Significant growth of captive formations in Asia-Pacific domiciles is expected as economies grow and businesses seek new and more sophisticated ways of risk management, says international credit rating agency AM Best.
Foreign InsurTech firms are entering Australia, and now account for 30% of the 2019 eco-system according to a new report produced by Ernst & Young, Australia, in collaboration with Insurtech Australia.
Bangladesh’s insurance sector is a vital area that requires more attention and would benefit from regulatory reform, according to Mr Mamun Rashid, a partner at PwC Bangladesh, in an article published in Dhaka Tribune.
The government owned Hong Kong Mortgage Corporation (HKMC) has launched its Policy Reverse Mortgage Programme (PRMP) as a new product to its range of retirement financing solutions.
The insurance regulator has called upon all companies to do more to grow the industry.
The Ministry of Agriculture is optimistic that it can achieve the agricultural insurance target this year of coverage for 1m hectares of farmland registered in the Rice Farm Business Insurance (AUTP) programme.
Over 40% of health insurance unions, known as kenpo, mainly for employees of large companies, are facing increased pressure to dissolve themselves by the 2022 fiscal year which starts on 1 April 2022.
Malaysia has the third highest death toll from road accidents in Asia and Asean, behind Thailand and Vietnam. There has been no change in the Malaysian fatality rates since 2007.
Four domestic life insurers will cooperate with foreign counterparts to form joint ventures in Myanmar, according to the Myanmar Insurance Association (MIA).
The core message of the findings of the Australian Royal Commission into Misconduct in the Banking, Superannuation and Financial Services Industry also applies to New Zealand, that is, the primary responsibility for misconduct lies with the entities concerned, which requires a close look at the culture, governance, and remuneration of financial services firms, according to New Zealand’s Financial Markets Authority (FMA) regulation director Liam Mason.
The Insurance Commission (IC) has ordered insurance companies, pre-need firms, health maintenance organizations and mutual benefit associations to ensure the protection of their clients’ personal information.
Shying away from technology is an unlikely option for industry practitioners looking to thrive in today’s digital economy, but it would be insufficient to look at the benefits of technology in a vacuum, Dr David Hardoon, chief data officer of MAS, has said.
The South Korean insurance industry is in a dilemma, finding itself in a mature market at home while making made little progress so far in overseas ventures.
The exposure of the Taiwanese insurance sector to China and the US has exceeded NT$268trn ($8.6bn), prompting the Financial Supervisory Commission (FSC) to watch more carefully the rising trade tension between the two countries.
Hong-Kong based King Wai Group (KWG) has signed an agreement with its wholly-owned subsidiary QBE Insurance (Thailand) to provide insurance support to Belt & Road projects in the Kingdom.
In its 1Q2019 earnings call on 24 April, Tesla CEO Elon Musk confirmed that the automotive and energy company is working to provide an insurance product for its autonomous vehicles (AV), which may be based around Tesla’s Autopilot self-driving system.
The 12th annual survey of emerging risks conducted by the Canadian Institute of Actuaries, Casualty Actuarial Society, and Society of Actuaries has ranked climate change as the top risk for 2019.
Social media platforms like Facebook and WhatsApp are emerging as the new public square for criminal deception by cyber criminals. A study ‘Current state of Cybercrime -2019’ released by RSA Security has found that social media fraud increased by 43% in 2018.