The ICA said insurers are undertaking improvements to ensure profitable and sustainable products for Australians, despite challenges from Nat Cats and inflation.
Chinese insurers have spent over US$10bn building retirement communities, but new draft rules could see some excluded from the insurance-plus-service sector.
The Japanese life insurer's underwriting profitability is set to bounce back from FYE 2024, contributing to Fitch Ratings maintaining their 'A-' Insurer Financial Strength rating.
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.
Hong Kong's Insurance Authority said the appointment of PWC representatives as Advisors was made to support Tahoe Life and protect the interests of the insurer's policy holders.
