Thai Reinsurance Public Co is planning to expand it business overseas, especially in the ASEAN region, including Cambodia, Laos, Myanmar and Vietnam. The reinsurer also sees Indonesia and the Philippines as markets where it can grow its business.
Pru plc reported strong sales in the first quarter of 2023 (1Q23), with its annualised premium equivalent (APE) surging by 35% from $1,212m in 1Q22 to $1,559m in 1Q23.
Regional InsurTech Igloo has formed a strategic partnership with global convenience store Circle K to increase the accessibility of non-life insurance products in Southeast Asia.
Insurance giant Tokio Marine Holdings is considering a sale of its life insurance business in southeast Asia that could be valued at about $1bn, reported Bloomberg News quoting people familiar with the matter, as the Japanese insurer looks to focus on its core operations.
If your clients are parents, they may be able to take out a policy on their child/children. If they pass away, this will help your clients take time off to grieve without sacrificing their financial well-being.
The answer to the question "Do I need life insurance?" will be different for everyone. Whether a person needs life insurance depends on his/her financial goals. If any of the following scenarios fit your clients' situation, they would probably need it.
Life insurance provides vital financial protection for adults of all ages. Whether they're younger and just getting started in their careers, older with financial dependents and small children or a senior who recently retired, life insurance is generally worth it.
According to a survey by Manulife, the vast majority of respondents (92%) said they are willing to spend more to prolong their health span. Investing in exercise and healthier diet are the main ways people seek to improve their health. Furthermore, with mental health issues on the rise, mindfulness activities, such as yoga and brain training, are also popular ways of self-help.
The EU-ASEAN Business Council (EU-ABC), an advocacy organisation representing the interests of European businesses operating in Southeast Asia, has made several recommendations for ASEAN insurance regulators relating to digital access to protection, a growth-oriented regulatory environment, transition towards a low-carbon economy and de-risking green investments.
Health insurance firms are increasingly realising that 'Health is Wealth'. When we are healthy, our chances of growing in wealth increase manifold.