Malaysian Re has announced that it had entered a memorandum of understanding (MoU) with China Pacific Property Insurance Company (CPIC) and Kunpeng Insurance Broker Company, aimed at the development of health and medical insurance products in Malaysia, with a particular focus on cancer precision medicine treatment.
The combined ratio of property and casualty insurance companies increased in 1Q2024 because of higher claims paid for damage from weather events such as snow and frost, say insurance industry analysts.
China's five major 'A-shares' listed insurance groups showed improvement in their topline performance in the single month of March 2024, which helped to narrow the decline in cumulative premium income in 1Q2024 compared to that in the first two months of the year.
Several developments are set to change fundamentally the product logic and pricing model of traditional auto insurance, says the international professional services firm KPMG.
The open "insurance +" ecosystem will span multiple industries and represent an important new market for InsurTech companies, says the international professional services firm KPMG.
Fitch Ratings has affirmed the ratings of seven Chinese insurers, and revised the outlooks for six of these seven to 'Negative' while the outlook on the seventh remains 'Stable'.
The synergy and integration of two global foreign insurance players and their Chinese P&C operations are expected to increase, says Fitch Ratings.
Four shareholders, planning a collective withdrawal from a life insurer, have posted for sale their combined 65% stake in the joint venture on the Beijing Equity Exchange with the offer starting on 12 April and closing on 24 May.
The direct settlement of medical bills by patients outside of their home city or province in China jumped almost four times last year after local public health insurance systems were further integrated and expanded to cover more illnesses.
Insurers and banks should step up medium- and long-term financial support to the manufacturing industry to make the industry more efficient, innovative and sustainable, according to a joint statement released by several government agencies.