Grab, Southeast Asia's leading super app, has announced investments of over $850m from Japanese investors, including Mitsubishi UFJ Financial Group (MUFG) and TIS, that will go toward creating accessible and affordable financial services in Southeast Asia in order to boost financial inclusion in the region.
High premiums, a lack of understanding of insurance and distrust are major barriers hindering the sale of insurance products in China despite the rapid growth of its online insurance sector.
Employer-sponsored health care benefit costs are expected to grow at the same rate as last year in Asia Pacific at 7.1% in 2020, according to a survey of medical insurers by Willis Towers Watson.
French global insurer AXA has said that in Asia, protection and health products mainly drove the group's growth in 2019, with total revenues up by 4% to EUR9.9bn ($10.7bn).
Ms Sabrina Ong, the inaugural winner of Young Executive of the Year at the 4th Asia Trusted Life Agents & Advisers Awards, has been appointed Regional Head of Distribution Learning & Development in Manulife Asia with effect from 2 March 2020.
As the COVID-19 epidemic rages on in China, international credit ratings agencies expect non-life insurers there to bear significant short-term as well as long-term consequences due to higher claims, lower sales and overall slower economic growth.
Genetic testing can be a powerful tool for insurers - potentially allowing them to price risk better. But it also carries with it some potential risks, if applied indiscriminately.
AXA has appointed Dongjun Choi as chief strategy and customer officer for Asian markets. He assumed the role on 18 February 2020 and will report to Gordon Watson, CEO of AXA Asia.
Willis Towers Watson has appointed Jeremy Lim as the market leader in Malaysia for its insurance consulting and technology (ICT) business. Based in Kuala Lumpur, he reports to Choo Oi San, divisional leader, ICT for South Asia and emerging markets.
Pana Harrison (Asia) Pte Ltd has appointed Mr Andy Li as the director of its Taiwan branch office, subject to regulation processes.