The Hong Kong Monetary Authority has announced it will expand its Fintech 2025 plan beyond banking to include insurance, wealth management, and capital markets.
As concerns continue to grow about South Korea's falling birth date, the Government and GIA have partnered to provide financial assistance for cryopreservation.
The Australian regulator initiated civil proceedings against IAL and IMA for allegedly misleading customers about loyalty discounts on home insurance policies.
The ratings were withdrawn following the announcement of the Guam-headquartered insurer's sale to Calvo Enterprises Inc. and TMPI's subsequent request to be excluded from the rating process.
The Hong Kong headquartered insurer also saw a 50% increase in net profit, with results attributed to strong sales recovery in key markets and its bancassurance strategy.
The latest GlobalData report shows that 15 of the top 20 insurers reported growth in 2022 — led by Dai-ichi Life, T&D Holdings, and Hanwha Life Insurance.
AM Best's latest global reinsurance rankings saw China Re slip two places when measured by life and non-life GWP, while the Asia region's combined ratio continues to hover above 100%.
