A new market study by Utmost group has revealed that there was a 6% growth in HNW international life insurance new business sales in 2024 in Asia.
Protection gaps are widening particularly in cyber, climate change, ageing populations and urban mobility, according to bolttech CEO APAC Philip Weiner.
Although claims frequency in Asia for merger and acquisition (M&A) deals are still lower, as compared to more mature regions, there has been a steady rise in the rate of notifications across Asia with insureds becoming more aware of their claims entitlements as well as the benefits of commencing the claims process early and in accordance with the claims notification requirements.
Asia continues to lead global renewable energy growth, fuelled by rising energy demand, ambitious net zero targets and the increasing cost-competitiveness of clean technologies, highlights a new report by Willis.
Asian Development Bank (ADB) has launched Universal Health Coverage Practitioners and Experts Knowledge Exchange and Resources (UHC PEERS), a regional peer-to-peer learning network to accelerate universal health coverage across Asia and the Pacific.
AXA Global Healthcare has appointed Mr James Swatton as senior distribution leader in Asia. In his new role, he has been tasked with further strengthening and expanding AXA Global Healthcare's Hong Kong team, driving growth into new regional markets and collaborating closely with partners and internal stakeholders.
There is no doubt that artificial intelligence is taking the world by storm and disrupting markets. Insurers are increasingly tapping into its potential across the value chain to boost operational efficiency and customer experience. But AI's remarkable efficiency has come with equally substantial energy usage. Can insurers harness AI's potential to make efficiency gains powerful enough to match the energy demands of the technology?
Asia-Pacific life profitability outlook remains stable, though foreign exchange hedging costs may weigh on margins in Japan, says Swiss Re Institute (SRI) in a report on world insurance developments.
Global non-life premiums are expected to grow to $4.8tn in 2025 (2024: $4.6tn), with an 85%:15% split between advanced and emerging markets, according to Swiss Re Institute's latest Sigma report, titled 'World insurance in 2025: A riskier, more fragmented world order'.
Overall, APAC's life insurance sector overall has a 'neutral' outlook at the moment, Fitch Ratings head of APAC insurance ratings Jeffrey Liew said at the company's media briefing.