South Korea's insurers saw their profits decline in the first quarter from a year earlier due to increased insurance operating losses, according to the preliminary data from the Financial Supervisory Service (FSS) released yesterday.
State-run Life Insurance Corporation of India (LIC) contributed 50.5% of total first-year individual single and non-single premium income in the financial year ended 31 March 2020 (FY2020) compared with 61.3% in FY2010, notes CARE Ratings.
HSBC has launched HSBC Health Goal Insurance Plan (HGIP), a whole-of-life insurance plan designed for commercial customers in Hong Kong. Commercial customers can now integrate HGIP into their business continuity strategy to cover enhanced keyman protection, talent retention and long-term wealth growth.
Singapore's life insurance industry recorded a total of S$965.8 million (US$677.28 million) in weighted new business premiums for January to March this year, a 10% increase from the same period in 2019.
In light of the COVID-19 pandemic, Great Eastern has strengthened its partnership with health-tech company Doctor Anywhere (DA) to bring online and offline general practitioner (GP) consultations island-wide to more of its customers.
The main impact of the coronavirus pandemic on the 1Q2020 results of the top 10 insurers in the Korean life and non-life sectors is from heightened financial market uncertainty rather than the resultant business disruptions, according to Moody's Investors Service.
South African insurance giant Sanlam sees lots of potential in the Tanzanian market, but it needs bancassurance allies and better messaging to reach more customers.
The Inter-African Conference on Insurance Markets (CIMA) has stipulated to the Association of Cameroon Insurance Companies (ASAC) to provide coverage to policyholders infected by COVID-19, in accordance with principles of "fair treatment and protection of the insured".
The Life Insurance Association, Singapore (LIA Singapore) recorded a total of S$965.8m ($678m) in weighted new business premiums for 1Q2020, a 10% increase from the same quarter in 2019.
Indian life insurers may close down nearly 1,000 branches as digital sales platforms gain in prominence due to movement restrictions from the COVID-19 pandemic. There are currently 11,600 life insurance branches across the country.