Q1 NEV premiums surge 44% as insurers accelerate into the intelligent driving era

...China’s national classification system, vehicle automation is categorized from Level 0 to Level 5. Several top insurers are now designing insurance products tailored for L3 and above, anticipat...

Redefining reinsurance: Qianhai Re's vision for China and beyond (Part 1)

...Step into the fast-changing world of China's reinsurance industry in our exclusive interview with Qianhai Re vice president Ms. Liu Hong. She shares how her company is weaving technology into every part of its operations-from underwriting to risk control-while expanding its footprint across mainland China, Hong Kong, and global markets. Gain insights into China's drive to build a world-class reinsurance hub, and discover how Qianhai Re is bridging regions and driving innovation to shape the future of reinsurance....

China: Zhibao Technology establishes reinsurance operations

...China from the Labuan Financial Services Authority on 14 April 2025. The new reinsurance arm will enable the company to potentially tap into an additional revenue...

Philippines: Pru Life UK targets partnerships with banks, fintechs

...China Bank and Sun Life and Rizal Commercial Banking Corp., among others. Mr Wadhwani said regulators should be able to create frameworks that allow companies lik...

Hong Kong: AXA partners with Ant Bank and AlipayHK to offer embedded insurance

...China CEO Sally Wan?said, “We are honoured to become a strategic partner of Ant Bank and AlipayHK, leveraging synergies to create new opportunities and achieve multiple benefits for all parties...

Asia: Prudential appoints new regional CEO

...China, with responsibility for customer and wealth Mr Dennis Tan will continue as regional CEO for Singapore and Thailand, with responsibility for partnershi...

China: Cheche Group to entrench itself deeper in NEV value chain

...China surged to 12.9m units in 2024, marking a 35.5% increase from the previous year. “This trend underscores the immense market opportunity for our company to innovate and expand our auto Insu...

China Re reports solid premium growth and improved profitability in 2024

...China Re P&C (225%), China Re Life (208%), and Continent Insurance (285%). The group's consolidated ratio stood at 194%. China Re maintained S&P's "A" rating for 11 consecut...

People on the move

...China.    Mr Shah will also be responsible for driving QBE’s Asia wholesale strategy.   He will continue to serve in his c...

China: Xiaomi chairman calls for dedicated insurance system for autonomous vehicles

...China Daily quoting Mr Lei. This framework would clarify the legal status of autonomous vehicles on public roads and provide a solid foundation for their widespread use.   ...

2024 - A milestone year for regional insurers in Asia

...China, its two biggest markets making up 63% of new businesses, recorded strong growth in 2024.   Value of new business in Hong Kong rose 23% year on year to a record...

Labuan Re looks to growth through creating demand

...China, generally, capital has always been an issue. Hence getting involved in ‘attritional’ layers in treaties and facultative is always challenging.   ...

The growing issue with NEV insurance costs and coverage

...China are soaring, and coverage remains an issue, with both insurers and policyholders displeased with the current situation. The root causes behind these issues go beyond the surface and the solutio...

Global: Cigna Healthcare announces new appointments

...China and Australia, driving accelerated growth across the region and identify opportunities for greater leverage among markets. Mr Peat has been with Cigna Healt...

Weekly industry regulatory updates

...China Life, Taiping Life, New China Life, and Ping An Life, to participate in a long-term investment reform pilot program, with a total scale of CNY600bn ($82.9bn). So far, eight insurers have been a...

Industry highlights this week

...These are the highlights for all events and updates across the industry this week....

Allianz Asia delivers strong FY2024 performance

...China (+31%), and Thailand (+24%). Annualised new premiums also grew 12% to EUR1.2bn, with gains from Taiwan (+27%), Malaysia (+15%), and Thailand (+13%). “...

AXA Climate School fosters young talent in Hong Kong

...China CEO Sally Wan said in a statement....

Asia: QBE announces new CEO of wholesale markets

...China. Mr Shah will also be responsible for driving QBE’s Asia wholesale strategy, leveraging the firm’s underwriting expertise, deep market knowledge...

Insurers continue to focus on ESG

...China’s own version of ChatGPT – Deepseek – was announced to the world. Its purported ability to operate at a fraction of the cost that other AI models did, caused the stocks of chi...

Saudi Arabia: MedGulf forms partnerships with 3 Chinese insurance giants

...China Pacific Insurance (CPIC) and The People's Insurance Company of China (PICC)....

UAE: DIFC announces sterling growth as it marks 20th anniversary

...China Taiping Insurance, Mahindra Insurance Brokers, and Nexus Underwriting. Other financial institutions which were established last year in the DIFC included Bank of Communications, Bluecrest, Blue...

People on the move

...China, MENA, Africa, cyber chief executive Roland Eckl. ...

People on the move

...China: Munich Re appoints new CEO Munich Re has appointed Mr Adrian Goh as CEO of its Beijing Branch, effective 1 April 2025 and subject to regulatory a...

Hong Kong: Insurer signs bancassurance deal to serve high-net-worth clients

...China Mr Ken Lau said the partnership underscores the potential for mutual growth. He said, “Together, we will bring bank customers a wide range of insurance solutions and services to enhance w...

Malaysia: Rising costs forcing more Malaysians to delay retirement

...China, Hong Kong, Indonesia, the Philippines, Singapore, and Vietnam as well. Sun Life Malaysia CEO Raymond Lew said the number of people who had postponed their retirement plans paints a s...

Hong Kong: FWD secures bancassurance deal to serve high-net-worth clients

...China and CEO of FWD Hong Kong, said the partnership underscores the potential for mutual growth.  “Together,...

Hong Kong: Locals contribute the most to life insurance sales but buyers from Middle East, Southeast Asia too chip in

...China. According to the IA, mainland customers snapped up Hong Kong’s coverage as hedges against the yuan’s depreciating value against the US dollar, helping to spur the city&rs...

Singapore: HSBC Life appoints new chief agency development officer

...China....

Growth opportunities abound for smart insurance brokers

...China and India?   “Absolutely,” said Mr Wilson. “Tysers has a long-standing reputation and strong presence in Bangladesh and we are probably its pr...

People on the move

...China, South Korea and Vietnam. He will also be a member of the group executive committee.    Mr Zhang joined AIA China in 2000 and became CEO in 2017....

Three focus areas for APAC insurance leaders in 2025

...China and the US, are reshaping market strategies and partially driving supply chain shifts to ASEAN countries and India, say Oliver Wyman’s...

Brand matters

...China Re for the first time, while Taiping Re rounded out the Top 10, highlighting the growing strength of regional firms RenRe (now including Validus Re) and Berkley Re saw the largest ra...

Growth opportunities abound for smart insurance brokers

...China and India?   “Absolutely,” said Mr Wilson. “Tysers has a long-standing reputation and strong presence in Bangladesh and we are probably its pr...

APRIL works with AIG to step up presence in China

...China, APRIL International has chosen to draw on the expertise of its long-standing strategic insurance partner, AIG, says the French group in a statement. Combining APRIL's strength in designing...

Huize applies for insurance brokerage licence in Singapore

...Huize Holding, a Nasdaq-listed InsurTech platform company, has said that it is in the process of applying for an insurance brokerage licence in Singapore, with plans to further develop high-end insurance services in the Southeast Asian region....

Regulator licenses new insurer reportedly to take over operations of insolvent digital underwriter

...China. Its shareholders then are mainly Beijing-based privately-held companies. However, the insurer has incurred persistent losses. Its management was also unstable and several senior executives qui...

AXA and PICC agree to cooperate on global stage

...China. The signing was witnessed by Mr Zhao Peng, p...

People on the move

...China  Captain Harshvardhan Kumar as director – marine technical services in Australia Mr Ong Eng Hong as marine surveyor in Singapo...

Asia Insurance Industry Awards 2024 winners revealed

Actuaries are the bridge between technology and risk

...China managing director Daisy Ning began her address by saying, “Hong Kong presents enormous opportunities. The market has shown a real rebound.”   The mo...

Chinese InsurTech weighs Hong Kong re-listing amid challenges

...;China’s first listed InsurTech company’ when it went public on the NYSE in 2021, announced that it is exploring relisting in Hong Kong. Since its US debut, Waterdrop’s stock has fal...

NEV insurance premiums surge with new entrants

...China’s cities, and new Chinese car makers entering the industry are helping meet demand. However, this has led to a surge in premium pricing, as insurers consider the emerging risks of these v...

Asia insurance is on the cusp of transition

...China and Singapore has significantly raised the bar on underwriting precision, enhanced fraud detection, and increased the velocity of claims processing.    The...

You cannot fight macroeconomics

...China and 20% elsewhere – can only lead to retaliation which would result in a swift decline in world trade and output.   Informed estimates suggest that this w...

Motor InsurTech eyes SE Asia and Middle East markets to serve Chinese NEV manufacturers overseas

...China, including Nio, BAIC, Dongfeng Motor, Shanghai Jidu Automobile and Great Wall Motor....

Asia: AIA appoints new regional chief executive

...China, South Korea and Vietnam. He will also be a member of the Group Executive Committee. Mr Zhang joined AIA China in 2000 and became CEO in 2017....

Insurance CEOs voice confidence that business will grow over the next 3 years

...China, France, Germany, India, Italy, Japan, Spain, UK and US) and 11 key industry sectors, including insurance. The best-represented countries based on organisational headq...

Asia Pacific: Allianz maintains momentum with double-digit growth in first 3 quarters

...China, India, Indonesia, Laos, Malaysia, Philippines, Singapore, Sri Lanka, Taiwan, and Thailand....

Higher vehicle sales drive up new-energy vehicle insurance premiums

...China Passenger Car Association, in the first nine months of this year, the production and sales of new energy vehicles reached 8.316m and 8.32m respectively, up by 31.7% and 32.5% year-on-year respe...