APAC

Both P&C and L&H saw robust growth in their 2023 performance.

The survey also showed more trust in social media marketplaces versus the companies selling goods through these platforms.

The APAC business also announced a partnership with India-based Kotak Mahindra Bank.

Its life and health reinsurance segment is projected to reach $1.5b in profits.

The CEO said a shift towards a more balanced relationship between insurers and reinsurers, with a clearer division of labour, in terms of the renewal season.

Its gross tonnage (GT) rose to 256 million as of 20 February.

It plans to offer risk transfer services to clients in South Korea, Vietnam, and other parts of APAC.

Its P&C business leads with $1.9b.

An estimated 16% of Asian insurers’ revenues are now derived from embedded insurance.

APE sales rose 15% to $3.3b for the year.

He begins his new role on 1 April.

Earnings per share is $2.62 for the period

P&C and L&H both saw double-digit contractions.

But capital buffers may narrow due to dividend payout and share buyback schemes.

Regional office expenses and other factors resulted in a net loss of $12m.

Whilst AI investments reached 23.93% of the total market, 41% of firms in Asia Pacific cling to outdated tech, hindering efficiency and scalability.