Democrance has entered a partnership with Dai-ichi Life Cambodia to launch their first digital life insurance product. Democrance’s SaaS (software-as-a-service) technology platform enabled Dai-ichi Life Cambodia to launch a simple and affordable term life product with a fully-digital customer journey and automated process. This will allow customers to purchase the...
Asia-Pacific’s life insurance industry recorded seven percent growth in 2021, the highest since 2016, due to increased insurance awareness as macroeconomic imbalances highlighted the importance of financial security in the wake of COVID-19 pandemic, according to findings by GlobalData. As per GlobalData, the life insurance industry written premiums in the...
The Swedish Club is opening a new office in Singapore. Following 150 years in business and more than 50 years of international development, this move acknowledges the importance of the growing markets in Asia and the Club’s commitment to serving its members locally. A full-service office, Team Singapore is responsible...
Miller, the independent specialist (re)insurance broker, is pleased to announce the acquisition of Lead Insurance Services Limited (Lead). Lead is based in Tokyo, Japan, and the acquisition cements a longstanding relationship between the two businesses. Founded in 1994, Lead specialises in Hull, War Risks and Protection & Indemnity insurance, offering...
Chubb Limited has announced that it has completed its acquisition of the life and non-life insurance companies that house the personal accident, supplemental health and life insurance business of in six Asia-Pacific markets. Chubb paid USD5.36 billion for the operations, which include Cigna’s accident and health (A&H) and life business...
To further the well-being of people with disabilities, China has steadily expanded its trials for long-term care insurance, which are now being carried out in 49 cities and cover 145 million residents. As an institutional arrangement designed particularly for people with disabilities, long-term care insurance provides recipients with caregiving guarantees...
The Insurance Regulatory and Development Authority of India (IRDAI) has reviewed and rationalised the regulatory returns to be filed by the insurance companies. In its latest circular the IRDAI has reduced the number of off-line returns being submitted by Life Insurers from 40 to only four whereas the number of...
The Insurance Council of Australia (ICA) has released new data that shows more than AUD2 billon has already been paid to insurance customers impacted by the February-March floods that hit South-East Queensland, the Northern Rivers and other parts of New South Wales. The latest figures reveal insured losses have increased...
Insured losses from the recent 7.4 magnitude earthquake that struck north eastern Japan are likely to be manageable, with a minor impact on non-life insurers’ earning, Fitch Ratings states in a briefing. Japan’s three non-life groups – Tokio Marine Holdings, Inc., MS&AD Insurance Group Holdings, Inc. and Sompo Holdings, Inc....
The Indian government is mulling a move to inject INR3000-INR5000 crore worth of capital in three public sector general insurance companies based on performance and requirements. Sources told the Business Standard that the capital infusion help improve the financial health of the general insurance firms — National Insurance Company Limited,...
