Provisional market performance statistics released this past week by Hong Kong's insurance regulatory body, The Office of the Commissioner of Insurance (OCI), show that despite recent market turmoil and ongoing global economic uncertainty, insurance sales maintained a steady growth rate in Hong Kong during 2011, in line with other Asia Pacific markets, as more residents purchased policies for investment…

Malaysia's life insurance regulator expects another of year of sustained progress for the country's insurers, with new business premiums now forecast to grow by a moderate 7 to 10 percent in 2012 despite ongoing global economic uncertainty. The Life Insurance Association of Malaysia (LIAM) believes that the further development of the South Asian country's life insurance sector will hinge on several…

Malaysia largest Islamic insurance companies are now planning on expanding their operations into neighboring Indonesia due to the country's favorable population demographics, low insurance penetration levels and sustainable premium growth opportunities, which all look to far outpace the performance of their home market in the coming years. Islamic insurance products, commonly known as takaful, are…

Singapore's domestic general insurance industry had a good year in 2011, with company profits rising despite a slowing global economy, moribund interest rates and record catastrophe losses experienced in other markets throughout the year. In their year-end annual briefing released on Wednesday, the General Insurance Association of Singapore (GIA) revealed that the country's non-life market grew by…

Chinese government officials have reaffirmed their commitment to tackling skyrocketing domestic healthcare expenses following the discussion of several new state initiatives at the annual National People's Congress in Beijing this past week. China's rapid economic ascension has seen them become the world's second largest economy over the past two decades. While this certainly has brought many benefits…

Brazil's insurance industry is expected to see strong growth momentum across all health, general and life insurance business lines over the next four years, according to new research from emerging markets consulting firm BRICdata. In 'Business and Investment Opportunity in the Brazilian Health Insurance Industry: Analyses and Forecasts to 2016,'…

Insurance policyholders in the Emirate of Dubai could soon enjoy greater efficiency and transparency when filing a claim following the launch of a new electronic database system by the government this week. The Dubai Health Authority (DHA) announced on Sunday that they had officially launched their electronic website portal for health insurance claims in Dubai. The scheme, administered by local…

While the eyes of the international insurance industry have largely been drawn on the sale of HSBC's general insurance business in Latin America and Asia to AXA and QBE over the past week, moves have also been made in the Middle East and North African insurance markets that are worthy of attention. It was announced on Wednesday that Abraaj Capital, a Dubai-based private equity firm, would make a significant…

A new report published by prominent international ratings agency Moody's Investors Service this week urges European insurance companies to expand their business eastwards into Asia, as their collective presence in the region at present is too limited to affect their overall financials. This current situation, Moody's explains, has a credit-neutral effect on insurer credit profiles, but if these same…

2011 was a banner year for Malaysia's medical tourism industry and with inbound numbers growing at a similar pace this year, the country look set to challenge Asia's other attractive health travel destinations for supremacy in a lucrative global marketplace. The rising costs and increased sophistication of medical treatment coupled with the continued progress, or 'flattening', of the global economy…