Prudential appoints Ashley Veasey as New Chief Information Technology Officer
Ashley Veasey, a seasoned professional in technology and digital innovation, is tasked with spearheading the company’s technology transformation strategy.
New Zealand: AM Best affirms Co-op Life’s credit ratings
Despite its small market share, AM Best reaffirms the company’s credit ratings thanks to its balance sheet strength and strong operating performance.
AM Best affirms ratings of Ping An Health Insurance Company of China
Despite operating losses and a challenging investment landscape in 2022, Ping An Health Insurance remains robust with AM Best affirming its A- ratings due to strong balance sheet and shareholder support.
Ant Group debuts financial large language model for insurance sector
Ant Group debuts its financial LLM, built for purpose for industries such as insurance and wealth management.
South Korea’s life insurance market expected to exceed US$150bn by 2027
GlobalData expects the South Korean life insurance market set to grow at 5.6% CAGR to to KRW255.4 trillion in 2027, driven by its ageing population.
NFRA lowers risk weighting for Chinese insurers’ domestic investments
China’s National Administration of Financial Regulation (NAFR) reduces risk weightings for insurance companies’ holdings in a bid to stimulate the nation’s underperforming stock market.
China’s tax incentives to pump up demand for private health cover
Expansion of tax incentives to address challenges of an ageing population will increase demand for private health insurance, though the change isn’t without its risks.
Thaire Life’s credit rating downgraded by AM Best amid shrinking ROE ratio
The rating downgrade comes in the midst of Thailand’s sole life reinsurer pivoting to expand its health reinsurance business.
Singapore sees persistent mortality and critical illness gaps despite increased insurance awareness
Singapore’s Protection Gap Study 2022 reveals progress in insurance awareness, but significant mortality and critical illness gaps remain
Hong Kong: Record-breaking downpour leads to extensive flooding
Hong Kong is hit by its most severe rainfall since records began in 1884, with businesses, schools and transportation shutting down.
