In 2022, the insurance industry's health insurance premium income reached CNY865.3bn, a year-on-year increase of 2.4%, and the growth rate, which has been sliding, is predicted to fall further. At the same time, the premium growth rates of the health insurance business of life insurance companies and property insurance companies are markedly different.
The premium income of the mainland Chinese insurance industry stood at CNY1.02tn ($149bn) in the first month of this year, representing a year-on-year increase of 3.8%, according to statistics released by the CBIRC on 21 March.
Diabetes prevalence in adults aged 20-79 years in China is projected to increase from 8.2% to 9.7% during 2020-2030, particularly in northern China, according to a recent study whose findings were released last month.
The Dajia Insurance Group has established its first private equity investment fund targeted at the healthcare and pension sectors. The fund size is CNY5bn ($733m)
Max Life Insurance Company has unveiled the findings of its first-ever rural edition of its flagship survey India Protection Quotient survey (IPQ) which indicate, among several things, that only 22% of India's rural population own life insurance products, compared to 73% across urban India.
The International Insurance Society (IIS) has named Dr Chang-Jae Shin, MD, the trailblazing chairman and CEO of the Korea-based Kyobo Life Insurance Company, the 2023 Insurance Hall of Fame Laureate.
The insurance sector in Taiwan has the highest exposure to Credit Suisse at NT$108.2bn ($3.6bn) as of the end of January 2023, according to data from the Financial Supervisory Commission (FSC).
Among the several positive factors in the insurance markets of the Middle East, including Egypt, are increased demand for reinsurance and the desire of insurance companies to ensure sufficient capacity to meet the needs of their business, according to Ms Catherine Thomas, senior director of analytics at AM Best.
Muang Thai Life Assurance (MTL) has launched a wellness and lifestyle application named MTL Fit that offers customers up to 15% premium discounts.
A new survey conducted across 113 villages in India has found that only 22% of India's rural population owns life insurance products compared to 73% across urban India.