
Super-aged demographic can spur Taiwanese life market
In this mature life market which faces challenges such as intense competition, tight regulatory control and a low interest rate environment, the spark of opportunity lies in innovation and its rapidly ageing society.

Source : AIR | 01 Jun 2017
Australia: Superannuation changes could save young workers US$377+ per year
The 2018-19 federal budget, announced on 8 May, seeks to protect Australians’ superannuation savings from ‘undue erosion by fees and insurance premiums’. The move could save those aged below 25 up to A$522 ($377) per year, said the financial comparison site, Canstar.

Source : AIR | 01 Jun 2018
Singapore: Life sector kicks off with strong 1Q uptake of annual premium products
The life sector in Singapore posted S$925.1m ($694.1m) in total weighted new business premiums for 1Q2018, a remarkable 14% growth from the corresponding period the previous year, says the Life Insurance Association (LIA) Singapore.

Source : AIR | 01 Jun 2018
South Korea: Life insurers increasingly focused on capital adequacy
South Korean life insurers are increasingly challenged to maintain capital soundness as they grapple with regulatory capital reforms. Several have turned to issuing debt and seeking M&A options to broaden their capital base, said Fitch Ratings.

Source : AIR | 01 Jun 2018
India: GIC Re achieves record growth of 82% in FYE17
GIC Re, India’s national reinsurer, is on a growth trajectory, having achieved an impressive growth of 82.2% during the fiscal year ended 31 March 2017 (FYE17).

Source : AIR | 01 Jul 2017
Indonesia: Life insurers favour stocks and mutual funds in investment
Stock and mutual funds will still be the main investment choice of life insurers, with the Indonesian Life Insurance Association (AAJI) optimistic that both instruments will perform well this year.

Source : AIR | 01 Jul 2018
Sri Lanka: Insurance market expected to maintain growth momentum
Sri Lanka’s insurance sector is expected to continue its growth momentum, driven primarily by the rising per capita income, growing awareness on insurance and considerably lower insurance penetration, said Fitch Ratings.

Source : AIR | 01 Jul 2018
2017 was the costliest year on record for the UK specialty insurance market
The UK specialty insurance market suffered the costliest year on record in 2017, according to EY’s Annual Specialty Results analysis, due to a combination of natural and man-made catastrophes including hurricanes Harvey, Irma and Maria and the Californian wildfires.

Source : AIR | 01 Jul 2018
Taiwan insurers bank on economic optimism
Taiwan’s insurance market had a good run in 2017, where it grew by 9.1% to register record-breaking premiums of NT$3.57tn ($122.8bn), thanks to moderate domestic economic growth and an improving global financial environment. Insurers are not expecting this trend to wane anytime soon, though the industry will have to continue keeping a close eye on local competition, regulatory and capital market developments.

Source : AIR | 01 Jul 2018
Australia: Moderate life growth seen for this year
Life premiums in Oceania, including Australia, are expected to register moderate growth in 2017, supported by savings products as yields have improved slightly, says Swiss Re Institute’s sigma report, “World Insurance in 2016”.

Source : AIR | 01 Aug 2017
Cambodia: Life to push overall market growth
Cambodia’s insurance industry saw a 24% surge in the first quarter of this year with gross premiums reaching US$36.2 million, driven by life business which shot up by 63.5% to $14 million, according to the Insurance Association of Cambodia (IAC).

Source : AIR | 01 Aug 2017
Are there bubbles in Zhong An Insurance's IPO?
After prolonged speculation of Zhong An Insurance going public, the InsurTech unicorn has finally made a move. The online insurer formally filed for an IPO in the Hong Kong Stock Exchange on 30 June and the news has garnered much attention from not only the insurance community, but also the wider financial services industry, observes Chinese InsurTech platform InsurView.

Source : AIR | 01 Aug 2017
Whither the Indian life insurance industry?
The potential of the Indian insurance market is virtually endless. As the industry completes two decades in the liberalised regime, how will the Indian life insurance industry shape up in the years ahead?

Source : AIR | 01 Aug 2019

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