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China is seeking sources of “patient capital” to fuel its tech drive, and has mentioned insurers as potential backers. Photo: Reuters

In China’s quest for ‘patient capital’, insurance funds may fit the bill

As China seeks long-term investment with higher risk tolerance, insurance funds have been brought up as one potential option.

As China seeks long-term investment with higher risk tolerance, insurance funds have been brought up as one potential option

Hongkongers buying more pet coverage, propelling insurer OneDegree to a profit

Exclusive | Climate change imperils Asia’s middle class, Hong Kong reinsurer says

Malaysia set to launch Forest City Financial Zone, but will it lure businesses?

Industry insiders say the government must go beyond tax incentives to attract the firms needed to revive the troubled US$100 billion project.

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A welcome sign stands at a roundabout in front of residential apartments in Chinese developer Country Garden’s Forest City in Johor Bahru, Malaysia. Photo: EPA-EFE

China creates ‘concerto’ of rules for insurance sector, promotes investment

China’s State Council issued a 10-point document on Wednesday outlining comprehensive regulations for the insurance industry.

Exclusive | HSBC Life sees Asia’s wealthy, bay area retirees as key to growth

Key growth areas are the wealth hubs of Hong Kong and Singapore, alongside the emerging wealth markets of mainland China and India, CEO Moncreiffe says.

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Buyers from mainland China drive record Hong Kong life insurance sales

Sales surge 12 per cent to US$14.9 billion as mainland visitors continue buying spree to chase better returns and hedge the yuan.

Tourists crowd the Avenue of the Stars at Victoria Harbour in Tsim Sha Tsui during the ‘Golden Week’ holiday period on October 2, 2023. Photo: May Tse

Travellers seek best insurance against natural disasters, scams: Klook survey

More respondents in a Klook survey want policies that insure against natural disasters and travel scams. Hong Kong travellers are willing to pay for premium plans to get ‘maximum peace of mind’.

As Berkshire Hathaway tops US$1 trillion, Buffett’s legacy reaches new heights

Warren Buffett’s conglomerate joins tech giants like Apple, Nvidia, and Microsoft with a market value of US$1 trillion.

Prudential posts surprise interim profit drop due to investment losses

Profit from new business, a key measure of sales and the future growth of insurance companies, increased 8 per cent to US$1.47 billion, bolstered by improving sales in Southeast Asia and on the mainland.

Prudential’s signage atop a building in Hong Kong on August 2, 2024. Photo: Bloomberg

Exclusive | Ping An eyes services for Hongkongers retiring to Greater Bay Area

China’s largest insurer sees opportunities serving Hongkongers who are living in the mainland cities of the Greater Bay Area – a group that has grown 11 per cent in the last five years.

A view of Ping An Finance Centre, the tallest skyscraper in Shenzhen. Photo: Getty Images

Ping An Insurance beats forecasts with best profits in 4 years on robust sales

China’s biggest insurer reported a 6.8 per cent gain in interim earnings, its best half-yearly performance in four years amid analysts’ pessimistic forecasts.

Mainland Chinese buying spree boosts AIA’s first-half profit 53%

Asia’s largest insurer posted its best first-half profit in five years at US$3.31 billion and beat analysts’ estimates of US$3.27 billion.

US hospital lost part of his skull, then charged US$19,000 for replacement

Added costs from Fernando Cluster’s botched surgery ended up at over US$146,000, which his lawsuit blames on the hospital’s mistake.

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Fernando Cluster and his wife have filed a lawsuit seeking compensation and damages from Emory University Hospital Midtown. Photo: TNS

Editorial | Check fine print on insurance for quakes

Hong Kong’s Security Bureau updated an existing amber outbound travel alert urging awareness and caution for Japan in wake of recent spate of earthquakes and a warning of a possible ‘megaquake’

A collapsed house in Osaki, in Japan’s southwestern prefecture of Kagoshima, after a magnitude-7.1 earthquake hit the region last week. Photo: Kyodo

Explainer | What you need to know about Hong Kong travel insurance if quake hits Japan trip

Here’s how to navigate insurance claims if your trip to Japan is affected by an earthquake or other unforeseen circumstances.

AXA launches Hong Kong’s first heatwave insurance to protect outdoor workers

The payout from the insurance comes into force when the temperature stays above 36 degrees for three consecutive days from August to October.

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Former Citigroup Asia head Angel Ng joins Prudential

Angel Ng will serve as Greater China boss from October as the UK and Hong Kong-based insurer eyes more growth in the region.

Angel Ng Yin-yee, photographed at Citi Tower in Kwun Tong, Hong Kong, on May 19, 2019. Photo: Xiaomei Chen

Hong Kong poised for bigger role in shipping insurance to support China’s fleet

The recently concluded third plenum highlighted Beijing’s aim to enhance Hong Kong’s status as an international shipping and trading centre, a veteran insurer and Executive Council member says.

Japan’s searing summer fuels demand for heatstroke insurance

Last month, Japan recorded temperatures of more than 40 Celsius in various locations, sparking alerts against heatstroke.

Singapore Income’s deal with Allianz raises fears of profit over social mission

Critics such as diplomat Tommy Koh say Income Insurance’s key role is to serve Singaporeans by keeping premiums affordable.

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Allianz company sign hanging on a building in Lugano. Photo: Shutterstock

Climate change pushes bill for disasters to US$120 billion in first half

Insurance industry feels the heat as warming drives bigger losses and puts more regions at risk, says reinsurer Munich Re.

Floods strike Yueyang City in China’s central province of Hunan on July 1, 2024. Photo: Xinhua

Hong Kong’s Insurance Authority appoints managers to take control of Tahoe Life

Derek Lai and Forrest Kam from Deloitte Touche Tohmatsu and Oliver Cheng from Deloitte Advisory have been appointed joint managers to handle day-to-day operations at the distressed insurer.

Hong Kong’s brokers rush to insure staff for work, typhoon or shine

The insurance sector is busy helping Hong Kong’s 600 stockbrokers get their staff the coverage they require for working through typhoons and other savage weather when the rules change in September, according to industry players.

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CrowdStrike outage cost economy ‘tens of billions of dollars’, firms want it back

CrowdStrike’s outage affected business operations worldwide, including grounding airlines, and firms are turning to cyber insurance providers to regain their losses.

A departure board shows canceled flights at the Detroit Metropolitan Wayne County Airport on July 20, 2024. Photo: AFP

China’s extreme weather raises alarm about its disaster insurance gaps

China’s insurers need more financial tools to mitigate risks from the economic damage wreaked by the growing number of droughts, floods and landslides across the country.

Water gushes out from the Three Gorges Dam through nine of its flood discharge gates to spare more capacity for incoming floods from upper reaches of the Yangtze River, in central China’s Hubei Province, July 15, 2024. Extreme weather triggered is setting off alarm bells in China’s insurance sector, the world’s second largest, which urgently needs more financial tools to mitigate risks from the economic damage wreaked by the growing incidents of droughts, floods and landslides across the country. Photo: Xinhua

China’s top insurer Ping An seeks US$3.5 billion via convertible bond sale

Company joins a raft of Chinese firms including JD.com, Alibaba and Trip.com in tapping the cheaper funding source amid high interest rates.

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Hong Kong, Guangdong sign 6 cooperation deals to strengthen bay area integration

City leader John Lee and Guangdong Governor Wang Weizhong meet in Guangzhou, with deals signed covering food safety to healthcare cooperation.

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Insurance
 Stories about the insurance industry, including life, general, property and casualty insurance
last updated:
9 September, 2024
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