The impact on China Pacific Insurance (CPIC) of the authorities' move to lower pricing interest rates of traditional insurance products would be limited, the giant insurer says in a bulletin released on 1 June.
China's insurance claim services for policies sold through the Internet have three major features: they are almost totally online, intelligent, and paperless, according to a study by the Institute of Finance and the Insurance and Economic Development Research Centre, both of the prestigious think tank, the Chinese Academy of Social Sciences.
Mainland Chinese visitors to Hong Kong snapped up insurance policies in the territory, generating new office premiums totalling HK$9,613m in the first three months of the year.
Insurance companies in China are continuing to increase their capital, after the implementation in 2022 of the China Risk-Oriented Solvency System (C-ROSS) Phase II regime.
The re-opening of borders between mainland China and the territory on 6 February 2023, after a three-year lockdown because of the COVID-19 pandemic, portends well for the insurance markets of the Greater Bay Area (GBA), including Hong Kong.
Nearly all (94%) of existing and potential health insurance customers in India regard customisation as a crucial factor in buying medical insurance, according to a survey commissioned by Future Generali India Insurance Company.
The Hong Kong insurance industry saw a 7% decrease in total gross premiums to HK$147.2bn ($18.8bn) in the first quarter of 2023 compared to the same period in 2022, according to provisional statistics released by the Insurance Authority (IA)
Manulife Singapore has introduced Manulife Pro, its first-ever comprehensive premier recognition programme, which provides the top-performing financial consultants from Manulife (Singapore) and Manulife Financial Advisers with differentiated and dedicated resources and tools.
The insurance sector in Cambodia saw total premiums increase by 5.5% to $96m in the first quarter of this year compared to the corresponding quarter in 2022, according to the Insurance Association of Cambodia (IAC).
A number of insurers are mulling an increase in the premium rates for term life insurance this year after two years of high claims from the COVID-19 pandemic.