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Life insurance premiums in APac will grow in 2023: GlobalData

Life insurance premiums in APac will grow in 2023: GlobalData

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Global Business Review Magazine
Thursday, August 11, 2022
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Life insurance premiums in APac will grow in 2023: GlobalData

Life insurance premiums in APac will grow in 2023: GlobalData

According to Global data, the written premiums will grow due to the aging population in the Asia-Pacific region along with growing middle class and its disposable income. It is set to arise from $1.2 trillion in 2019 to $1.5 trillion in 2023.

Insurance Analyst at Global data, Pratyush Mehra says that several countries are gradually recovering from the post disruption due to COVID because of the lifting of the lockdown. Singapore recovers positively in its economic activity from Q3 2020 aided in recovery in demand for its life insurance products. In Hong Kong, long term premium policies increased by 5.1 percent during the three quarters of 2020.

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Other than insurance sector, technology advancements also has gained more prominence. There is huge shift of insurers to digital platforms due to Covid social regulations.

A virtual face-to-face agency sales platform for insurance products also was launched in Hong Kong in June 2020.

Merger and Acquisition activities are to be picking up their pace in 2021 with activities in the reinsurance markets of Asia Pacific says Joyce Chan, Partner of Clyde & co Hong Kong. Investors will be bouncing back at a much faster rate to Asia Pacific compared to other regions.

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Tesla loses $ 126 BLN in value amid Musk Twitter deal funding concern

Twitter denies Musk’s assertions that he was duped

Tesla loses $ 126 BLN in value amid Musk Twitter deal funding concern

Twitter questions centre on Musk’s efforts to scuttle a $44 billion deal

Dollar stands tall as Covid stalks kiwi

U.S. banks are struggling with a trillion-dollar reverse repo

Support measures push Japanese corporate bankruptcies to 50 year low

Share markets fluctuate, dollar loses ground to the yen

Fed taper talk lifts dollar ahead of inflation test

Inflation strikes U.S. young, low-income individuals’ finances

Eurozone gets Inflation Positive

As inflation takes a pinch, the U.S. economy moderately recovered in the second quarter

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  • Inflation strikes U.S. young, low-income individuals’ finances

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