Subsidiary of Reliance Industries to enter India’s P&C and Life & Health markets
The Chairman of the energy conglomerate announced Jio Financial Services would look to enter the market in partnership with global insurers.
Australia’s APRA sets priorities roadmap in new corporate plan
APRA’s 2023-24 Corporate Plan sets forth strategies to bolster the continuity of financial services amid rising threats, with cyber-attacks and climate-related financial risks both key concern.
Record fall in traditional reinsurance capital in 2022
An AM Best report shows financial market turbulence and an upswing in interest rates caused a historical decline in traditional reinsurance capital, while large Nat Cat losses led to reinsurers moving capital to primary and specialist lines of insurance.
Swiss Re teams up with Wysa to launch AI-powered mental health support app
‘Wysa Assure’ offers mental health support for insureds while providing insights to insurers, with MLC Life in Australia the first to roll out the app.
India: Demand for reinsurance could rise as LIC revamps cash flow management
Post its public listing, The Life Insurance Corporation of India is exploring new asset and liability management strategies — including derivatives and the increased use of reinsurance.
China’s regulator launches new bancassurance rules
The NFRA issued five new rules regulating collaboration between insurers and banks.
HKMA to expand fintech initiative to include insurers
The Hong Kong Monetary Authority has announced it will expand its Fintech 2025 plan beyond banking to include insurance, wealth management, and capital markets.
General Insurance Association of Korea to contribute US$3m to fund egg freezing initiative: Report
As concerns continue to grow about South Korea’s falling birth date, the Government and GIA have partnered to provide financial assistance for cryopreservation.
Taiwan’s general insurance industry forecast to surpass US$11bn by 2027
GlobalData has forecast Taiwan’s non-life sector is grow at 6.4% CAGR, underpinned by rising motor sales.
Indian regulator cuts foreign reinsurance capital requirements in half
The amendment is part of several changes made by the IRDAI as part of its goal to make India an attractive global reinsurance hub.
