AIA's Hong Kong business outpaced that of mainland China in 2023 to become the largest contributor to the group's value of new business (VONB) in 2023 as the territory captured the very strong demand of mainland Chinese visitors (MCVs) following the full resumption of normal cross-border travel in February 2023.
Sedgwick has appointed Ms Nicki Dunn as chief client officer for Asia, Mr Irwin Wei as manager, data and digital solutions and Ms Kalnisha Velu as quality assurance and operations manager.
Hong Kong-headquartered pan-Asia insurance group, FWD Group Holdings, has announced its financial results for the year ended 31 December 2023 which show that the value of new business jumped by 22% to $991m, compared to 2022.
Asia Pacific's contributions to the business of Canopius Group, a leading global specialty and P&C (re)insurer, increased to 10.6% of the total Insurance Contract Written Premium (ICWP) in 2023, one percentage point higher than 2022's 9.6%, according to financial statements released by Canopius.
Growth is set to pick up for life insurance business in some markets in the Asia Pacific while other markets are affected by interest rates, says S&P Global Ratings (S&P).
Sun Life has appointed Ms Mahima Marwah as chief client experience and marketing officer, Asia. In her new role, she will be responsible for leading the client and marketing strategy across Asia to grow brand health, deepen client engagement and inform product innovation to meet client needs.
Insurers in APAC are expected to see P&C insurance premium growth slow as premium rate hikes moderate except in Japan and Thailand, S&P Global Ratings (S&P) has said.
EY has appointed Mr Jonathan Zhao as regional managing partner of its Financial Services Organisation (FSO), effective 1 July 2024. He joined EY in 2000 and served as insurance sector leader in 2013. He has been FSO strategy and transactions leader since 2018.
Credit trends in the Asia-Pacific insurance sector remain steady, though prospects vary across regions, says S&P Global Ratings (S&P). Of the Asia-Pacific insurers S&P rates, 98% have a stable outlook
London-headquartered Miller, a leading independent specialist (re)insurance broker, has said that in its international operations, it is in particular establishing an increasingly meaningful market share in Singapore.