The Insurance Regulatory and Development Authority of India (IRDAI) held deliberations with insurance companies on the pricing and other modalities of the all-in-one affordable insurance product, Bima Vistaar.
China's insurance sector is expected to double in size in the coming decade amid robust economic growth, making the country a more significant market for Swiss Re, according to Mr Christian Mumenthaler, CEO of Swiss Re Group.
Mid-tier non-life insurer Tower is expected to decrease its expense ratio over the medium term as the company grows its premium base and improves efficiency through IT transformation, according to AM Best.
A majority stake in Lotte Insurance, South Korea's seventh biggest non-life insurer, has been placed for sale for over KRW2tn ($1.45bn).
Insurance business in the low-altitude economy is expected to take off as demand grows for related services and regulations are gradually improved which facilitates growth.
Sunlight Agricultural Mutual Insurance (SAM) is highly exposed to catastrophe risk in Heilongjiang province, particularly flooding and drought, given its high business concentration in agricultural insurance and Heilongjiang, says Moody's Ratings.
Ping An Insurance (Group) Company of China (Ping An) has announced that its net profit attributable to shareholders stood at CNY36,709m ($5,071m) in the first quarter of this year, a fall of 4.3% compared to the corresponding quarter of 2023.
Apart from outlining the main goals of green insurance development on both the asset and liability sides, the National Financial Regulatory Administration (NAFR) has spelt out the specific responsibilities of insurers in green insurance development.
Consumers in China rank health risk protection as their first priority in insurance purchases, leading to critical illness (CI) insurance being the product with the highest ownership rate in 2023.
Insurance rates in the first quarter of 2024 in Asia declined 2% after being flat for the three prior quarters, according to the "Global Insurance Market Index" published by the world's biggest insurance broking group Marsh.