Despite multiple currencies and government systems there is a major business opportunity not only in the region itself but also as a hub for Mainland China.
The combined impact of HK RBC and IFRS 17 has led to an improvement in: product mix, economic valuation, and corporate governance by insurers, says Chow Tai Fook CFO.
Majority of losses come from motor line, with Office of the Insurance Commission announcing new disaster management measures to expedite industry response to floods.
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.
Developed with insurtech Kanopi, the platform will offer streamlined insurance solutions for the retirement living sector at launch, with new lines of business being added within the next year.
