The growth champion of global life insurance business over the next decade is likely to be India, with a growth rate of +13.6% p.a, says Allianz in its "Global Insurance Report 2024".
The maritime region formed by South China, Indochina, Indonesia and the Philippines was the global vessel loss hotspot, both over the past year and decade, according to Allianz Commercial in its annual "Safety and Shipping Review".
Aon has appointed Dr Wen Chen as head of agriculture in APAC. In her new role, she will continue to build upon Aon's successes in the dynamic agriculture sector, while exploring new reinsurance and retrocession opportunities and delivering differentiated capabilities across a range of dynamic and competitive market environments.
WTW has appointed Mr Alex Rosati as head of claims Asia for its Corporate Risk & Broking business, effective 1 August 2024. He succeeds Mr Neil Thomas, who retired in March 2024.
Singapore's Income Insurance is exploring options as it looks to expand across the Asia Pacific region, including possibly tying up with a partner or selling a stake, reported Bloomberg quoting people familiar with the matter.
Deutsche Rück Group has further expanded its business in 2023 including Asia while simultaneously strengthening its asset base, reported the German reinsurer.
Financial advisers should leverage social media to connect with millennials and Gen Z, as new research indicates they are twice as likely to get financial advice online than from a professional, says financial counselor Myles Ma.
US-based life and health reinsurer Reinsurance Group of America (RGA) is targeting further strong growth in Asia on the back of recently closing a $4.7bn deal in Japan.
Sun Life has introduced the SunWell Series, a new suite of critical illness protection plans, across Asia.
Over the medium to long term, substantial growth in the property and casualty reinsurance in the APAC region continues to be anticipated, says Hannover Re in its outlook on the sector.