China's commercial health insurance market is undergoing a pivotal transformation. Premiums surged from CNY158.7bn ($21.9bn) in 2014 to CNY977.3bn in 2024, representing a CAGR of 20%, according to a new report jointly released by Swiss Re Institute and China Pacific Insurance. But as the country confronts ageing demographics, medical system reform, and changing healthcare demands, the focus is now shifting from scale to quality.
China's Insurance Association has announced a new reference rate for ordinary life insurance products at 1.99%, down 14 basis points from the previous quarter. This marks the second consecutive quarter where the benchmark rate has trailed the industry's maximum pricing level by over 25 basis points, triggering a regulatory requirement for insurers to revise their product offerings within two months.
These are the highlights for events and updates across the insurance industry this week.
These are the updates on insurance regulatory developments in China.
AIA Singapore has appointed Mr Owen Addison as chief human resources officer, effective 1 October 2025.
Asia's consumers are navigating an era of growing economic uncertainty. Job insecurity, increased costs of living, chronic health burdens and longer life spans are reshaping how people think about financial protection according to a new survey by Swiss Re.
A new study has revealed that Singapore requires to take urgent action to educate its citizens on the realities of long-term care as there is a significant gap in awareness and financial readiness in this regard.
The Cambodian insurance industry will soon initiate steps to achieve stronger regulations and sustainable growth for the industry.
South Korean life insurance company Hanwha Life has completed the acquisition of US based Velocity Clearing thus becoming the first Korean insurer to expand into the North American capital markets.
The combined net profits of eight listed insurance companies in Oman reached OMR17.8m ($46.3m) in 1H2025, from a net loss of OMR10.6m in 1H2024, according to Badri Management Consultancy, an international actuarial and risk consulting firm.