Almost two thirds of respondents in a study on life and health insurance expect the market share of multinational insurers in emerging Asia to remain stable over the next 12 months, according to the inaugural edition of Emerging Asia Life Insurance Pulse.
A study commissioned by Zurich has revealed a significant disconnect between the cost of providing life insurance advice and the willingness of consumers to pay for that advice.
The Insurance Corporation Bill, 2019 has been placed before parliament, introducing changes including raising the amount of the capital of life insurer Jiban Bima Corporation and non-life insurer Sadharan Bima Corporation, both of which are state owned.
Cambodia Life Insurance (Camlife) has teamed up with UAE-based InsurTech start-up Democrance to offer affordable and accessible life microinsurance products via the mobile channel.
The Hong Kong government has announced details of the long-awaited Voluntary Health Insurance Scheme (VHIS), including the scope of protection offered by individual indemnity hospital insurance products, and the code of practice which insurance companies participating in the VHIS must comply with.
Indians are grossly unprepared to cope with the financial instability caused by life events, according to a survey, ‘India Protection Quotient (IPQ)’, carried out by Max Life Insurance, one of India’s leading private life insurers.
The Financial Services Authority (OJK) has said that it expects the insurance industry’s premium growth this year to accelerate. In 2018 the growth rate was 9%, lower than in the previous five years when the average growth rate was around 19.5%.
Two major life insurers have reportedly decided to give raises to thousands of their employees. The decisions come as spring wage negotiations, taking place nationwide, enter their final stage at major companies.
General insurance premiums in Malaysia are expected to stay stagnant in view of the progressive impact of tariff liberalisation and as the country’s economic growth moderates, says RAM ratings which is maintaining a stable outlook on the local insurance industry for this year.
Dai-ichi Life Insurance has filed an application for an operating licence in Myanmar.
Internal affairs minister Tracey Martin has announced that the government will review how Fire and Emergency New Zealand (FENZ) is funded.
The Security and Exchange Commission of Pakistan (SECP) will focus on market development and structural reforms in the insurance industry, the regulator said in a statement.
InsurTech companies took $73m or 20% of total FinTech investments in Singapore last year, according to Accenture’s analysis of CB Insights data.
The Financial Supervisory Service (FSS) has submitted to the Financial Services Commission (FSC) a proposal to carry out comprehensive audits on financial companies here, including insurers, starting as early as this month (April 2019).
The Financial Supervisory Commission (FSC) will amend the risk-based capital (RBC) calculations for life insurers by June, as some insurers had since last year been overbuying bond exchange-traded funds (ETFs).
The Thai cabinet has approved a rice insurance scheme for the 2019 season worth THB1.74bn ($55m), aiming to cover 30m rai (4.8m hectares) of farmland.
The Vietnamese government has set a goal of getting 11% of the population to have life insurance by 2020 and 15% by 2025, up from the current 8%, under a recently approved restructuring scheme for the securities and insurance market.
Global
The European Commission adopted new rules to help insurers to invest in equity and private debt and to provide long-term capital financing.
Risk
Finder, an Australian comparison website for financial services, recently analyzed the latest Safe Work Australia data to find the riskiest industries in Australia. The data shows that agriculture, forestry and fishing are the most dangerous industries in the nation.
Northwestern University senior associate vice president and chief risk and compliance officer Luke Figora will be the 2019 RIMS risk manager of the year. The 2019 RIMS risk management honour roll also inducted Walmart vice president global risk management David Stills.