The bulk of losses resulting from Typhoon Yagi claimed on Vietnam insurance companies is expected to be borne by domestic and international reinsurers, according to a new commentary by AM Best.
Insurance companies in Vietnam have received at least VND2.76tn ($112m) in claims to date for damages caused by typhoon Yagi which made landfall in Vietnam on 7 September.
After a tough year in 2023, the business performance of life insurance companies has not yet recovered.
MSIG Asia (MSIG) has announced that it has invested in a major stake in Serenity Health Partners (Serenity), a Singapore-incorporated health solutions provider.
Huize Holding, a Nasdaq-listed Chinese insurance technology platform company, has announced that its international arm Poni InsurTech has completed its acquisition of 71.7% stake in Vietnam-based Global Care Consulting Joint Stock Company. The Vietnamese InsurTech company specialises in digital transformation solutions for the insurance industry.
The community programme, called "Hoops+Health", is inspiring engagement, activity and healthy living through basketball by improving community access to courts and education across six Asian markets.
Manulife Vietnam has announced its new mobile app, 'Manulife Vietnam', designed to empower customers with convenient access to their insurance policies on handheld devices.
Singapore-headquartered regional InsurTech Igloo has announced that it has expanded its digital platform, Ignite, to the Philippines.
FWD Group Holdings (FWD) has announced the expansion of its award-winning financial literacy programme, JA SparktheDream, in Vietnam.
Government spending on renewable energy, transportation, and other large-scale infrastructure projects is likely to drive greater demand for non-life insurance coverage going forward, says AM Best.