The outlook for the APAC insurance sector in 2025 is maintained as "Neutral', supported by stable operating margins and strong solvency buffers, says Fitch Ratings.
More than three-quarters (76%) of insurers in Asia Pacific (APAC) anticipate higher or significantly higher medical trends over the next three years, according to a survey of health insurers conducted by WTW, a leading global advisory, broking and solutions company.
When asked what role innovation could play in maintaining competitiveness in the reinsurance industry, Everest Re CEO, APAC Kevin Bogardus was keen to point out that reinsurers need to be responsive to the needs of clients and the marketplace and to be solutions providers.
When asked what he expected to see in 2025, UIB Asia CEO Francis Savari first indicated that because the growth momentum in Asia would continue on a macro level, he expected that the more peripheral insurance-related mechanisms in Asia would also proceed at pace.
Tokio Marine Kiln (TMK) has appointed Ms Georgina Furness-Smith as cyber underwriter, effective 2 January 2025. In her new role, she will focus on further expanding TMK's presence in markets across the region, as well as maintaining and accelerating the cyber team's growth.
When asked what some common concerns clients had raised this year, Markel managing director APAC Christian Stobbs pointed to continued geopolitical instability and conflict in and around the Red Sea as a "clear focal topic".
AIA has appointed Mr Fisher Zhang as regional chief executive, subject to all necessary regulatory approvals. He will continue to fulfil his current responsibilities until the senior management appointment officially takes effect.
The middle-class Asian Gen Z demographic is at an earlier life stage, with many currently in the lower middle-class segment. Nonetheless, they are more ambitious and self-confident compared to Millennials and Gen Y, with a strong desire to move up from middle-class status, says Peak Re in a report.
Allianz Asia Pacific has reported a total operating profit of EUR584m ($616m) for the nine months to 30 September 2024, representing an increase of 3%, bolstered by strong performance in its Life/Health and Property/Casualty business.
Zurich Insurance (Hong Kong) is focusing on creating a sustainable ecosystem and promoting eco-friendly practices and healthier lifestyles within the community.