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.
AM Best maintains 'Stable' outlook, taking into account surge in foreign currency-denominated savings products, potentially higher domestic interest rates, and improved core profits.
Expansion of tax incentives to address challenges of an ageing population will increase demand for private health insurance, though the change isn't without its risks.
APAC is likely to see a massive surge in embedded device insurance, driven by a thriving market ecosystem, innovative protection plans, and emerging 6G technology.
