Global: SCOR appoints new CEO of life and health

...SCOR has appointed Mr Philipp Rüede as CEO for life and health (L&H) and member of the executive committee, effective 1 June 2025....

India: Insurer launches AI-powered tool to help assess health insurance coverage needs

...lifestyle. It has the ability to calculate the exact amount of insurance coverage aligning with the customer’s specific requirements and users are guided through a series of questions that anal...

Saudi Arabia: Wataniya expected to maintain strong profitability despite competition

...-life combined ratio remained strong, although this slightly deteriorated to 96% in 2024, from 94% in 2023, due primarily to underwriting losses in the motor compulsory line caused by price competitio...

Industry highlights this week

...life insurance pricing rate by September On April 21, the Expert Advisory Committee on the Assessment Rate of Liability Reserves in the Life Insurance Industry in China announced t...

China's first cross-border e-commerce insurance pilot launched

...Life P&C, CPIC P&C, Taiping P&C, and Dajia P&C—who form a joint underwriting pool guided by market principles. The consortium enables information sharing, risk dispersion, and g...

Asia: Lots of room for lifers to close savings and retirement gap

...life insurers can play a role in addressing a retirement savings gap that is estimated to nearly quadruple to a combined $483tn across major markets by 2050....

Prospects bright for digital health underwriting

...life and health (L&H) needs,” she said....

Cambodia: Insurance premiums continue to grow

...life line of business continues to drive the sector, as it generated $200.2m in premiums in 2024, as compared to the $148m accounted for in general insurance. Microinsurance brought in $8.8m....

Hong Kong: Manulife and JUST FEEL launch charity partnership

...life's partnership with JUST FEEL will enable close collaboration with partner schools to foster a "Compassionate School Culture" among students, teachers, and parents....

UAE: Dubai National Insurance caters to the blue-collar workforce

...life insurance policies for their blue-collar workforce through DNI....

Korea: Caregiver health insurance coverage to see major reductions starting in May

...life insurance companies to revise their caregiver coverage products, limiting caregiver services to only severely ill patients. The Financial Supervisory Service...

Vietnam: More coverage and stricter claim rules under revised health insurance law

...life and work. Further to that, from 1 July, patients with serious or rare diseases can now access medical exams and treatment without needing a referral....

Egypt: Bupa survey reveals that investing in employee well-being boosts productivity and loyalty

...A large proportion of employees believe that mental health support programmes and work-life balance are essential factors in motivating employees and increasing staff loyalty, according to the findings of a survey released by Bupa Egypt Insurance....

India: Over 75% uninsured Indians ignorant of the real costs of life and health crises

...life insurance cover of 15-20 times one’s annual income to ensure that dependents can sustain themselves for at least 10 years. Only 13% of non-buyers accurately estimate their insurance needs...

Singapore: Income awards JP Morgan full securities services mandate

...life, health and general insurance. Income Insurance has over S$40bn ($30.4bn) in assets under management....

Asia: Japan ranks tops in insurance availability, accessibility and affordability

...life and health (L&H) insurance needs...

Australia: Hannover Re to buy Swiss Re's Australian direct life insurance portfolio

...Hannover Life Re of Australasia (HLR Aus), a unit of Hannover Re, has agreed to acquire the Australian direct life insurance portfolio from Swiss Re Life & Health Australia, operating under the iptiQ brand....

India: Health insurance drives non-life segment

...-life insurance industry reported a 6.2% y-o-y increase in gross direct premium in 2025, reaching INR3.08tr ($36bn).  Non-life insurers continue to dominate with an 83.9% market share, whereas st...

India: Bajaj Allianz Life unveils all-in-one policy for women

...Life Superwoman Term (SWT), incorporates elements beyond traditional life cover, aiming to address health, child care, and financial planning concerns in a single insurance solution. ...

New Zealand: Kiwis prioritise health more now than before

...life insurer nib New Zealand found that more adults (72%) say they are committed to keeping up with health screenings (up from 66%) and more children are up to date with common screening tests such a...

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

...life and savings products – including the FortuneXtra Savings Plan, Wealth Ultra Savings Plan, Max Wealth Insurance Plan and Max Goal Insurance Plan – will be introduced on Ant Bank and i...

Turkiye: Premiums in insurance market expected to rise by 35-40% in 2025

...life branches, and TRY...

India: Health insurance coverage likely to hit 50% this year

...In its report, titled "India's Healthcare Expenditure Expected to Surge from 3.3% to 5% of its GDP by 2030", CareEdge Ratings noted that it anticipates substantial growth in India's healthcare infrastructure and related workforce in the coming years, driven by demand tailwinds and policy support from the government....

Japan: Tokio Marine rebrands healthcare unit with new platform service

...life for people by providing new health improvement services to employees of companies and organisations. These services will be centred on t...

South Africa: Risk policy lapse rate is down but remains too high

...life insurers maintained a solvency buffer of 1.99, even after paying claims and benefit payments worth ZAR639b...

Asia: Sun Life launches second year of "Hoops + Health" programme

...Life will increase its investment from C$1 million to C$1.5 million, underscoring its commitment to combating rising youth physical inactivity, which is a significant risk factor for chronic conditio...

Philippines: Regulator urges gender-responsive policies amid rising healthcare costs

...The Philippine Insurance Commission (IC) is encouraging insurance companies and health maintenance organisations (HMOs) to explore offering more gender-responsive policies, considering anticipated increases in healthcare costs nationwide....

India: Delhi joins Ayushman Bharat PM-JAY, extending free health coverage to 3.6m residents

...Delhi has officially joined the Ayushman Bharat Pradhan Mantri Jan Arogya Yojana (AB PM-JAY), a step that will offer free health insurance to nearly 3.6m people....

CITIC Prudential Life focuses on more resilient affluent segment of mainland Chinese market

...CITIC Prudential Life (CPL), a 50-50 joint venture between Prudential plc and CITIC, a leading Chinese state-owned conglomerate, is focused on the affluent and advanced affluent segments of the mainland Chinese market, according to Hong Kong headquartered insurance group Prudential....

Australia: COVID-19 deaths five times higher than for flu in 2024

...Five times as many Australians are dying from COVID-19 than influenza five years after the outbreak of the global pandemic, research published by the Actuaries Institute shows....

Hong Kong: Insurers look into healthcare ecosystem as medical costs surge

...The Hong Kong Federation of Insurers (HKFI) says that it is conducting an internal holistic review of the current healthcare ecosystem and will be providing recommendations from an insurance perspective....

India: Reinsurance opportunities in a fast-growing market

Taiwan: Shin Kong and Taishin merger approved by financial regulator

...Life Insurance, which ranks as Taiwan’s fourth biggest life insurer. It also has a non-life unit called Shin Kong Insurance which is Taiwan’s third largest general insurer based on gross...

APAC: Aon announces appointments

...In the APAC region, Aon has appointed Mr Soeren Soltysiak as Asia CEO of Reinsurance Solutions, Mr Musa Adlan as managing director, Asia, for Reinsurance Solutions, Mr Pierre Vende and Mr Danny Alexander as co-heads of life and health Reinsurance Solutions, Ms Soojin Kim and Ms Cindy Gu as co-heads of retrocession APAC for Reinsurance Solutions and Mr Tom Drake as chairman of Reinsurance Solutions Speciality, APAC....

Hong Kong: Insurer's commitment to decarbonisation validated

...life insurer’s carbon reduction targets have been officially validated by the Science Based Targets initiative (SBTi), a corporate climate action organisation that enables businesses worldwide...

Vietnam: Life insurance sector set to slide in 2025

...life insurance market is largely due to irregularities in distribution practices. Problems such as misleading commitments, unclear policy terms, mis-selling, and bundling life insurance with bank loa...

India: Peak Re receives branch licence in GIFT International Financial Services Centre

...Life & health business. Category 2 entities include foreign reinsurance branches and IIOs that&nbs...

More than 80% of Indians underestimate their life cover needs

...Life Insurance in collaboration with NielsenIQ, reveals that one in three Indians has never reviewed his/her life insurance coverage, even af...

Thailand: Life market to see stable growth of 2-3% in 2025

...Life Assurance Association (TLAA) has forecast that total insurance premiums this year will rise by 2-3%, following growth of 3.23% in 2024.   TLAA president Nusara B...

India: Regulator allows insurers to hedge through equity derivatives

...life funds; pension, annuity and group funds; and investment assets of general or health insurers. A robust corporate governance mechanism must be put in place for dealing in derivatives. Insurers ha...

View from India - Will air pollution dictate health insurance premiums?

...lifestyle.”   Penetration rate Responding to a query about technology adoption, distribution m...

Health insurance in HK has to navigate demanding road ahead

...life and health insurance industry, even as healthcare costs and resulting claims continue to rise, customer behaviour is also undergoing a shift from offline to online, according to...

2024 - A milestone year for regional insurers in Asia

...life & health contributing EUR6.8bn, a 16% increase from 2023 and property & casualty increasing by 11% to reach EUR2bn.    The company’s total ope...

Future partnerships for life reinsurers call for combined capabilities

...life insurance companies to focus more on core competencies, to drive growth while ensuring sustainable dividends for investors. This translates into a shift towards new strategic partnerships that c...

Life reinsurance broking beckons as a new and dynamic space

...life reinsurance broking is a dynamic space where the market is evolving quickly, as insurers shift to balance sheet management and business expansion against a backdrop of changing regulations and h...

Push for implementation of country-wide long term care insurance

...life. Insurers are slowly but surely stepping in with innovative long-term care insurance covers and services. By Anoop Khanna  ...

Qianhai Re sees growth in offering tech-driven solutions

...life and non-life reinsurance sectors in China, Ms Liu said that both segments are undergoing significant transformation: Life and health reinsurance: The focus i...

Biggest insurers expect surge in net profits in 2024

...life & health business through Ping An Life, Ping An Annuity, and Ping An Health Insurance. This business contributed CNY92,907m to the group’s net profits in 2024. Net profit attributable...

Life insurers strategise for long-term future

...life insurance industry builds on its strong recovery from 2024. This article outlines the state of the life market in China and prospects ahead. By Vincent...

UAE: Sukoon set to tap government's insurance initiatives for growth

...life across the country, according to a report of the board of directors of Sukoon Insurance.   The report, which forms part of the company’s ‘Integrated...