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1 week ago | 
asiainsurancereview.com | Reva Ganesan
AI-powered predictive analytics and real-time health monitoring are paving the way for more personalised, data-driven solutions that catch disease earlier, lower treatment costs and improve outcomes across the region.
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2 weeks ago | 
asiainsurancereview.com | Reva Ganesan
The survey, which focused on respondents aged 21–28, reveals a clear shift among young adults toward financial protection, with term insurance standing out among life insurance options.
The report highlights that Gen Z is gravitating toward term plans for their straightforward structure, affordability, and promise of long-term security.
The study also found that 57% of those considering term insurance are prepared to invest over INR2,000 ($24) per month.
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2 weeks ago | 
asiainsurancereview.com | Reva Ganesan
Governor Nandalal Weerasinghe stated that Sri Lanka requires an estimated $10.85bn by 2030 to fulfil its nationally determined contributions (NDCs) under the Paris Agreement.
“Extreme weather events are no longer rare occurrences; they have become the norm. Sustainable finance is not a choice; it is a global necessity, and it is essential for Sri Lanka,” he said during his keynote speech at the launch event.
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2 weeks ago | 
asiainsurancereview.com | Reva Ganesan
As the solvency ratio (K-ICS) of insurers nears the 150% threshold set by authorities, interest rates on subordinated bonds are rising, raising doubts about the feasibility of future refinancing efforts. The market is expressing concerns that the authorities’ swift capital regulations and their focus on a particular company are contributing to growing market uncertainty.
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2 weeks ago | 
asiainsurancereview.com | Reva Ganesan
Indonesia's Financial Services Authority (OJK) is re-evaluating current limits on foreign ownership in the reinsurance industry, prompted by a growing shortfall in the nation's reinsurance balance of payments. Last year, Indonesia posted a IDR 12.1tn ($732.9m) deficit in reinsurance transactions, reflecting a persistent upward trend in recent years.
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2 weeks ago | 
asiainsurancereview.com | Reva Ganesan
The top companies leading in new premium revenue are Bao Viet Life with VND 1,372bn, AIA with VND 642bn, Dai-ichi Life with VND 634bn, Generali with VND 441bn, and Prudential with VND 401bn.
General insurance products - which are the main product line of many businesses - continue to account for the largest proportion with 47% but also recorded a decrease of 8.9%.
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2 weeks ago | 
asiainsurancereview.com | Reva Ganesan
The ICA has stated that insurers are giving priority to these two events due to the substantial volume of claims, which has reached 26,000.
Cyclone Alfred alone contributed an additional 20,000 claims last month, pushing up claims costs by AUD267m.
In total, insurers have received over 116,000 claims related to damage from Cyclone Alfred, amounting to more than AUD 1.2bn. To date, 37% of these claims have been settled, with payouts reaching AUD 146m.
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3 weeks ago | 
asiainsurancereview.com | Reva Ganesan
According to the India Protection Quotient 7.0 survey by Axis Max Life and Kantar, life insurance ownership in urban India has reached an unprecedented 78%, highlighting a significant shift toward greater financial awareness and preparedness among urban Indians, reported Businessworld India. The survey reported that the protection quotient for urban India has risen to 48 from 35 in 2019.
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3 weeks ago | 
asiainsurancereview.com | Reva Ganesan
Moody’s Ratings analyst Gil Jo said that this was primarily driven by higher investment profits. Net insurance profit, however, declined by 15.7% y-o-y, mainly due to intense sales competition and stricter regulations that weighed on their net underwriting results. “The strengthened regulations and declining interest rates led to a 21.7% reduction in insurers’ shareholders’ equity.
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3 weeks ago | 
asiainsurancereview.com | Reva Ganesan
Among them, 2.5m receive monthly pensions or social insurance benefits, 2.06m benefit from monthly social welfare support and approximately 10,000 are under the care of social assistance institutions.
Most elderly people who do not retire, receive monthly social insurance benefits, depend on their children, and are in poor health still must work to earn a living, according to the Ministry of Health.
