EV maker allies itself with 8 insurers to enhance insurance services for smart vehicles

...China,” said Mr He Xiaopeng, chairman and CEO of XPENG. “We need the support of policies, regulations, and the insurance industry. It is through a collaborative exploration of the autonom...

Hong Kong: HSBC Life's AI investment shortens claims payment time

...China Morning Post....

Hong Kong: Peak Re posts first loss since inception

...China and the Middle East, where the health sector has been privatised or partly opened to the private sector in recent years. Peak Re continues to benefit from rising demand in these markets as the...

Allianz Asia Pacific partners with INSEAD to transform agency force

...China, Indonesia, Malaysia, Philippines, Sri Lanka, Taiwan, and Thailand. The six-month programme is a performance-based qualification initiative that recognizes and rewards the top-perform...

Half of APAC insurers yet to start on net zero

...China, Thailand, Taiwan, Malaysia, Australia and South Korea on six major topics ranging from regulatory adoption to environmental, social, and governance (ESG) and net zero, to investment and hedgin...

Philippines: Challenge of health longevity viewed with growing concern

...China, Hong Kong, Indonesia, Malaysia, Philippines, Singapore, and Vietnam. A total of 7,224 people, aged 25 to 60 years old, were surveyed in late December 2022 and early January 2023. In the Philip...

South Korea: Reinsurer posts favourable topline and bottomline growth in 2022

...China, and a representative office in Bogotá, Colombia. This drive to take our operations into overseas markets will continue going forward.” Profits Turnin...

People on the move

...China, Hong Kong, Taiwan, Vietnam, Thailand, Malaysia, Singapore, Indonesia and Japan. ...

New business value continues to drop, is the turning point near?

...China have seen a drop, according to the latest 2022 numbers. There were several reasons laid out in their respective financial reports – market volatility, decreased investment income, etc &nd...

China: AIA gets regulator's nod to start operations in its 10th mainland market

...China CEO, said, “The life insurance industry in Henan has significant growth potential, which is underpinned by a sizeable middle-class population, a very large provincial economy with an annu...

Southeast Asia: Regional InsurTech kicks off partnership with convenience store chain in Vietnam

...China.  ...

Singapore: MSIG Insurance grows bancassurance business with an exclusive 15-year deal with HSBC

...China, Hong Kong, Taiwan, South Korea and India. Headquartered in Japan, MS&AD is amongst the top non-life insurance groups in the world based on gross revenue. A pioneering player in the bancass...

Asia Pacific: Regulatory adoption & ESG integration are priorities in insurers' investment management

...China. Respondent profiles consisted of both regional and local CEOs, CIOs, CROs, heads of investment, heads of risk, and various other department heads. Key findings & recommen...

Singapore: NASDAQ-listed AGBA Group Holding to acquire Sony Life Financial Advisers

...China, Singapore was selected for expansion due to the island nation’s position and reputation as a global centre for innovation, business and finance. Ranked 10th place for average income by c...

New China pummelled in 2022 by stock market ills and halving of agent numbers

People on the move

...China country president where he oversaw ACE’s acquisition of Chubb China and led the company’s business expansion in China, at the same time establishing two new branches in Beijing and...

InsurTech needs to evolve with generations

...China and the collapse of Silicon Valley Bank and more, start-ups are facing a prolonged funding winter.   Investment and funding by venture capitalists are drying up...

Poor retirement health highlights need to plan for the future

...China, Hong Kong, Indonesia, Malaysia, Philippines, Singapore, and Vietnam. A total of 7,224 people, aged 25 to 60 years old, were surveyed in late December 2022 and early January 2023....

Hongkongers predict over 20 years of poor health in retirement

...China, Hong Kong, Indonesia, Malaysia, Philippines, Singapore, and Vietnam. A total of 7,224 people, aged 25 to 60 years old, were surveyed in late December 2022 and early January 2023. In Hong Kong,...

eBaoTech: The growth and regulatory landscape of insurance in China

...Established for over two decades, eBaoTech has witnessed the flourishing growth of the Chinese insurance industry. Enquiring about the factors driving the expansion of the country's auto insurance market and the level of regulatory supervision of InsurTech, eBaoTech Corporation founding CEO Woody Mo provides us with his views....

eBaoTech: The future of InsurTech

...InsurTech has seen significant growth and development over recent years. InsurTechs have introduced various new technologies which have streamlined the insurance process, from underwriting and claims handling to customer service and product offerings. While some experts believe that the industry has peaked and may not have much more room for growth, others argue that the market is still expanding with opportunities for innovation. eBaoTech Corporation founding CEO Woody Mo shared his thoughts with us....

Waterdrop swings back to profits in 2022 on heavy cost cutting

...New York-listed Waterdrop, one of China's largest listed insurance intermediaries with a technology platform dedicated to insurance and healthcare services, swung its financial performance to black ink in 2022 through heavy cost cutting....

AIA Hong Kong forms GBA healthcare alliance

...China region to designated AIA Hong Kong, Blue Cross and U Care customers residing in the Greater Bay Area (GBA). The collaboration between AIA Hong Kong, Blue Cross and U Care and GBAH Gro...

Life insurance professional intermediaries break out of niche in steady expansion

...;China Life Insurance Intermediary Professional Marketing Summit" held on 7 March, were told that the professional intermediary channel currently generates more than 6% of life insurance business...

InsurTech growing slowly but surely in Japan

...China. Yet, InsurTechs in Japan are still very thin on the ground.   Japan has been a ‘difficult’ market for InsurTech start-ups for a variety of reasons,...

Nigeria: InsurTech company's seed funding round attracts China's Internet giant

...China Internet giant Tencent. Other investors in this round are AAF Management (invested in Sure, Flutterwave), Elefund (invested in Robinhood, Pie Insurance and Sure), BluePointe Capital M...

Fanhua on acquisition trail

...China’s insurance market.” Second acquisition announced within a week The acquisition of Wuhan Taiping, announced on 8 February, followed a statement...

Cheche Technology: The practice of China's NEVs insurance

...Cheche Technology is a Chinese InsurTech company focusing on online motor insurance. At present, the company serves over 50m customers from over 30 provinces/regions across the country. Its main products include motor insurance from many leading insurers such as PICC, Ping An, CPIC, Sunshine and China Life. We spoke to Cheche Technology founding CEO Zhang Lei about the current underwriting profitability of NEVs insurance in China, the landing of NEVs insurance and prospects for the next five to 10 years....

China: Fanhua to acquire Zhongji Shi'An Insurance Agency

...Nasdaq-listed Fanhua, a leading independent financial services provider in China, has signed a definitive agreement with the existing shareholders of Jilin Zhongji Shi'An Insurance Agency to acquire 51% of the equity interests of Zhongji....

Auto InsurTech platform company to be publicly listed through merger

...China’s insurance industry to develop and launch two cloud-based SaaS solutions for insurance carriers and intermediaries: Sky Frontier and Digital Surge. Sky Frontier is an AI-based,...

Car companies becoming insurance intermediaries

...China team     According to statistics, in 2022 alone the China Banking and Insurance Regulatory Commission (CBIRC) has cancelled or...

Health insurance is adapting to consumer needs

...China are soon set to become super-aged societies like Japan. Many young people are not marrying and not having children. Aside from the impacts this will have on national populations and work forces...

Macau: Prudential opens branch to widen Greater Bay Area reach

...China’s Greater Bay Area (GBA). ...

Philippines: AIA gets approval to acquire Medicard

...China, Hong Kong, Thailand, Singapore, Malaysia, Australia, Cambodia, Indonesia, Myanmar, New Zealand, South Korea, Sri Lanka, Taiwan (China), Vietnam, Brunei and Macau SAR, and a joint venture in In...

Hong Kong: 3rd CAT bond issued in the territory

...China. Welcoming the issuance, Mr Clement Cheung, CEO of the Hong Kong Insurance Authority (IA), said in statement on 30 December 2022), “The arrival of a second ILS issued in Hong Ko...

People on the move

...China CEO with effect from 1 January 2023. He will be leading Allianz Trade in China and will be based in Shanghai.   Prior to this appointment, he was Allianz Trade...

Hong Kong's plan to rejuvenate insurance industry

...China have signalled the government’s commitment to support insurers by launching a development plan for the insurance industry.   Hong Kong’s Insurance A...

The status of the auto market in China today

...Cheche Technology is one of the top InsurTech companies in China focusing on online motor insurance. At present, the company serves over 50m customers from over 30 provinces/regions across the country. Its main products include motor insurance products from many leading insurers such as PICC, Ping An, CPIC, Sunshine and China Life. We spoke to Cheche Technology founding CEO Zhang Lei about the status of auto market today in mainland China, what has happened 2 years after the comprehensive reform and Cheche's strategies etc....

Examining the critical role of reinsurance at SIRC

...China is a very special and interesting case” because weakness in consumer demand has stifled inflation but when demand picks up, the result will be inflation that will peak in mid-2023....

Real challenge in green transformation lies in decarbonisation

...China's green technology innovation, he says. With the insurance industry playing an important role in climate risk mitigation and energy transition solutions, and in offering underwrit...

Hong Kong: Govt releases development roadmap for the insurance sector

...China’s national development, riding on the “Dual Circulation” strategy; and (e) to give full play to the distinctive role of insurance in providing comprehensive risk man...

People on the move

...China and Australasia head of property and special risks, where he covered all short tail lines.  ...

Chinese reinsurance market in transition

...China continues to be one of the strongest economies in the world and the fastest growing insurance market, despite the current challenges it faces with its zero-COVID policy....

Foreign reinsurers and the regulator

...China expect from the insurance regulator? Asia Insurance Review spoke with SCOR Asia Pacific’s...

Examining the critical role of reinsurance at SIRC

...China is a very special and interesting case” because weakness in consumer demand has stifled inflation but when demand picks up, the result will be inflation that will peak in mid-2023....

Supply-chain risks must be handled better

...China impacted free trade and benefits that come from globalisation. Mr Houghton said that there have been protectionist tendencies, civil unrest and civil disturbances that are causing further impac...

Southeast Asia: Regional insurtech Igloo extends Series B to US$46m

...China and India. With a mission of making insurance accessible for all, the firm leverages big data, real-time risk assessment, and end-to-end automated claims management to create B2B2C insurance so...

China: Manulife IM to take full control of joint venture

...China market....

Listed intermediary opens up operating platform to insurance agencies, may invest in 20-30 agencies

...;China’s life insurance industry is at a stage of profound transformation. While the traditional pyramid structure of the life insurance sales force is falling apart, life insurance sales teams...

Munich Re launches Shanghai-based innovation R&D Centre

...China Innovation R&D Centre, launched on 23 November 2022, will help bridge the supply and demand gaps that exist for new industry risks, and support the long-term development of China’s in...