Live Insurance News

China’s insurance industry is booming

July 10, 2014July 8, 2014 Marc

Insurers in China will likely find more success in the coming years China’s insurance industry has been experiencing rapid growth over the past few years and this growth is expected to accelerate, according to the China Insurance Regulatory Commission. As consumers throughout the country become more affluent, the demand for insurance coverage is beginning to rise. More people are purchasing coverage and insurers are pulling in more revenue from premiums. These premiums are likely to account for a significant portion of China’s gross domestic product in the coming years. Report…

Premiums set to grow throughout the insurance industry

July 2, 2013July 1, 2013 Logan B.

Swiss Re reports on the state of the insurance industry Swiss Re, a leading global reinsurance firm, has released a new report concerning the state of the insurance industry and the cost of coverage. The global insurance industry has been seeing a great deal of activity recently, some of which has been considered somewhat negative. The negative issues that the industry has had to deal with are largely associated with powerful natural disasters that have occurred in some parts of the world in recent months. The report shows that natural…

Health insurance industry shows concern for H7N9 flu virus

April 18, 2013April 17, 2013 Logan B.

Health insurance companies are wary of new flu virus Last month, a new strain of the flu virus, dubbed H7N9, emerged in China. Since the emergence of the new flu strain, some 71 individuals have been diagnosed with H7N9 and 13 have reportedly died from the virus. The virus has caused many to recall the H1N1 influenza pandemic of 2009, which proved to be a particularly serious health concern for many people throughout Asia and served as a monumental challenge to the global health insurance industry. Kwiksure, a leading insurance…

European insurance industry sees major promise in the east

March 20, 2013April 30, 2013

European insurance industry sets sights on China Many sectors in the global insurance industry have been experiencing exceptional growth in recent years. For European insurance giants, Asia is becoming the most attractive market in the world. Prudential, the largest insurer in Europe, claims that the best investments that the insurance industry can make are in Asia. Prudential CEO Tidjane Thiam notes that China, in particular, is home to the fastest growing sector of the insurance industry, making the country very attractive to investors despite some of the restrictions imposed on…

Swiss Re reports on commercial insurance market

October 18, 2012 Nordstrom

Commercial insurance market facing new challenges as economies evolve Swiss Re, one of the world’s leading reinsurance groups, has released a new report concerning the state of the commercial insurance market and the challenges it is beginning to face. The report highlights the changes an evolving global economy are having on the commercial insurance market, suggesting that this evolution is producing new risks that could harm the market if proper precautions are not taken. Despite these risks, however, the commercial insurance market is showing aggressive growth, especially in under-developed countries.…

China works to boost availability of health insurance

September 20, 2012September 19, 2012 Marc

Chinese government aims to make health insurance and medical care more affordable China has been making significant changes to its insurance industry in recent years. The government has been laboring to make health insurance more inclusive for consumers throughout the country. Though it has seen modest success in this endeavor, the Chinese government continues to work on ways to improve the industry and make health insurance friendlier for consumers. According to Health Minister Chen Zhu, work is being done to ensure ill consumers do not lose everything they have in…

International Monetary Fund claims global economy is improving due to international cooperation

March 21, 2012 Marc

The global economy is showing significant signs of improvement, according to International Monetary Fund (IMF) Director Christine Lagarde. Lagarde traveled to Beijing this week to discuss the economic improvements that are being seen all over the world. Much of the improvements come from bold moves made in the insurance industry as a way to remedy the European financial crisis. With the help of insurers and reinsurers, the European Union was able to conduct the largest debt restructure in history and pull Greece from the brink of economic calamity. Lagarde notes…