The agency forces of leading life insurance companies in China are undergoing reform, with the insurers turning to financial planners. The professional planners offer advice on insurance, health and wealth, retirement, wealth and health insurance, and full life-cycle.
Insurers are expanding into the family office space in Hong Kong and Singapore to target the needs of wealthy families in line with consumer demand, says global management consultancy McKinsey & Co.
Wealthy individuals in Hong Kong have shown a marked shift towards using digital channels to manage wealth and a willingness to embrace AI-guided wealth management, according to the findings of a survey of 500 rich individuals in the territory conducted by Capco, a global management and technology consultancy.
More concerted efforts may be needed to boost the financial preparedness of youth in Singapore, according to the latest ASEAN Consumer Sentiment Study (ACSS) 2024 by Singapore-headquartered UOB, a leading Asian bank.
Oliver Wyman has appointed Mr Paul Ricard as head of insurance and asset management. In his new role, he will be responsible for driving the growth of Oliver Wyman's insurance and asset management practice in the region, leading development of client accounts and ensuring the business is effectively serving the needs of the region.
Asia was the driver of the financial results of Toronto-headquartered Manulife Financial Corporation in the first half of this year, with a 289% jump in net income attributable to shareholders to $424m in the second quarter.
Prudential has appointed Ms Angel Ng as regional CEO, Greater China, customer and wealth. She will join the Group executive committee effective 1 October 2024.
The attitudes of high-net-worth individuals (HNWI) have changed over the past few years, driven by economic and social changes, with many of the younger generation putting an increased focus on ESG and sustainable investing. Asia Insurance Review spoke to Transamerica Life Bermuda's Jeremy Young on how the market has changed and how it has affected their business.
To commemorate Singapore's national day celebrations, AIA is offering six months of complimentary holistic insurance coverage for critical illness and mortality as well as complimentary teleconsultations to residents.
The Monetary Authority of Singapore (MAS) has issued a circular providing further guidance to financial institutions (FIs) in the wealth management sector on the establishment of the sources of wealth (SOW) of their customers, including the risk principles that FIs should consider in the designing of their policies and procedures to establish SOW of their customers in a risk-proportionate and reasonable manner.