Great Eastern Holdings chairman of the board Mr Koh Beng Seng will step down from his board position at the upcoming 24th Annual General Meeting in April. Board member Mr Soon Tit Koon will succeed as chairman.
Singapore's general insurance sector recorded positive results for both the offshore and domestic segments with a combined 15% increase in GWP to S$9.34bn ($7bn) in 2022, according to the latest statistics released yesterday by the General Insurance Association of Singapore (GIA).
Shift Technology, a provider of AI-driven decision automation and optimisation solutions for the global insurance industry, has announced that The General Insurance Association of Singapore (GIA) will extend its use of Shift Claims Fraud Detection on behalf of its member insurers.
Global specialty insurer Mosaic Insurance has opened its first Asian office in Singapore and hired two specialty underwriters to build its transactional liability business across the Asia-Pacific region.
Everest Reinsurance has promoted Mr Kevin Bogardus promoted to Singapore branch chief executive. He was previously Asia Pacific head of business development for Asia Pacific.
In his expanded role, Bogardus will oversee operations for Everest Reinsurance across all of Asia Pacific from the regional Singapore office. He will also continue to lead the strategic expansion of Everest Reinsurance's Asia Pacific business, identifying opportunities for regional growth and portfolio diversification.
Leading insurance group Great Eastern Holdings (GEH) has announced that while profit attributable to shareholders fell 30% to S$784.2m ($584.3m) for 2022, largely reflecting the lower valuation of investments given the challenging global investment climate, operating profit from insurance business registered a healthy growth of 7% for the year.
Singapore's refreshed action plan for successful ageing launched in January 2023 will be centred around three major themes of Care, Contribution and Connectedness, otherwise known as the 3Cs.
The Singapore life insurance industry posted weighted new business premiums totalling S$5.1bn ($3.8bn) for the full year of 2022, according to a statement released yesterday by the Life Insurance Association of Singapore (LIA Singapore).
HSBC has announced the completion of the legal integration of AXA Singapore and HSBC Insurance (Singapore) via a scheme of transfer. This also marks the start of insurance operations as a combined business under HSBC Life (Singapore) Pte Ltd.
To look into the implementation of the Work Injury Compensation regime for Platform Workers, the Ministry of Manpower will set up a Platform Workers Work Injury Compensation Implementation Network (PWIN) to develop key operational policies for the Work Injury Compensation regime for Platform Workers. This was announced by Manpower Minister Tan See Leng at a dialogue session with around 120 platform workers on 3 February.