Products and alliances

...product news with us: editor@asiainsurancereview.com  ...

Products and alliances

...product news with us: editor@asiainsurancereview.com  ...

Malaysia: Takaful market makes record payout of US$2.3bn in 2024

...product and service innovation will remain our focus, all with the aim of extending protection to the underserved and ensuring every Malaysian has access to a reliable social safety net.”...

Indonesia: Zurich unit promotes parametric takaful through traditional and digital channels

...product in 2022, the first-of-its-kind product for coffee farmers in Indonesia based on shariah. According to Zurich Syariah, the policy addresses financial vulnerabilities and acts as affordable, in...

Trump tariffs unleash uncertainty in GCC

...production in 2023 and 2024, coupled with geo-political risk premium resulting from conflicts in Europe and the Middle East.     Non-oil growth depends on c...

Momentum and market realities in takaful

...products and solutions featured on the World-Of-Takaful platform—such as wakala pools, takaful townhalls, parametric takaful and takaful telematics (which facilitates smart loss prevention and...

Philippines: Insurance watchdog issues umbrella investment guidelines

...products, debt securities issued by supranational organisations, and investment vehicles. The new CL mandates that each new allowable investment must meet minimum credit rating requirements or be lis...

Australia: Insurers warn govt's home guarantee plan jeopardises stability of the financial system

...product and may increase systemic financial risk, the Insurance Council of Australia (ICA) has said.   Lenders’ mortgage insurance (LMI) is a critical component...

Hype is over for insurance intermediaries

...product pricing assumptions (including fees and commissions) reported by insurance companies to the regulatory authorities for filing should be consistent with those implemented by insurance companie...

Hong Kong: Manulife launches two critical illness plans

...product officer Darren Thompson said, “With rising medical costs and the financial burden of critical illnesses, it is essential for Manulife to offer our customers accessible and holistic insu...

South Korea: Tongyang Life launches whole life insurance with long-term benefits

...product, Guardian Angel 5 Times Happier Whole Life Insurance, provides death coverage as the main contract with a 15-year premium payment term. It adopts a struct...

Indonesia: OJK cautions insurance sectors to stay vigilant amid asset growth and economic slowdown

...products and driving higher withdrawal rates by customers. Despite the challenges, the insurance industry continues to prosper, according to data from OJK....

India: Insurance Amendment Bill to be introduced by Finance Minister during monsoon season

...products from multiple insurers, moving away from the current exclusivity model. As part of a broader legislative overhaul, amendments will also be made to the Lif...

Senegal: Insurance sector grows but more can be done

...products and services as well as better communication with policyholders....

Egypt: Insurance federation cites areas of focus to promote agricultural insurance

...Product design...

Kenya: Prudential to recruit over 5,000 agents over next 5 years

...products,” said Prudential Kenya’s CEO Ms Gwen Kinisu....

Philippines: Pru Life UK targets partnerships with banks, fintechs

...products to be sold within the banks’ premises, with the approval of both the Insurance Commission and the Bangko Sentral ng Pilipinas.  “That is...

India: TATA AIG expands health plan for wider access

...product was designed to respond to evolving consumer demands.  “MediCare Select brings together value, versati...

West Africa: A tale of 3 insurance markets

...products on a large scale....

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

...product includes a death benefit payout, a critical illness add-on that features women-specific coverage, and an optional monthly income rider aimed at supporting children’s education. The poli...

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

...products and services.  The new offering will include solutions for savings, health protection and wealth accumulati...

Cambodia: Prudential and PPCBank extend partnership for another 5 years

...product – it's a promise of resilience, security, and brighter futures," he emphasised. The renewed MoU mar...

Singapore: Manulife's first-in-market plan offers superior flexibility and competitive returns

...product.   “With Signature Indexed Income, we are pioneering a solution for affluents and HNWIs seeking a...

Product bites

...product news with us: editor@asiainsurancereview.com  ...

Indonesia: Regulator studies formation of insurance consortium to cover online lending risks

...product scheme designed for online loans is still being studied by related parties, namely, the Indonesian General Insurance Association (AAUI) and the Indonesian Joint Funding FinTech Association (A...

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

...production of autonomous vehicles.   Mr Lei also proposed the establishment of a nationwide testing and verification system for autonomous vehicles, to put in place a...

Türkiye: Neova achieves substantial growth in 2024

...production of TRY13bn. This figure was 69% of total premiums in 2024. In addition, the agencies were divided into segments to provide more focused and efficient solutions.  ...

Pakistan: Salaam Family Takaful, Dubai Islamic Bank to offer innovative shariah-compliant financial solutions

...products with DIBPL’s extensive reach and commitment to excellence, we aim to provide customers with holistic financial security. Together, we are setting a new benchmark for Islamic financial...

Indonesia: Growth of family takaful business outpaces that of conventional life insurance in 2024

...products.   The 2024 contribution income from shariah insurance products represented 12.2% of the total premiums and contributions posted for 2024. &nbs...

Türkiye: Market growth of 72.5% in 2024

...production of participation insurance has increased by 75.8% compared to the same period of the previous year and amounted to TRY43bn, maintaining a market share of around 5%....

Nigeria: Insurance regulator NAICOM calls on insurance industry to develop cyber insurance

...products in response to increasing digital risks.   NAICOM head of communications and stakeholder management sub-committee Ebelechukwu Nwachukwu, said this at the Ins...

Morocco: Insurance market grows to $6bn in GWP in 2024

...products saw a jump of over 31% to MAD1.65bn.   As for non-life business, motor insurance reached MAD15.3bn in 2024, up by 6.2% from the past year and accounting for...

Jordan: Solidarity inks bancassurance agreement with Islamic International Arab Bank

...products and services to our customers, contributing to meeting their needs and aspirations. We are always keen to provide the best services to our customers.”  ...

Egypt: Insurance Federation and regulators to develop smart ship framework

...products will be designed to focus on cyber hacking, software failures and data loss risks.    There will also be reliance on big data analytics and artificial i...

Egypt: Regulator raises microinsurance coverage ceiling by 25%

...products by 25% to EGP 312,500 ($6,160) from EGP250,000.   The regulator said that the move was in response to economic changes and in line with the Unified Insurance...

Greener horizons for Middle East insurers

...products that support renewable energy projects, offering incentives for environmentally responsible behaviour and enhancing climate risk modelling capabilities.   ...

Market in growth mode

...products, while policies mandating insurance coverage for tourists further drive demand for travel health insurance.   “I’d like to see the regulatory aut...

Thailand: Bangkok Life Assurance and Bangkok Bank unveil new savings insurance plan

...product allows customers to pay premiums for only 10 years while receiving life coverage for 15. “Policyholders rece...

Korea: ABL Life introduces inheritance product with premium refund feature

...product offers two plan types based on the death benefit payment structure: Type 1 returns 100% of the insured amount...

Uganda: Insurers need to navigate transition to more diversified energy sector

...products tailored to green energy projects, carbon capture initiatives and clean technology investments, strengthening reinsurance capacity to handle large-scale claims, especially in complex energy...

India: Tata AIA's new plan offers flexible financial security, wealth creation

...Products, Business Mid Office and Digital Marketing, Tata AIA Life....

Global: Demand for Islamic finance expected to grow but sukuk issuance will likely decline in 2025

...products....

Kenya Re expands via international life reinsurance business

...product offering geographically and also by line of business, we minimise exposure to any single market or factor.” He said the plan is to expand across the continent before venturing into Asia...

Singapore: Women are more financially secure than ever, but challenges persist - survey

...products (46%).     This is also in line with how a majority of this group, when asked what financial...

Product bites

Oman: Takaful Oman, Oman Arab Bank form bancassurance partnership

...products tailored to both individual and corporate clients.    Oman Arab Bank customers can access Takaful Oman’s offerings through the bank’s networ...

Egypt: Misr Takaful surplus jumps by 247% in 2024

...production costs 28%.   Total investments of the operator increased by 60% to EGP831m by the end of June 2024, from EGP520m by the end of June 2023, and the company&r...

Burkina Faso: Takaful finds its way to the market

...products after receiving approval from the Regional Insurance Supervision Commission, the insurance regulatory body of the Inter-African Insurance Markets Conference. Coris Assurances will be offerin...

Global: Cyber market pegged at $16.6bn in 2024

...products.    The report also investigated the aggregation potential these regions presented through the broker’s vendor model partners. It concluded that d...

Global: Opportunities amid dynamic risk environment

...product, industry and geography specific. These micro markets are at different stages of their respective cycles.    Current easing market conditions could swift...