The new employment scheme offers basic pay, CPF contributions, comprehensive skills training, full-time employment benefits and a flexible working arrangement.
The insurance regulator has asked insurance companies to emulate the banking industry's strategy for financial inclusion. Under this strategy, companies would adopt individual states as lead insurers.
New York-listed Chubb has completed its acquisition of the life and non-life insurance companies that house the personal accident, supplemental health and life insurance business of Cigna in six Asia-Pacific markets.
Turkiye's insurance association is in talks with the country's Treasury on a potential inflation-indexed bond issue, the group's head told Reuters, as insurers seek a new mechanism to protect their capital from soaring inflation.
China's mortality protection gap widened by 14% year-on-year to $65.6tn in 2020, and by a further 21% to $79.5tn in 2021, says Swiss Re Institute.
Regulatory changes that were implemented at the beginning of this year relating to online insurance sales have been absorbed by the insurance market, according to Mr Ronald Tam, co-CFO of Nasdaq-listed Huize Holding, a leading digital insurance product and service platform for new generation consumers in China.
More and more commercial urban inclusive medical insurance schemes (huiminbao) are adding imported special pharmaceuticals to their coverage, rendering the policies no longer inclusive because of high costs and exclusions.
Huize Holding, a Nasdaq-listed independent online insurance product and service platform company in China, has said that it expects to post quarterly profits in the second half of 2022, following the company's preliminary assessment of current market conditions.
Amidst the shrinking of the agency channel in the Chinese insurance market, top-performing life insurance agents maintained good results last year, increasing their membership in the Million Dollar Round Table (MDRT) to 13,200 from 9,848 in 2020, according to a white paper released last week by the Taikang Insurance Group.
Swiss Re Institute says in a new sigma report released yesterday that it expects scaled-back government benefits and declining asset values to erode insurance resilience overall while insurance protection is still growing strongly in 2022.