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The December issue of Asia Insurance Review is now available, offering the latest insights and emerging trends shaping the Asian insurance landscape in 2025. Stay informed and up to date—subscribe today! 👉https://lnkd.in/fM3ywU8 1️⃣ 𝐈𝐧𝐬𝐢𝐠𝐡𝐭𝐬 𝐟𝐫𝐨𝐦 𝐂-𝐒𝐮𝐢𝐭𝐞: 𝐈𝐧𝐬𝐮𝐫𝐚𝐧𝐜𝐞 𝟐𝟎𝟐𝟓 𝐩𝐫𝐞𝐝𝐢𝐜𝐭𝐢𝐨𝐧𝐬 The evolving landscape of capital regulations and accounting standards in Asia is transforming insurers’ strategies, emphasising risk-based capital frameworks and #IFRS17 As the changing business environment in Asia places more demands on primary insurers, organisations will need to exercise more scrutiny in the selection of partners to adapt, adjust and respond to challenges and opportunities India’s insurance sector in 2025: Embracing digital innovation and reforms, India is poised for growth, tackling climate challenges and expanding access to financial security for millions 2️⃣ 𝐈𝐧𝐬𝐮𝐫𝐚𝐧𝐜𝐞 𝐆𝐞𝐧𝐞𝐫𝐚𝐥 As climate change makes sure that natural disasters keep piling up, helping vulnerable societies in Asia augment their resilience becomes even more critical. 3️⃣ 𝐌𝐚𝐫𝐤𝐞𝐭 𝐏𝐫𝐨𝐟𝐢𝐥𝐞: 𝐂𝐡𝐢𝐧𝐚 Rural communities often miss out in the race for development. To ensure that this does not happen in China, insurers are doing much for rural communities.  Electric vehicles are a very common sight in China’s cities, and new Chinese car makers entering the industry are helping meet demand. #Insurance #InsuranceIndustry #China #AsiaInsuranceReview #AsiaInsurance #InsuranceUpdates #InsuranceNews #Regulations #InsuranceRegulations #InsuranceMarket #InsuranceTrends #LifeInsurance #InsuranceInnovation #MarketProfile #ClimateChange #BusinessModels #Reinsurance #Risks #RiskManagement

The 𝐌𝐀𝐘 issue of Asia Insurance Review is out now! Gain unparalleled market intel to foster collaboration and drive business expansion like never before. Subscribe today: https://lnkd.in/fM3ywU8 1️⃣ 𝐌𝐚𝐫𝐤𝐞𝐭 𝐩𝐫𝐨𝐟𝐢𝐥𝐞: 𝐀𝐮𝐬𝐭𝐫𝐚𝐥𝐢𝐚 After many years, the Australian reinsurance market has seen a return to profitability but challenges remain from rising claims, mostly from increased weather-related events. Australia has immense potential to be a leader in the renewable energy industry as it is a powerhouse for solar, wind and hydro. However, as the industry grows and technology rapidly advances, so do the associated risks. 2️⃣ 𝐈𝐧𝐬𝐮𝐫𝐚𝐧𝐜𝐞: 𝐇𝐞𝐚𝐥𝐭𝐡 Healthcare made headlines last year when Prime Minister Anwar Ibrahim announced a significant allocation of MYR41.22bn for the Ministry of Health in Budget 2024, marking a notable increase of approximately 13.5% from the previous year’s allocation of MYR36.3bn in Budget 2023. Malaysia and Singapore are not alone in this phenomenon. 3️⃣ 𝐑𝐞𝐠𝐮𝐥𝐚𝐭𝐢𝐨𝐧: 𝐕𝐢𝐞𝐰 𝐟𝐫𝐨𝐦 𝐈𝐧𝐝𝐢𝐚 In recent months, there have been sweeping changes in the Indian insurance regulator IRDAI’s regulatory framework. These should usher in a fresh environment for the industry. Learn more about the implications of these changes. 4️⃣ 𝐑𝐞𝐢𝐧𝐬𝐮𝐫𝐚𝐧𝐜𝐞 Increasing Nat CAT in Australia is posing real problems for households and insurers alike – leading to the conundrum of unaffordability of cover - making areas uninsurable and perhaps uninhabitable. Dive deep into insights on what can be done to increase the knowledge base required to tackle resiliency problems. ✅ Access all articles with your subscription. Dive deeper into the most current and relevant subjects. Subscribe today. #Insurance #InsuranceIndustry #Australia #AsiaInsuranceReview #AsiaInsurance #InsuranceUpdates #InsuranceNews #InsuranceRegulations #InsuranceMarket #InsuranceTrends #LifeInsurance #InsuranceInnovation #MarketProfile #ClimateChange #BusinessModels #Reinsurance #Risks #RiskManagement #Regulations #BusinessInterruption #AI #Artificialintelligence 

There's gold in them thar hills! Insurance gold, that is. Yes, China’s personal insurance market is looking like a potential gold rush, with annual growth expected to reach as much as 10% by 2035, according to Boston Consulting Group (BCG) estimates. The untapped veins? Health and pension coverage, fueled by an aging population, post-COVID health awareness and government support. By 2035, these products could make up half of the market, transforming the sector from rapid expansion to high-quality solutions. Read more on the report from Reinsurance News: https://lnkd.in/gBfBBRs8 #insurance #china #economy #growth #reinsurance #tech #innovation

The November edition of Asia Insurance Review is now available. Access cutting-edge perspectives and stay ahead with comprehensive regional updates, essential insights, and expert analysis. Subscribe today 👉 https://lnkd.in/fM3ywU8 1️⃣ 𝐑𝐞𝐢𝐧𝐬𝐮𝐫𝐚𝐧𝐜𝐞 APAC reinsurers recorded strong top-line growth and favourable earnings in 2023, supported by benign catastrophe activity, stable investment returns and robust underwriting results. 2️⃣ 𝐆𝐞𝐧𝐞𝐫𝐚𝐥 𝐈𝐧𝐬𝐮𝐫𝐚𝐧𝐜𝐞 Climate change has forced insurers to look at the ‘CAT season’ as a year-round affair, and the industry is attempting to deal with this new reality through heightened data analytics and improved modelling tools. We spoke to McLarens’ Mr. Martyn Wicht about how claims trends are being reshaped. As the world slowly but steadily moves towards #EVs as the primary mode of transportation, insurers must keep up with the nuances of EV risk, monitoring the entire supply chain and tailoring products and services specifically to EVs. 3️⃣ 𝐌𝐚𝐫𝐤𝐞𝐭 𝐏𝐫𝐨𝐟𝐢𝐥𝐞: 𝐒𝐢𝐧𝐠𝐚𝐩𝐨𝐫𝐞 Despite global headwinds, the country’s strong economic growth has ensured Singapore’s insurance industry stays strong and resilient. Singapore’s GDP growth is projected to be between 2% to 3% in 2024, providing opportunities for the insurance industry to meet the protection needs of the country. #Insurance #InsuranceIndustry #Singapore #AsiaInsuranceReview #AsiaInsurance #InsuranceUpdates #InsuranceNews #Regulations #InsuranceRegulations #InsuranceMarket #InsuranceTrends #LifeInsurance #InsuranceInnovation #MarketProfile #ClimateChange #BusinessModels #Reinsurance #Risks #RiskManagement

🎉 Ping An remains in the No. 1 spot among Chinese insurers on the Forbes Global 2000 List. Last week, Forbes released the 2024 Forbes Global 2000 rankings, evaluating companies based on sales, profits, assets, and market value. Aside from being No. 1 among insurance peers in China, we also ranked 🥈 #2 Among Global Insurance Companies 🔝 #6 Among Chinese Companies 🌍 #29 Among Global Enterprises Achieving these rankings is a testament to our dedication to offer integrated finance, health and senior care services to meet the everchanging needs of our 234 million retail customers in China. Read more: https://bit.ly/4b5LheA #ForbesGlobal2000

Asia Pacific #Motor_Insurance Market is flourishing due to increasing vehicle ownership, rapid #urbanization, rising disposable income, growing awareness about #insurance benefits, regulatory mandates, and #technological advancements in insurance processes. 💡As per the recent #market_research_report, 𝐀𝐬𝐢𝐚 𝐏𝐚𝐜𝐢𝐟𝐢𝐜 𝐌𝐨𝐭𝐨𝐫 𝐈𝐧𝐬𝐮𝐫𝐚𝐧𝐜𝐞 𝐌𝐚𝐫𝐤𝐞𝐭 size at USD 142.85 billion in 2023. During the #forecast period between 2024 and 2030, BlueWeave expects Asia Pacific #Motor_Insurance_Market size to grow at a significant #CAGR of 8.55% reaching a value of #USD 233.69 #billion by 2030. 🌐𝐑𝐞𝐪𝐮𝐞𝐬𝐭 𝐭𝐨 𝐁𝐥𝐮𝐞𝐖𝐞𝐚𝐯𝐞 𝐅𝐨𝐫 𝐒𝐚𝐦𝐩𝐥𝐞 𝐂𝐨𝐩𝐲 𝐨𝐟 "𝐀𝐬𝐢𝐚 𝐏𝐚𝐜𝐢𝐟𝐢𝐜 𝐌𝐨𝐭𝐨𝐫 𝐈𝐧𝐬𝐮𝐫𝐚𝐧𝐜𝐞 𝐌𝐚𝐫𝐤𝐞𝐭 " ➖https://lnkd.in/gqX2cHSc ▶ 𝐌𝐚𝐣𝐨𝐫 𝐩𝐥𝐚𝐲𝐞𝐫𝐬: ✔China Ping An Insurance Overseas (Holdings) Limited, ✔China Pacific Life Insurance (H.K.) Co. Ltd., ✔People's Insurance Company of China, ✔JAPAN POST BANK Co., Ltd., ✔Tokio Marine Group, ✔Sompo Holdings, ✔MS&AD Insurance Group, ✔FUBON LIFE INSURANCE CO., LTD., ✔AXA, ✔Allianz, ✔Chubb, ✔Zurich Insurance, ✔Liberty Mutual Insurance, ✔Generali, ✔Hannover Re 📢𝐎𝐩𝐩𝐨𝐫𝐭𝐮𝐧𝐢𝐭𝐲 – 𝐄𝐱𝐩𝐚𝐧𝐝𝐢𝐧𝐠 𝐈𝐧𝐬𝐮𝐫𝐚𝐧𝐜𝐞 𝐏𝐫𝐨𝐝𝐮𝐜𝐭 𝐎𝐟𝐟𝐞𝐫𝐢𝐧𝐠𝐬 An increasing number of insurance product offerings are expected to accelerate the #growth of Asia Pacific #Motor_Insurance_Market during the forecast period, as insurers diversify coverage to meet evolving #customer needs. By introducing innovative #policies, such as usage-based insurance, comprehensive add-ons, and tailored packages, companies capture a broader market share. #BlueWeave #Consulting #Marketforecast #Marketresearch #MotorInsuranceMarketGrowth #InsuranceMarketTrends #AsiaPacificInsurance #MotorInsurance #MarketResearch #InsuranceIndustry #FinancialServices

Small and medium insurers in China face profitability challenges due to market dominance by major players. This holds particularly true in the non-life industry, where the People’s Insurance Company, Ping An, and China Pacific Insurance hold a 65% market share. A recent Fitch report notes that these large firms set benchmarks for market practices, pricing, and product offerings, creating barriers for smaller companies. In the non-life sector specifically, policy-driven business lines like motor insurance, which have lower margins and more regulatory oversight, exacerbate these issues. Small P&C insurers also often seek higher returns from riskier investments, increasing their exposure to market volatility. In contrast, the life insurance sector offers a more balanced competition. More here in this analysis piece by Aaron Woolner: https://lnkd.in/grKEmABQ #Insurance #China

🌟 𝐑𝐞𝐯𝐞𝐚𝐥𝐢𝐧𝐠 𝐭𝐡𝐞 𝐒𝐄𝐂𝐑𝐄𝐓 𝐨𝐟 𝐈𝐧𝐬𝐮𝐫𝐚𝐧𝐜𝐞: 𝐈𝐠𝐧𝐢𝐭𝐢𝐧𝐠 𝐒𝐢𝐧𝐠𝐚𝐩𝐨𝐫𝐞'𝐬 𝐄𝐜𝐨𝐧𝐨𝐦𝐢𝐜 𝐆𝐫𝐨𝐰𝐭𝐡 (𝐏𝐚𝐫𝐭 𝟏) 💼✨ 𝑨𝒓𝒆 𝒀𝑶𝑼 𝒇𝒆𝒆𝒍𝒊𝒏𝒈 𝒕𝒉𝒆 𝒆𝒄𝒐𝒏𝒐𝒎𝒊𝒄 𝒑𝒊𝒏𝒄𝒉 𝒍𝒂𝒕𝒆𝒍𝒚? With current economic challenges; persistent inflation, geopolitical tensions, and supply-chain disruptions looming over us, safeguarding our financial future has never been more crucial. Life insurance is often viewed through a lens of mixed emotions and perceptions. 𝑩𝒖𝒕 𝒉𝒆𝒓𝒆'𝒔 𝒕𝒉𝒆 𝒆𝒚𝒆-𝒐𝒑𝒆𝒏𝒊𝒏𝒈 𝒕𝒓𝒖𝒕𝒉: In today's era of global uncertainty, insurance isn't just about peace of mind—it's a vital catalyst for driving our nation's economic stability and growth. Embark on this insightful journey with me as I reveal the 4 crucial functions of life insurance that fuel our nation's prosperity: 1️⃣ 𝙎𝙖𝙛𝙚𝙜𝙪𝙖𝙧𝙙𝙞𝙣𝙜 𝙎𝙞𝙣𝙜𝙖𝙥𝙤𝙧𝙚'𝙨 𝙑𝙖𝙡𝙪𝙖𝙗𝙡𝙚 𝘼𝙨𝙨𝙚𝙩𝙨 2️⃣ 𝙁𝙪𝙚𝙡𝙡𝙞𝙣𝙜 𝙎𝙞𝙣𝙜𝙖𝙥𝙤𝙧𝙚'𝙨 𝙀𝙘𝙤𝙣𝙤𝙢𝙞𝙘 𝙂𝙧𝙤𝙬𝙩𝙝 3️⃣ 𝙄𝙣𝙟𝙚𝙘𝙩𝙞𝙣𝙜 𝙑𝙞𝙩𝙖𝙡 𝘾𝙖𝙥𝙞𝙩𝙖𝙡 𝙞𝙣𝙩𝙤 𝙊𝙪𝙧 𝙀𝙘𝙤𝙣𝙤𝙢𝙮 4️⃣ 𝙎𝙩𝙖𝙗𝙞𝙡𝙞𝙯𝙞𝙣𝙜 𝙎𝙞𝙣𝙜𝙖𝙥𝙤𝙧𝙚 𝙞𝙣 𝙏𝙞𝙢𝙚𝙨 𝙤𝙛 𝘾𝙧𝙞𝙨𝙞𝙨 Stay tuned for Part 2, where we'll explore the vital function of life insurance: 𝙎𝙖𝙛𝙚𝙜𝙪𝙖𝙧𝙙𝙞𝙣𝙜 𝙎𝙞𝙣𝙜𝙖𝙥𝙤𝙧𝙚'𝙨 𝙑𝙖𝙡𝙪𝙖𝙗𝙡𝙚 𝘼𝙨𝙨𝙚𝙩𝙨 🔥 𝙍𝙚𝙖𝙙𝙮 𝙩𝙤 𝙨𝙚𝙘𝙪𝙧𝙚 𝙮𝙤𝙪𝙧 𝙛𝙞𝙣𝙖𝙣𝙘𝙞𝙖𝙡 𝙛𝙪𝙩𝙪𝙧𝙚? As your trusted wealth advisor, 𝙏𝙧𝙖𝙫𝙞𝙨 𝙏𝙖𝙣, I'm dedicated to 𝑷𝒓𝒐𝒕𝒆𝒄𝒕 𝒀𝒐𝒖𝒓 𝑫𝒓𝒆𝒂𝒎𝒔, 𝑬𝒎𝒑𝒐𝒘𝒆𝒓 𝒀𝒐𝒖𝒓 𝑭𝒖𝒕𝒖𝒓𝒆, and contribute to Singapore's economic success. 💼✨ Don't wait any longer - take the first step towards financial security and reach out 𝙉𝙊𝙒 for a 𝙁𝙍𝙀𝙀 consultation! 🔑 𝘿𝙞𝙨𝙘𝙡𝙖𝙞𝙢𝙚𝙧: The views expressed are solely my own and not representative of any official position. Information provided is for informational purposes and not professional advice. #TravisTan #SeniorFinancialConsultant #ProtectYourDream #Singapore #Economy #Inflation #Macroeconomic #Stability #Growth #Insurance #RevealingTheSecret #IgnitingSingaporeEconomicGrowth #Part1

In the recent Asia Insurance Review's August 2024 edition, our Insurance Partner, Chelsea Chan, shares her views and insights on Bank Negara Malaysia (BNM)’s licensing and regulatory framework for digital insurers and takaful operators. Dive into this insightful interview to gain valuable perspectives and stay ahead in the ever-evolving legal landscape in Malaysia: https://lnkd.in/gE6HTJCT #christopherleeong #CLO #RajahTannAsia #LawyersWhoKnowAsia #RTA #Malaysia #law #legalinsights #insurance #insurtech

🌟 𝐑𝐞𝐯𝐞𝐚𝐥𝐢𝐧𝐠 𝐭𝐡𝐞 𝐒𝐄𝐂𝐑𝐄𝐓 𝐨𝐟 𝐈𝐧𝐬𝐮𝐫𝐚𝐧𝐜𝐞: 𝐈𝐠𝐧𝐢𝐭𝐢𝐧𝐠 𝐒𝐢𝐧𝐠𝐚𝐩𝐨𝐫𝐞'𝐬 𝐄𝐜𝐨𝐧𝐨𝐦𝐢𝐜 𝐆𝐫𝐨𝐰𝐭𝐡 (𝐏𝐚𝐫𝐭 𝟐) 💼✨ 𝑬𝒗𝒆𝒓 𝒘𝒐𝒏𝒅𝒆𝒓𝒆𝒅 𝒘𝒉𝒂𝒕 𝒂𝒓𝒆 𝒕𝒉𝒆 𝒕𝒘𝒐 𝒎𝒐𝒔𝒕 𝒗𝒂𝒍𝒖𝒂𝒃𝒍𝒆 𝒂𝒔𝒔𝒆𝒕𝒔 𝒇𝒐𝒓 𝑺𝒊𝒏𝒈𝒂𝒑𝒐𝒓𝒆'𝒔 𝒆𝒄𝒐𝒏𝒐𝒎𝒊𝒄 𝒆𝒏𝒈𝒊𝒏𝒆? It encompasses our skilled workforce and thriving businesses, essential for maintaining competitiveness and driving economic growth Embark on this journey with me as I reveal the pivotal role of life insurance in 𝙎𝙖𝙛𝙚𝙜𝙪𝙖𝙧𝙙𝙞𝙣𝙜 𝙎𝙞𝙣𝙜𝙖𝙥𝙤𝙧𝙚'𝙨 𝙑𝙖𝙡𝙪𝙖𝙗𝙡𝙚 𝘼𝙨𝙨𝙚𝙩𝙨. 𝙁𝙤𝙧 𝙄𝙣𝙙𝙞𝙫𝙞𝙙𝙪𝙖𝙡𝙨 Life Insurance serves as a lifeline, offering crucial financial security to safeguard loved ones amidst uncertainty, providing stability and peace of mind. 💪 𝙁𝙤𝙧 𝘽𝙪𝙨𝙞𝙣𝙚𝙨𝙨𝙚𝙨 Life Insurance shields businesses, enhancing employee loyalty, focus, productivity, attendance, recruitment, overall health, quality of life, talent retention, and minimizing turnover. 🛡️💼 By safeguarding individuals and businesses alike, life insurance plays a pivotal role in fuelling Singapore's economic prosperity, empowering us to navigate uncertainties with confidence and resilience. Stay tuned for Part 3, where we'll explore the next vital function of insurance: 𝙁𝙪𝙚𝙡𝙡𝙞𝙣𝙜 𝙎𝙞𝙣𝙜𝙖𝙥𝙤𝙧𝙚'𝙨 𝙀𝙘𝙤𝙣𝙤𝙢𝙞𝙘 𝙂𝙧𝙤𝙬𝙩𝙝 🔥 𝙍𝙚𝙖𝙙𝙮 𝙩𝙤 𝙨𝙚𝙘𝙪𝙧𝙚 𝙮𝙤𝙪𝙧 𝙛𝙞𝙣𝙖𝙣𝙘𝙞𝙖𝙡 𝙛𝙪𝙩𝙪𝙧𝙚? As your trusted wealth advisor, 𝙏𝙧𝙖𝙫𝙞𝙨 𝙏𝙖𝙣, I'm dedicated to 𝑷𝒓𝒐𝒕𝒆𝒄𝒕 𝒀𝒐𝒖𝒓 𝑫𝒓𝒆𝒂𝒎𝒔, 𝑬𝒎𝒑𝒐𝒘𝒆𝒓 𝒀𝒐𝒖𝒓 𝑭𝒖𝒕𝒖𝒓𝒆, and contribute to Singapore's economic success. 💼✨ Don't wait any longer - take the first step towards financial security and reach out 𝙉𝙊𝙒 for a 𝙁𝙍𝙀𝙀 consultation! 🔑 𝘿𝙞𝙨𝙘𝙡𝙖𝙞𝙢𝙚𝙧: The views expressed are solely my own and not representative of any official position. Information provided is for informational purposes and not professional advice. #TravisTan #SeniorFinancialConsultant #ProtectYourDream #Singapore #Economy #Inflation #Macroeconomic #Stability #Growth #Insurance #RevealingTheSecret #IgnitingSingaporeEconomicGrowth #Part2 #ProtectingSingaporeValuableAssets