Global reinsurance capital shows signs of growth
Total global reinsurance capital stood at US$658 billion at year-end 2020, reflecting 7% year-on-year growth, according to a report by Willis Re.
Climate change driving energy’s risk transformation
Climate change and the resulting energy transition are the major drivers of transformation in the energy industry risk landscape, according to a report by Willis Towers Watson.
China online property insurance premiums to fall
China's online property insurance industry saw a decline in earnings last year, industry data showed.
Hong Kong adjusts premium levy rate to 0.1%
The Hong Kong Insurance Authority (IA) has increased the premium levy rate on insurance policies to 0.1% per year, effective April 01, 2021. This is in accordance with the schedule set out in the Insurance (Levy) Order under the Insurance Ordinance (Cap. 41), the regulator said in its announcement.
Pandemic triggers higher insurance premiums in Singapore
Singaporean businesses are now paying higher insurance premiums, with the increase attributed to the effects of the COVID-19 pandemic.
AXA Malaysia launches benefit for total vehicle loss
AXA Affin General Insurance has launched Guaranteed Asset Protection – Return to Insured Value (GAP-RTIV), a plan that protects the full value of a vehicle in the event of a total loss incident.
April 01 renewals “more of the same”
The April 01 international reinsurance renewal followed trends set earlier in the season, with market pricing remaining firm in almost all classes and territories, according to the latest 1st View report by Willis Re.
Swiss Re highlights total global insured loss in 2020
Global insured losses in 2020 were US$89 billion, making last year the fifth-costliest year on sigma records since 1970, according to a new sigma report from the Swiss Re Institute.
Cigna extends COVID-19 support in Hong Kong
Cigna Hong Kong has announced additional benefits and an extension of special coverage measures for its customers in the special administrative region in response to the ongoing COVID-19 outbreak.
Chubb & DBS provide free cover for COVID-19 vaccination
DBS and Chubb Insurance Singapore have partnered to provide DBS and POSB customers with complimentary insurance cover for complications caused by vaccinations against COVID-19.
China sees increase in online insurance premiums
Buying personal insurance online is becoming more popular in China, with premiums increasing by 13.6% year on year, according to data from the Insurance Association of China.
WTW introduces cyber cover for power & utilities firms
Willis Towers Watson has introduced CyNat, a cyber insurance product designed specifically for companies in the power and utilities industries.
China revises rules on foreign holdings in insurers
China's top insurance regulator, the CBIRC, announced last Friday that new national security reviews have been added to rules on foreign ownership in an insurance business even as it removes the 51% cap on foreign ownership.
Climate change stress tests on the horizon
Banks and insurers around the world are likely to face climate-related stress tests in the next two to three years as supervisors become increasingly aware of the urgency in gauging the risks from climate change, Fitch Ratings says in a new report.
Is insurance sector able to cope with new tech risks?
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