Demand from mainland Chinese consumers for Hong Kong insurance products has surged in recent months, driven by concerns over the weakening renminbi and a regulatory cap on projected returns that will take effect in July.
HDI Global has appointed Dr Christian Wegener as head of investment management.
FWD Group Holdings' (FWDGHL) bottom line, underpinned by sustained growth through both onshore and offshore channels in Hong Kong and a solid business presence in Thailand, is expected to continue to improve in 2025 according to Fitch Ratings. The group's growth is also expected to benefit from its established bancassurance channel.
The Financial Supervisory Commission (FSC) of Taiwan has decided on several interim measures to mitigate the impact of exchange fluctuations in the financial and capital markets caused by changes in the international financial situation.
Prescribed interest rates for life insurance policies are expected to be lowered in the third quarter of this year, as bank interest rates continued to fall. The prescribed interest rate for standard life insurance plans may be reduced from the current 2.5% to 2.0%, while interest rate adjustments for participating insurance may vary.
Online insurer Tk.cn Insurance is expected to produce stable yields from investments to consistently underpin the company's overall profitability, offsetting the volatility from underwriting activity, says Fitch Ratings.
These are the highlights for events and updates across the insurance industry this week.
The Life Insurance Corporation (LIC) of India announced that Mr Ramakrishnan Chander has been appointed CIO, according to the Business Standard.
Jumps in hedging costs, sharp currency rate fluctuations, and new regulatory proposals regarding FX risk management are developments that need monitoring, according to a report released by CreditSights, a credit research unit of the Fitch Group.
Japan's four major rated life insurers - Meiji Yasuda Life Insurance Company, Sumitomo Life Insurance Company, Dai-ichi Life Insurance Company and Nippon Life Insurance Company - have reported in their results for financial year 2024 ending 31 March 2025 that the unrealised losses on domestic bonds on an aggregated basis were more than four times higher at fiscal 2024 year-end than a year earlier.