Munich Re, Google Cloud and Allianz have announced a joint partnership towards pioneering cyber insurance, a first-of-its kind collaboration between a major cloud provider and leading cyber insurance companies. .
Insurance pricing will continue to increase across most business lines globally this year as carriers look to mitigate poor underwriting performance and the uncertainty brought on by the COVID-19 crisis.
The Insurance Regulatory and Development Authority of India (IRDAI) and Indian National Shipowners Association are in talks to develop a protection and indemnity insurance club (P&I club) in India according to a report in the financial daily Business Line. A P&I club is a mutual insurance association that enables risk pooling among members and provides information and representation for its members.
The India Protection Quotient (IPQ) 3.0 survey has revealed that 57% of urban India's salaried professionals feel that the group term life (GTL) insurance cover provided by their employer is sufficient.
FWD Group ("FWD") announced that it has completed its investment in a significant minority stake in PT Asuransi BRI Life ("BRI Life"), the life insurance arm of PT Bank Rakyat Indonesia (Persero) Tbk ("BRI"). As part of this investment, BRI Life has entered into a long-term life insurance distribution agreement with BRI.
Sri Lankan life insurer Union Assurance has created history in the market with a record number of 172 Million Dollar Round Table (MDRT) qualifiers from the company in 2020.
Sitting on the judging panel of the 6th Asia Trusted Life Agents & Advisers Awards is Jude Gomes, CEO of Union Assurance.
Global insurer Allianz announced its consolidated results for the Asia Pacific region for the year ended 31 December 2020, showing that total operating profit for Asia increased by 15.4% (19.0% w/o F/X impact) to EUR551m ($666.4m) compared to 2019.
Life insurance is the most preferred financial tool by individuals across India today.
The health protection gap in Asia was valued at $1.8tn in 2017, 10% of average household income, and is projected to widen more quickly and may become more persistent.