China insurance industry rebounds on life business growth
In January, the insurance industry achieved gross premium income of CNY1.01tn ($155bn), a year-on-year increase of 11.16%, according to data released by the CBIRC.
The impacts of COVID-19 on Singapore’s insurance market
As Singapore aims to recover from the COVID-19 crisis, a report by Aon has noted an increase in shorter-term and micro-insurance products in the market, as a response to the current risk-averse environment.
How insurers keep up with rising cyberattacks
Cyberattacks are on the rise, and so are the financial losses that can follow in their wake, according to a new S&P Global Ratings report on the cyber insurance market.
Run-off market ready to thrive in 2021
Insurance and legal professionals expect to see an increasing number of run-off deals this year, according to a new report by Global Insurance Law Connect (GILC). The report looked into the drivers of legacy business in both mature and emerging markets, collecting data from member firms in 20 countries.
Commercial insurance prices continue to rise in Q4 of 2020
Another quarter brings another round of price increases for global commercial insurance. This time, prices jumped by 22% in Q4 of 2020, according to Marsh’s “Global Insurance Market Index.” The latest increase is the largest since the index was launched in 2012, and it comes on the back of year-on-year average increases of 20% in the third quarter and 19% in the second quarter of 2020.
Business confidence of Singapore SMEs in 2021
Singapore’s small and medium enterprises (SMEs) are expecting to lean heavily on government support in 2021 to weather the economic downturn caused by the COVID-19 pandemic, according to a survey by QBE Insurance.
Europe must alter capital rules for climate
European regulators need to overhaul their capital rules to free up insurers to invest more in climate-friendly infrastructure projects, the chief executive of German insurer Allianz said at a virtual meeting of the World Economic Forum discussing how to finance the low-carbon transition.
The impact of China’s solvency management changes
The CBIRC's changes to the solvency management of China's insurance sector are a positive step, particularly in the reinforcement of balance sheet strength and the development of enterprise risk management, says AM Best. The changes will go into effect 1 March.
Allianz to form wholly-owned China subsidiary
Allianz (China) Insurance Holdings has received approval from the country’s banking and insurance regulator to establish a wholly-owned insurance asset management company.
Asia-Pacific liability insurance market to grow annually
Research conducted by GlobalData shows that the liability insurance industry in Asia-Pacific is expected to grow at a compound annual growth rate (CAGR) of 3.8%, from US$28.8 billion in 2019 to US$33.4 billion in 2023, in terms of written premiums.