Insurers in China have begun to consider converting the coverage of existing life insurance policies to pension annuities, notes the mainland Chinese law firm Anjie Law.
Younger people have risen to become the main customer group for commercial health insurance, according to the first comprehensive research report on the development of commercial health insurance in China.
The Hong Kong Insurance Authority (IA) says that its inspections, intelligence received, and mystery shopping have continued to reveal business models adopted by certain licensed insurance broker companies that appear obviously to rely on unlicensed persons to sell long-term insurance policies to Mainland China Visitors (MCVs).
China's five major 'A'-share listed insurance groups posted a cumulative insurance premium income of CNY1.25tn ($176bn) in the first four months of 2024, 1.47% higher than in the corresponding period in 2023.
Insurance companies in South Korea saw their combined net profit shrink more than 11% from a year earlier in the first three months of the year, according to data from the Financial Supervisory Service.
Australians in their mid-to-late-20s have pulled back on spending more than any other age group, according to the latest CommBank "iQ Cost of Living Insights Report".
The insurance industry in Tanzania has posted a total Gross Written Premiums (GWP) of TZS379.40bn ($146.2m) in the first three months of 2024, an increase of 13.6% compared to TZS333.8bn in the corresponding quarter of 2023, according to data released by the Association of Tanzania Insurers (ATI).
Listed insurers in the UAE generated profit before tax of AED722m ($197m) in 1Q2024, a 29% jump from the corresponding quarter in 2023, according to an analysis of the financial results of 26 companies by Badri Management Consultancy.
The Insurance Regulatory and Development Authority (IRDAI) has reportedly discussed with the CEOs of life insurance companies to do away with the high upfront commission of life insurance agents in the first year.
Taiwan life insurers are working to strengthen their regulatory capital base in preparation for stricter regulatory capital standards due in 2026, says Taiwan Ratings, which is an S&P Global company.