A massive expansion in Asia’s middle class means that demographic change will be accompanied by an evolution in the type of health and wealth management products that Asian insurers offer.
Speaking at the 2024 All Actuaries Summit on the Gold Coast, Suzanne Smith called for innovative products that serve Australia's changing demographics.
Nippon Life is set to acquire 99.6% shares of the holding company of leading nursing care business Nichiigakkan for US$1.41 billion, as it seeks to diversify due to Japan's ageing demographic.