Amid economic uncertainty, Singapore's life insurance sector sees a downturn in new business premiums but a surge in annual premium policies and claim settlements in 1H 2023.
CPIC Life (HK) has launched the 'Ever-growing Whole Life Insurance Plan', offering both protection and savings, and guarantees a minimum percentage death benefit of the policy's notional amount.
There is a 70% chance El Niño develops in 2023; its cooler average sea temperatures are expected to fuel severe weather, including droughts and wildfires.
The Insurance Regulatory and Development Authority of India has chosen 15 foreign-linked firms to lead the way in India's adoption of IFRS 17, as part of efforts to attract foreign investment.
Investments led to wider operating deficit, but Fitch maintained rating due to reduction in underwriting deficit, strong capital, and continued support from its parent company.
