Great Eastern Holdings has announced its financial results for the yer ended 31 December 2019. Asia Advisers Network brings you the highlights, what Group CEO Khor Hock Seng said about the potential impact of the coronavirus to business and his views on what consumers look for when it comes to distribution.
Having implemented biometric technology in several areas such as bank account verification and identity verification at border crossings, Pakistan is beginning to bring it into insurance.
Technology has long been an essential part of the insurance industry, helping insurers develop new products, assess claims and transform the customer experience. The rise of InsurTech has taken this to the next level, but many insurers have been left behind by focusing their efforts on the front-end, rather than updating the back-end. As a result, a number of insurers still rely on old technologies and are left as a result with redundant systems, driving up both maintenance and product development costs.
Insurance pricing in the fourth quarter of 2019 in Asia increased by 6% year-over-year, the largest composite increase in the region in five years, according to Marsh's Global Insurance Market Index for 4Q2019.
Singapore cut its 2020 growth and exports forecasts on Monday due to the expected economic blow from the new coronavirus outbreak, flagging the chance of a recession this year.
Health officials in China have published the first details of more than 44,000 cases of Covid-19, in the biggest study since the outbreak began.
Asia Pacific saw the biggest upwards shift in terms of cross border deals in 2019, both inbound and outbound, according to global law firm Clyde & Co.
The primary insurance market in the Philippines has 86 players serving a population of 105m - suggesting that some consolidation might be in order.
Arch Reinsurance, a wholly owned subsidiary of Arch Capital Group, has announced that it has entered into an agreement in principle to obtain a majority stake in Precision Marketing Asia Pacific (PMAP), subject to regulatory and other approvals.
Chubb announced today the appointment of Mr Jon Longmore as the new president director to lead its general insurance business in Indonesia, subject to regulatory approval. Mr Longmore will replace the incumbent Tai Kuan Ly, who has assumed a new position as Chubb Overseas General Head of Auto. In his new role, Mr Longmore will report to Glen Browne, Chubb's Deputy Regional President for Asia Pacific and Division President for Southeast Asia.