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.
As the year-end approaches and the new year begins, the 'Kai Men Hong' (translated to 'a prosperous beginning') season - a critical time for boosting performance - is in full swing.
With long investment horizons, large capital pools, and a preference for stable returns, insurance funds are well-suited to invest in high-quality real estate. Such investments help insurers extend asset durations and achieve better asset-liability matching.
Since last year, both insurance companies and intermediaries have been closing branches on a large scale, a trend the industry has dubbed "streamlining and quality enhancement."
Regulatory oversight in agricultural insurance is intensifying. End of last year, the National Financial Regulatory Administration, Ministry of Finance, Ministry of Agriculture and Rural Affairs, and National Forestry and Grassland Administration jointly issued the 'Ten Guidelines for Promoting Precision in Agricultural Insurance Underwriting and Claims' (referred to as the guidelines). This policy emphasized standardizing the agricultural insurance market. Soon after, local regulators began responding.