News

Fitch: Korean insurers foreign commercial real estate losses ‘tolerable’

August 7 2024

Korea’s insurers have felt the pinch from the global CRE downturn but strong capital levels mean that any pain should be manageable by the sector.

MAS defends Allianz-Income Insurance deal

August 7 2024

MAS plays down concerns about deal's impact on competition and insurance affordability in Singapore.

woori-to-acquire-tongyang-and-abl-life-from-chinas-dajia-insurance-group-report

Woori Financial signs MoU to acquire Tongyang and ABL Life Insurance - report

August 6 2024

Woori is now conducting due diligence on potential acquisition which would see it become the sixth largest life insurer in South Korea.

SBI General, HSBC India enters bancassurance partnership for non-life products

August 6 2024

Businesses team up to provide health, property, motor, and travel insurance to HSBC's customers.

axa-announces-new-heatwave-parametric-insurance-for-hong-kong

AXA launches heatwave parametric solution in Hong Kong

August 5 2024

The insurance product compensates outdoor workers with small payouts or anti-heatwave kits when summer temperatures surpass 36°C for three days straight.

carrot-acquires-exclusive-right-to-use-behaviour-based-insurance-in-south-korea

Carrot secures six-month exclusive rights for behaviour-based motor insurance in South Korea

August 5 2024

Carrot has gathered extensive driving data to support BBI model for motor insurance.

India's Square Insurance raises US$3m in pre-Series A round funding

August 5 2024

Indian insurtech will use funds to develop tech and expand presence, as it bids to advance cattle and rural insurance solutions.

South Korea's non-life insurers restructure workforce amid digital transformation: report

August 5 2024

Voluntary retirement programs could signal shift toward more digital channels in South Korea's non-life insurance sector.

axa-to-sell-axa-investment-managers-to-bnp-paribas-for-euro-5-4bn

AXA to sell asset management unit to BNP Paribas

August 5 2024

€5.4bn (US$5.87bn) sale of AXA Investment Managers aligns with strategy of focusing on core insurance activities, says AXA.

tesla-registers-insurance-brokerage-firm-in-china

Tesla registers insurance brokerage in China

August 5 2024

Move signals Tesla's renewed efforts to sell insurance products directly to consumers in China.

QBE scales generative AI solutions globally

August 3 2024

QBE expands AI-driven underwriting tools worldwide, focusing on efficiency and responsible implementation.

aia-hit-with-us2-9m-fine-for-anti-money-laundering-system-lapses

AIA hit with US$2.9m fine for anti-money laundering process lapses

August 2 2024

HK$23m fine is largest issued by Hong Kong Insurance Authority, but no inappropriate sales to clients identified.

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