With the release of second-quarter solvency reports by listed insurers and their subsidiaries, the half-year results of life insurers have come to light.
The mainland Chinese health insurance market is projected to exhibit a compound annual growth rate of 7.4% from 2024 to 2032, according to Aon, a leading global professional services firm.
Ping An Health Insurance Company of China has maintained higher-than-industry top-line growth since its business transformation in 2016-2017, AM Best notes, as it upgrades the insurer's ratings.
These are the updates on insurance regulatory developments in China.
From September 1, the pricing interest rate for life insurance has been lowered again as scheduled. In recent weeks, insurance agents have seen longer working hours and more client meetings, accompanied by frequent reports of surging product sales.
The Goods and Services Tax (GST) on health and insurance products for individuals has been cut to zero from the existing 18%. The government and the insurance industry hopes that this improved affordability of essential insurance covers will encourage more people to purchase health insurance policies.
Starting 1 September 2025, recipients of Sumbangan Tunai Rahmah (STR) can also claim a MYR30 voucher, subsidised by the Malaysian government, to help finance part of the cost of affordable insurance and takaful products with an annual premium or contribution of at least MYR50 under the Perlindungan Tenang Voucher 3.0 (PTV3.0) programme.
Over 950,000 South Korean citizens have not paid their health insurance premiums for over a year now according to the National Health Insurance Service (NHIS) and the National Assembly of South Korea.
More than 1bn people are living with mental health disorders according to new data released by the World Health Organization (WHO). These people are living with conditions such as anxiety and depression inflicting immense human and economic tolls.
Health insurance premiums are projected to nearly double from SAR42bn ($11.2bn) in 2024 to SAR83bn in 2030, according to a white paper released by Bupa Arabia.