As the Japanese demography moves to the super-aged stage, the country's general insurance industry foresees challenges ahead. The immediate demographic challenge for the Japanese non-life insurance industry is lack of growth in the domestic market for its traditional products.
India's insurance market is expected to lead the G20 nations in premium growth at an average rate of 7.3% annually between 2025 and 2029. A new India market outlook report published by global reinsurer Swiss Re released in January 2025 says India is emerging as a global economic powerhouse, supported by robust domestic consumption, private investment and progressive reforms.
The Indonesian archipelago will continue to have wet rainy season during 2025 as the impact of La Niña continues. The country can expect high intensity rainfall to occur until April and thereby increasing the risk of catastrophic events causing much disaster in the country.
Taiwanese health officials are encouraging those aged 30 and over to take advantage of a free health check covered under the country's national health insurance. Till 2024 this facility was only available to those aged 40 and above.
According to research by GlobalData published by the Singapore Business Review, the city-state's accident and health (PA&H) insurance market is set for significant expansion.
Allianz China and Fudan University of China have forged strategic partnership to advance finance and insurance research in the country.
Global broking and advisory firm Willis Towers Watson (WTW) has launched a new cyber insurance facility, CyCore Asia, targeting businesses in Singapore and Hong Kong. To be underwritten by QBE Insurance Group and AXA XL, it aims to address the cyber security concerns with a primary insurance capacity of up to $15m.
As of the end of December 2024, the increase in domestic employment insurance subscribers in South Korea recorded the lowest level in 55 months since May 2020. Compared to other years it was the lowest in 21 years since 2003.
With India's union budget 2025 just round the corner, the one major point that requires government's attention on a priority basis is the insurance sector. With health insurance premiums already running high, there is expected to remain high, improving affordability and accessibility could make a huge difference to the lives of millions of Indians.
Lockton has appointed Mr Timothy Hung as head of growth and strategic development, People Solutions Asia. In this newly created role, he will be responsible for leading revenue growth and driving Lockton's strategy.