Breaking Insurance Industry News - Asia Insurance Review
WEBNon-Life. Asia expected to account for 16% of 2024 estimated global insured Nat CAT losses of US$151bn. Macau: General insurer upbeat about 2024 growth. Australia: Non-life insurance body issues roadmap to address talent shortage.
News - Asia Insurance Review
WEBNov 28, 2023 · Taiwan: Non-life market recovers capital strength, earning "Stable' outlook. Asia Pacific: Region maintains 28% share of global marine insurance premiums. Japan: Life insurance product trends change on higher interest rates. Bangladesh: Insurance market to see changes amid state reforms. Japan: Howden enters …
Taiwan: Shin Kong Life shows weak, but improving, earnings
WEBAug 12, 2024 · Other News. Taiwan: Shin Kong back in the black, sticks to plan to merge with Taishin Taiwan: Life giant posts 236% jump in 1H net profit, with FX risk management seen as vital Taiwan: Insurance industry sees pre-tax profits soar in 1H2024 Taiwan: Negative spread between investment yields and liability costs narrows at Nan Shan Life Taiwan: Cathay Life continues to contribute most profits to ...
How has MFRS17 has affected Malaysian insurers and takaful …
WEBAug 7, 2024 · Malaysia Asia Regulation. When asked how MFRS17 has affected Malaysian insurers and takaful operators since its implementation, Christopher & Lee Ong partner Chelsea Chan said that "most companies are seen to be enhancing and upgrading their legacy systems to comply" with the new standard.
India: Loss-making state-owned general insurer aims to generate …
WEBAug 19, 2024 · India Property & Casualty Financial Performance. Government-owned general insurer National Insurance Company (NIC) is aiming to return to profit in the current fiscal year ending 31 March 2025 (FY2025), after incurring losses for nearly a decade, one of the company's directors said.
Singapore: Life insurance market sees nearly 27% jump in new …
WEBAug 14, 2024 · Singapore Life & Health Financial Performance. Singapore's life insurance industry achieved a total of S$2.77bn ($2.12bn) in weighted new business premiums for 1H2024, an increase of 26.6% compared to the corresponding period a year ago, announced the Life Insurance Association, Singapore (LIA Singapore).
Hong Kong risk-based capital for insurers - Risk - RBC
WEBThe Insurance Authority (IA) in Hong Kong is developing its capital framework toward a risk-based capital regime that is tailored for the Hong Kong insurance industry (HK RBC) and is consistent with relevant insurance core principles issued by the International Association of Insurance Supervisors (IAIS). Once in effect, it will significantly ...
Mandatory motor third-party liability insurance business posts ...
WEBAug 19, 2022 · Insurers that undertook compulsory motor third-party liability (CMTPL) insurance in 2021 saw the branch's underwriting results plunge into the red to a loss of CNY4.4bn ($648m) from a gain of CNY12.8bn in 2020, according to data from the CBIRC.
Singapore: Inaugural Insurance Trust Indicator Study shows good …
WEBJul 27, 2023 · The inaugural Insurance Trust Indicator Study (ITIS) shows that consumers and businesses have good levels of trust in the insurance industry in Singapore, with all the trust scores in the moderate to strong range.
News - Asia Insurance Review
WEBThe Independent Code Review Committee has issued its interim report on its review of the General Insurance Code of Practice, which contains 104 recommendations which cover a number of areas, including financial hardship, customer vulnerability, claims handling, enforceability and governance.
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