On 10 January, the Insurance Association of China (IAC) convened a meeting of the Life Insurance Liability Reserve Assessment Rate Expert Advisory Committee to analyze the current macroeconomic environment, capital markets, and interest rate trends. Industry experts discussed assumed interest rates for life insurance products, concluding that the research value for the current assumed interest rate of standard life insurance products is 2.34%.
On 10 January, China Life announced that its cumulative original premium income for 2024 reached approximately CNY671.7bn ($94.04bn), representing a 4.7% year-on-year increase.
For the life insurance agency channel, 2024 was a challenging year marked by transformation and survival efforts. Faced with macroeconomic adjustments, pressure from "unified commission reporting," and declining product interest rates, many agencies had no choice but to adapt to avoid stagnation and decline. Without changes, they risked shrinking market share, high attrition rates, and structural instability.
Indonesia will introduce free medical screenings next month as part of the country's effort to detect various diseases early and avoid preventable deaths according to the government.
Population ageing presents a multifaceted challenge to society and at the same time creates significant opportunities for the insurance industry in developing the silver economy and narrowing protection gaps.
Watania Takaful Family (WTF) has announced a new strategic partnership with Aura, the state-of-the-art health insurance platform, to deliver faster and more tailored services for small and medium enterprises (SMEs) in the UAE.
AXA Hong Kong and Macau (AXA) has launched WealthAhead Savings Plan (the Plan), a new product featuring an ultra-short premium payment term of two years, supporting customers in accelerating their wealth accumulation and establishing long-term savings.
Nepal's Health Insurance Reform Suggestion Task Force has recommended that the government employees and the employees working in the private organised sector pay 1% of their annual salary to the health insurance fund and an equal amount is paid by the employer.
Australia has no plans to allow private health insurance cover of general practitioner (GP) care in the country. Currently, under Australian law, private health insurance cannot offer cover for out-of-hospital medical services, including GP visits, because they can be covered by Medicare.
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.