New business premiums derived from mainland Chinese visitors (MCVs) was HK$15.6bn ($2bn) in 1Q2024, more than 60% higher than in the corresponding quarter of 2023, according to data from the Hong Kong Insurance Authority.
The National Financial Regulatory Administration (NFRA) has released guidelines for promoting the development of inclusive insurance to better meet the needs of the people and the real economy.
Life insurers in China are expected to maintain healthy premium growth and have better new business value growth and margins in 2024, after reporting a year-on-year premium growth of 12% in 4M2024 (2023: 10%), says Fitch Ratings.
Japan's life insurers' capital adequacy will remain appropriate for their ratings for the foreseeable future, thanks largely to consistent accumulation of core capital, forecasts Fitch Ratings.
Billionaire Richard Li has revived plans to list pan-Asian insurer FWD Group in Hong Kong, reported Reuters quoting three people with direct knowledge of the matter, after regulatory delay and market volatility scuppered previous attempts to take it public.
Punjab National Bank (PNB) has announced that it will sell a 10% stake in Canara HSBC Life Insurance Company in an initial public offer of shares in the insurer.
The Insurance Authority (AI) has approved on 2 June an application from Salama Cooperative Insurance Company to increase its capital by SAR100m ($26.7m) via a rights issue.
Sun Life Assurance Company of Canada Singapore Branch (Sun Life Singapore), in collaboration with global sport for social change foundation, Beyond Sport, is leveraging basketball and education to foster healthier communities in Singapore.
The Indonesian Life Insurance Association (AAJI) has announced that the life market chalked up premium income of IDR46tn ($2.8bn) in the first quarter of 2024.
A new company has applied for a life insurance licence in the Bangladeshi market where there are already 36 life insurers, several of which are loss-making.