AIA has introduced the Premier Hospital & Surgical Saver (PHS Saver) to better serve consumers in relation to the increase in demand for individual health insurance products.
Singapore's medical inflation rate is projected to be 12.0% in 2025, as high as in 2024. While the trend may be slightly cooling, it is projected to remain elevated over the longer term, according to a report released by WTW, a leading global advisory, broking and solutions company.
Sanlam Life Insurance (Sanlam Life), a wholly owned subsidiary of Sanlam Limited (Sanlam), the non-operating holding company of the Sanlam group, has been assigned a Financial Strength Rating (FSR) of 'A-' (Excellent) and a Long-Term Issuer Credit Rating (Long-Term ICR) of 'a-' (Excellent) by AM Best. The outlook assigned to these credit ratings is 'Stable'.
The Saudi insurance market continues to grow strongly in the first nine months of 2024 (9M2024), but performance remains mixed by lines of business, notes Badri Management Consultancy which specialises in actuarial services.
The Khyber Pakhtunkhwa provincial government will establish a takaful company to operate a proposed universal life insurance scheme.
The Chinese life insurance sector is expected to chalk up mid-single digits top-line growth in 2025, after growing by 15.7% year on year in 3Q2024 due to strong sales before insurers' pricing-interest rate cuts, says Fitch Ratings.
The premium income of life insurance companies in China declined in the single month of October, which was the first monthly negative growth in 2024 to date, according to data from the National Financial Regulatory Administration (NFRA).
Medical costs are projected to rise in mainland China by a marginally faster rate of 10.8% in gross terms in 2025, compared to 10.5% in 2024, according to the WTW Global Medical Trends Survey.
While proposed reforms by IRDAI would allow for full foreign ownership of insurance companies in India, many international investors may still prefer to enter the market through joint ventures with Indian partners, particularly in the initial stages, says the global law firm Freshfields.
Fukoku Mutual Life Insurance Company (Fukoku Life) maintains a strong capital position, with the corporate principle, "Not the biggest, but the best", continuing to emphasise the strengthening of its capital base and financial soundness, says CreditSights, the credit research unit of Fitch Group.