• Parametric insurance has played a key role in improving agricultural resilience in emerging Asia.

• Industry players say product requires bespoke distribution approach due to problems, such as drawbacks of bancassurance model and indemnity insurance fraud, to close insurance gap. 

• A seed insurance programme in the Philippines has been successfully rolled out by a partnership of Bayer, Pioneer, and WRMS. 

• Parametric solutions is set to replace agri indemnity insurance in Southeast Asia over ‘the long term’.

• 82 of 145 Chinese non-listed insurers reported profits in 2023, according to a state-owned newspaper.

• P&C segment generated 413bn (US$57bn) yuan in revenue, with 60% concentrated in top ten insurers.

• P&C segment also saw net profit of 4.74bn yuan (US$658m), however only 35% achieved COR beneath 100%.

• Non-listed life segment reported a net loss of 14.2bn yuan (US$1.9bn) due to macroeconomic downturn, weak investment market, and reduced underwriting income.

• Non-listed reinsurers posted profits of 1.43bn yuan, with half achieving underwriting profits.

• S&P confirmed 'AA-' credit ratings for Chubb Japan, with a stable outlook.

• Entity seen as crucial to Chubb group's international expansion strategy.

• For the 1H of FY 2023, insurer saw 4.6% increase in net premiums written and combined ratio improvement to 81.7%.

• The company benefited from a recovery in travel insurance, growth in commercial insurance, and reduced COVID-19 and cat-related losses.

• Fitch affirmed Taiwan’s KGI Life’s IFS Rating at ‘A’ with a stable outlook.

• Insurer holds 8% market share and is Taiwan’s fifth-largest insurer.

• VNB margin has increased to 34.3% in 1H23, up from 27.1% in 1H22.

• Strategic focus on higher-margin protection products is expected to keep underwriting profitability stable.

• Bancassurance, primarily through KGI Bank, contributed to 58% of first-year premiums in 1H 2023.

• In an interview with AsianInvestor, Junior Cho emphasised the importance of assessing investee companies' to ensure they have climate change policies and oversight.

• Cho said Zurich employs qualitative and quantitative ESG assessment methods and collaborates with external data providers as part of framework.

• Comments come amid increased climate disclosure requirements being implemented both in Malaysia, by the JC3, and globally through standards such as IFRS S1 and S2.