Vietnam’s non-life insurance market grew by 10.2% in terms of insurance premium revenue in 2024 to reach VND78.29tn ($3.02bn), revealed the Deputy Minister of Finance, Mr Le Tan Can. Total assets are estimated at VND145.42tn at the end of 2024, up by 13.85% compared to the end of 2023.
More than eight out of every 10 insured feel unsure about the efficacy of their health cover amid soaring medical costs, the findings of a survey by Future Generali India Insurance show.
China’s reduction in capital charges for equity investments by insurers is likely to drive them to increase their equity holdings, Fitch Ratings says.
Malaysia’s general insurance market is poised for further growth in 2025, driven by economic recovery and increased demand for digital insurance products, said the General Insurance Association of Malaysia (PIAM). There is also growing interest in natural catastrophe insurance.
Taiwanese life insurers, with their large holdings of US dollar fixed-income assets and short positions in Taiwan dollar, have been adversely affected by the sharp appreciation of the Taiwan dollar against the US dollar, says Fitch Ratings. They are exposed to a further rise in the local currency.
The Financial Supervisory Service (FSS) has expressed concern over South Korea’s persistently low long-term retention rates compared to international standards.
The New Zealand government has spent at least NZ$19bn ($11.2bn) on responding to natural hazards since 2010, and a further NZ$14bn through its public insurance schemes, according to research commissioned by IAG New Zealand. When the NZ$31bn spent by private insurers is included, the total cost of natural hazards since 2010 is NZ$64bn ($37.7bn).
Cambodia’s insurance industry continued to chart steady growth in 2024, with gross premiums reaching $357m, 3.4% higher than in 2023, according to official figures.
Tokio Marine Holdings (TMH) has said that it aims to construct a high-quality medical provision system for pets and contribute to the stable and efficient management of veterinary clinics.