The increased frequency and severity of natural catastrophes due to climate change highlight the greater role of Asian reinsurers in bridging the region's protection gap between the economic losses brought about by natural disasters and insured losses, Fitch Ratings says.
South Korea's top life insurer Samsung Life Insurance saw its net profit climb by 71.6% for the first half of the year to KRW1.23tn ($1.05bn), compared to the corresponding half last year.
Marsh has entered into a new partnership with Amazon to help small business sellers get affordable product liability coverage on its new digital insurance network, Amazon Insurance Accelerator.
Allianz Insurance Asset Management (Allianz China IAMC) has received license from the CBIRC to be established as the first wholly foreign-owned insurance asset management company in China.
China will continue to open up its financial sector and improve rules for foreign banks and insurers entering the market.
The Shenzhen subsidiary of Ping An Property Insurance and the Bank of China branch in Shenzhen have issued the country's first "digital yuan insurance policy".
Acccording to the latest sigma report titled “World insurance: the recovery gains pace” by Swiss Re, many respondents to a consumer survey feel under-insured and aim to buy more protection, despite most owning medical and life insurance.
Fitch Ratings has conducted a peer review of six composite insurers in the Asia Pacific region and assessed their profitability to be 'Very Strong' to 'Good'.
Sixteen winners from six markets were honoured at the 6th Asia Trusted Life Agents & Advisers Awards (the Awards) ceremony. The deserving winners edged out over 280 nominations from 17 markets. Winners emerged from Hong Kong, Vietnam, Singapore, Thailand and Taiwan, and came from leading insurance companies including AIA, Cathay Life, Manulife, Nan Shan Life, and Prudential.
The global reinsurance market is approaching equilibrium, or so says a new report from Willis Re, the reinsurance division of Willis Towers Watson.
