Eight domestic insurance companies, including China Pacific Insurance, ZhongAn Online P&C Insurance, and Ping An Insurance, have launched nearly 20 types of sports accident insurance on the Ant Insurance Internet insurance agency platform.
China's insurance industry chalked up premium income of CNY3.87tn in the first eight months of this year, according to statistics released by the National Administration of Financial Regulation (NAFR). The figure represented a growth of 11.9% over the corresponding period in 2022.
The insurance market in Korea is expected to decline by 0.7% in 2023 compared to an increase of 11.6% in 2022, with total premiums projected to reach KRW250.9tn ($186bn), according to a blog on the website of Korean Re.
Cathay Century Insurance's voluntary motor insurance branch, a major business line for the insurer, has contributed to an improving underwriting margin supported by better pricing and the insurer's ongoing efforts to refine the risk quality and product composition, says AM Best.
More than three quarters (76%) of travellers from India who went overseas did not buy travel insurance for their last trip, according to a recent survey commissioned by ICICI Lombard General Insurance.
Vietnam, Indonesia, Thailand, and the Philippines face unique emerging risks, resulting in distinct nuances within their insurance sectors, says the Singapore-headquartered regional InsurTech company, Igloo.
The insurance industry in the Philippines raked in a net income of PHP22.4bn ($393.5m) in the second quarter of 2023, 4.23% higher than in the corresponding period in 2022, according to data released by the Insurance Commission (IC).
Two-thirds (65%) of residential properties in Istanbul, making up approximately 4.15m homes, have taken up mandatory earthquake insurance, according to data released data by the Turkish Catastrophe Insurance Pool (TCIP).
A senior insurance executive has proposed a minimum price for natural disaster insurance so that the price of the basic insurance policy, to which Nat CAT cover is attached, would remain unaffected.
Less than half (49.4%) of the Southeast Asians participating in a survey perceive climate change with high urgency levels, even as the region experiences extreme weather disasters fuelled by global warming.