Asia Insurance Review

Asia Insurance Review started in January 1991 to provide valuable information for insurance professionals, especially in Asia and beyond. It swiftly established itself as the leading regional magazine, attracting the attention of key figures and readers within the insurance sector across various countries including Australia, Bangladesh, Brunei, Cambodia, China, Fiji, Hong Kong, India, Indonesia, Japan, Korea, Macau, Malaysia, Myanmar, Nepal, New Zealand, Pakistan, Papua New Guinea, the Philippines, Singapore, Sri Lanka, Taiwan, Thailand, and Vietnam, among others.

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Vietnam broadens scope of unemployment insurance

1 week ago | asiainsurancereview.com | Reva Ganesan

The amended Employment Law, passed with near-unanimous approval, contains 8 chapters and 55 articles—three fewer than the original draft tabled at the 9th legislative session. The changes mark a significant policy shift, with 12 new provision groups aimed at modernizing Vietnam’s labor landscape.
Union Assurance achieves ISO/IEC 27001:2022 certification

1 week ago | asiainsurancereview.com | Reva Ganesan

Union Assurance has become the first life insurer in Sri Lanka to receive certification under the ISO/IEC 27001:2022 standard. The certification recognises the company's compliance with global standards for managing information security, covering areas such as customer data, business operations and third-party records. Union Assurance has adopted the ISO/IEC 27001:2022 standard as part of its efforts to strengthen cybersecurity.
Insurers widen voluntary retirement schemes amid digital shift and M&A activity

1 week ago | asiainsurancereview.com | Reva Ganesan

As companies restructure their workforces during integration processes, the focus is shifting toward incentivised voluntary departures rather than forced layoffs. Hanwha General Insurance, currently preparing to complete its merger with Carrot General Insurance by September, is expected to follow this trend. Older employees at Hanwha may be encouraged to retire voluntarily, as Carrot's workforce is significantly younger.
OJK notes 5.3% drop in credit insurance premiums

1 week ago | asiainsurancereview.com | Reva Ganesan

As of April 2025, total credit insurance premiums reached IDR 6.31tn ($394.38m), marking a 5.63% year-on-year decline, according to the Financial Services Authority (OJK), reported an Indonesia news site. However, credit insurance remains as one of the main contributors in the general insurance industry.
Lawmaker warns Gulf conflict may drive up shipping premiums

1 week ago | asiainsurancereview.com | Reva Ganesan

In a statement on 15 June, the lawmaker urged the agencies to track developments in marine insurance pricing and evaluate whether government intervention is needed to safeguard critical imports from becoming unaffordable due to rising costs. Mr Salceda warned that if global insurers begin classifying routes in the Gulf as war risk zones, freight charges for oil and food cargo could rise significantly.
Government-launched medical insurance product under diagnosis-based pricing system

1 week ago | asiainsurancereview.com | Reva Ganesan

Health Minister Dzulkefly Ahmad announced that the government's launch of a basic medical and health insurance and takaful (MHIT) product is the initial phase in rolling out a diagnosis-related group (DRG) pricing system. He said the product would expand financing options in the private sector and help guide private healthcare towards a value-based care model.
Balancing trust and efficiency in life insurance with AI

2 weeks ago | asiainsurancereview.com | Reva Ganesan

As economic volatility rises and margins come under pressure across APAC, life insurers are reassessing their operating models. Boardroom discussions are shifting from digital transformation ambitions to a focus on disciplined execution.
Insurers wary of EVs

2 weeks ago | asiainsurancereview.com | Reva Ganesan

Insurance executives say the potential insolvency has sparked fears over rising liabilities, particularly for repair claims involving hard-to-source or unavailable vehicle parts. According to media reports, Neta Auto Thailand’s Chinese parent company is under investigation over its ability to meet debt obligations. Several Thai insurers have begun raising premiums on EV policies to reflect heightened risk exposure.
Widespread mis-selling leaves nearly half of life insurance policies discontinued over 5 years

2 weeks ago | asiainsurancereview.com | Reva Ganesan

A survey by personal finance advisory firm 1 Finance uncovered troubling insights into the widespread mis-selling of insurance, mutual funds, and other financial products in India—often with little regard for the consumer’s best interests. The report sheds light on widespread mis-selling, where customers are sold insurance policies without being given complete or accurate information.
New pension rules for voluntary social insurance from 1 July

2 weeks ago | asiainsurancereview.com | Reva Ganesan

Under the new rules, individuals participating in voluntary social insurance will be entitled to a lifetime pension once they reach the statutory retirement age and have contributed for at least 15 years. As outlined in the 2019 Labour Code, the retirement age is gradually increasing to —62 for men and 60 for women-—for those working under normal conditions.