Paris-headquartered Arundo Re has announced that its new non-life reinsurance business in Asia jumped by a robust 33% at the 1 January renewals.
The AIA Group is expected to report a 23% year-on-year growth in its value of new business (VONB) for the fourth quarter of 2024, driven by a rebound in China and strong sales in Hong Kong and Singapore, according to UOB KayHian.
According to news site Jakarta Globe, the implementation of mandatory third-party liability (TPL) insurance for motor vehicles has been delayed, as the country's regulator, Otoritas Jasa Keuangan (OJK) waits for a government regulation. The programme was to be implemented in January 2025.
Samsung Life Insurance is likely to incorporate Samsung Fire & Marine Insurance as a subsidiary, according to South Korean daily newspaper Maeil Business Newspaper, as it had unveiled a value-up plan to enhance corporate value for the first time as a listed company.
Data from the Insurance Regulatory Commission of Sri Lanka shows that the country's insurance industry grew by 16.5% YoY in the third quarter of the current financial year.
India's gig economy is expected to grow at a compounded annual growth rate of 17% to reach a gross volume of $455bn by 2024-25, with the potential to add 1.25% to GDP by 2030 and create 90m jobs in the long term. The country's gig economy currently supports sectors such as e-commerce, transportation, and delivery services.
Thai Setakij Insurance has partnered with online event ticket platform Thai Ticket Major to offer embedded ticket protection insurance, providing customers with refunds if they are unable to attend events.
eCommerce platform Lazada, and technology provider Peak3 have formed a JV to set up a new digital and embedded insurance ecosystem in South East Asia.
MSIG Asia and The RiskPoint Group have formed a strategic partnership to enhance renewable energy insurance across Asia Pacific.
South Korea's insurance industry is expected to grow at a compound annual growth rate (CAGR) of 3.4% from 2025 to 2029, rising from $167.1bn in 2025 to $191.2bn by 2029, according to GlobalData.