Demographics and GDP growth to power SEA health insurance sector
Southeast Asia’s young population and varying levels of public healthcare pose challenges and opportunities to private insurers.
HSBC China subsidiary becomes first business to hold dual insurance brokerage and fund sales license
HSBC Insurance Brokerage receives concurrent approval for insurance brokerage and fund sales, as it targets China’s high-potential RMB 28.8 trillion market.
Singapore Reinsurers’ Association appoints Jeslyn Tan as Executive Director
Tan is an industry veteran with over 20 years of experience; she takes over from Jeffrey Yeo who is retiring at the end of the year.
Recurrence of 1923 Great Kanto earthquake would cause US$331bn in economic losses today
Despite advances in safety measures and culture, a repeat of the earthquake would cause economic loss of US$331bn and insurance losses around US$140bn, according to Moody’s RMS and Swiss Re.
Munich Re’s Derek Martin promoted to Head of APA Claims for Asia, Australia and Africa
Martin has served as Head of Claims in Australia and New Zealand since 2020.
HSBC Life Singapore to appoint Harpreet Bindra as new CEO
Bindra has 20 years of leadership experience and is currently HSBC Global Insurance’s Global Head of Strategy and Business Development.
FWD reports strong organic growth in H1 2023, value of new business up 22%
FWD saw the value of new business hit US$482m, with the businesses’ results boosted by the return of Chinese visitors to Hong Kong and Macau, strong bancassurance partnerships, and expanded agency presence in Thailand.
Chinese insurers safe from property market contagion — for now
Major Chinese insurers are unlikely to face a crisis due to the country’s falling property market, however the extent of exposure for smaller and privately backed players is unclear.
Prudential sees strong new business and APE growth in 1H 2023; unveils new strategy
Prudential saw new profit profit increase 39% and APE sales up 42% in the first half of 2023.
Prudential promotes Bill Maldonado to CEO of Eastspring Investments
Maldonado has been the Interim CEO for Eastspring Investments since April.
