The ICA said insurers are undertaking improvements to ensure profitable and sustainable products for Australians, despite challenges from Nat Cats and inflation.
Mo, a veteran insurance professional with over 30 years in financial services, will be Chubb's new Country President for its general insurance operations in Korea.
A surge in a volume of sponsorship deals has pushed the insurance sector's spending on sports sponsorships past US$1bn, with a notable increase in football partnerships, reports GlobalData.
Local media reports show that over the past five years, Korean insurance companies have experienced a tripling of claims payouts and a more than fourfold rise in the number of claims.
