Vietnam, Indonesia, Thailand, and the Philippines face unique emerging risks, resulting in distinct nuances within their insurance sectors, says the Singapore-headquartered regional InsurTech company, Igloo.
The insurance industry in the Philippines raked in a net income of PHP22.4bn ($393.5m) in the second quarter of 2023, 4.23% higher than in the corresponding period in 2022, according to data released by the Insurance Commission (IC).
The prospective underwriting performance of National Reinsurance Corporation of the Philippines (Nat Re) is expected to be supported by ongoing portfolio remediation measures, including reduced participation and/or exiting from unprofitable non-life treaties, says AM Best.
Malayan Insurance, the biggest non-life insurer in the Philippines, is expected to show a prospective underwriting performance supported by ongoing portfolio remediation measures, as well as business growth in more profitable retail segments, says AM Best.
FWD Group Holdings Limited marked its 10th anniversary since the FWD brand was introduced on 14 August 2013, by announcing its '10 grants in 10 markets' charitable initiative for local communities.
The Insurance Commission (IC) has expressed optimism that the country's insurance density and penetration would improve on the back of financial literacy programmes and digitalisation.
Less than half of local government properties were insured with the Government Service Insurance System (GSIS) as of 31 December 2022, according to the agency.
The 8th Asia Trusted Life Agents & Advisers Awards (ATLAA) concluded yesterday evening, celebrating 16 winners recognised for their outstanding contributions and performance.
Domestic non-life insurers are facing increased negative pressure on the balance sheet strength and operating performance amid rising challenges in accessing reinsurance capacity, says AM Best.
FWD Group Holdings Limited (FWD Group) ranked number six in the 2023 Million Dollar Round Table (MDRT) Top 10 Multinational Companies rankings, retaining its position from last year.