AIA Hong Kong and Macau’s Post

AIA Group's 2023 profit surged 15%, reaching US$3.76 billion, driven by robust sales of insurance policies to mainland Chinese visitors in Hong Kong. The value of new business (VONB) soared by 33% to US$4.03 billion, reflecting strong demand post-Covid border reopenings. Hong Kong's VONB spiked by 82%, spearheaded by sales to mainland visitors. AIA also witnessed growth in key markets like China (20%), Thailand (21%), and Singapore (10%). Mainland Chinese tourists spent US$7.6 billion on Hong Kong insurance policies last year, accounting for over 32% of total sales. This surge followed a shift towards higher-yield investments amidst a weakening yuan. Despite the positive results, AIA's shares dropped over 2.5% post-announcement. Under Lee Yuan Siong's leadership, AIA has expanded through strategic acquisitions, including Blue Cross (Asia-Pacific) and BEA Life. AIA will pay a second dividend of 119.07 HK cents, bringing the full-year payout to 161.36 HK cents. #Growth #Business #Opportunity #Insurance #Asia I South China Morning Post SCMP I Enoch Yiu I AIA Singapore

My 90second summary of the #19sirc #insurance #reinsurance #brandbuilding brandformula

🟦 Hellenic Bank on Thursday announced that it has entered into exclusive negotiations and a put option with CNP Assurances for the acquisition of its subsidiary CNP Cyprus Insurance Holdings Limited, which operates in Cyprus and Greece. 🟦 The Bank of Cyprus on Thursday announced the successful launch and pricing of €300 million in green senior preferred notes under its EMTN Programme. 🟦 External reasons, combined with Cyprus’ economic conditions, are affecting both local and international demand in the local property sector, according to Michalis Tsangarides, director of Delfi Partners, who noted that foreign investors continue to sustain the market domestically. 🟦 The Paphos Regional Board of Tourism (Etap) is participating in the SMARTIES for SMEs project under the COSME programme, which is aimed at enhancing competitiveness in the tourism sector by building skills. 🟦 Cypriot beverage company Keo this week released its financial results for the fiscal year 2023, showcasing substantial growth in both turnover and profits compared to the previous year. 🟦 The Cyprus Stock Exchange (CSE) this week announced its acceptance of the introduction of government bonds to the market, in accordance with Article 58(1) of the Cyprus Securities and Stock Exchange Law. 🟦 The Bank of Cyprus on Thursday announced new stock acquisitions, having obtained a number of ordinary shares worth €0.10 each from its appointed trader, the Cyprus Investment and Securities Corporation (CISCO), earlier this week. 🟦 Stock market updates. #Cyprus #business #economy

"Ah, that'll never happen to me!" But sometimes life throws us curveballs, right? And that's why it's important to let your customers know that our products are here to catch those unexpected throws. Lost passport? We've got it. Flight gets cancelled? No worries. Surprise medical bills? All sorted. Fancy a chat or want more info? Drop us a line or check out our website! #JacksonLeeUnderwriting #Travel #TravelInsurance #Insurance #JLU #BIBA #ASAB

In Asia, Singapore has a great chance to be the "Bermuda in APAC", but the Japanese institutions are truly the ones with the advantage of having the reinsurance data on natural catastrophes and other physical risk events in this part of the world. 😉🤫👍 Readers' comments: A: article doesn't seem to really explain what Bermuda's approach is or how it is different (or the pros and cons of their approach). B: At the moment London is more like "Barbuda on Thames"! 🤫 ********************* “Singapore-on-Thames” has become a common meme used by politicians to pitch a hypothetical new model for the UK economy. But should the wholesale insurance market in London instead be pushing for a Bermuda-on-Thames regime for the UK reinsurance industry? With the UK’s excellent plumbing into global insurance markets, could an anglicised version of the prudential regulatory regime in Bermuda, which has emerged in recent decades as a leading market for offloading risks, turn London into an uncontested world leader in reinsurance? If so, this could bring significant capital flows and many new jobs to London, with commensurate increased tax revenues for the UK. ...."

😀 📣 NADA highlights economic challenges and opportunities for South Africa’s Auto Finance and Insurance Sector “As we navigate through a period of significant economic uncertainty, the role of F&I professionals has never been more critical. These dedicated individuals are at the forefront, helping customers make informed financial decisions amid challenging market conditions. Despite facing numerous hurdles, from stagnant economic growth and high inflation to increased regulatory demands, F&I professionals are demonstrating remarkable resilience and adaptability. Their unwavering commitment to maintaining the highest standards of compliance is essential in supporting both consumers and the automotive industry as a whole. Together, we are committed to steering our industry through these turbulent times and towards a more stable and prosperous future.” Brandon Cohen, NADA Chairperson, opening address at the 2024 F&I Industry Virtual Summit. Read more here: https://bit.ly/3VnZGhH  NADA - South Africa

Case study breakdown - The Solution Earlier in the week, we covered the first two steps in our case study breakdown, Background and Approach, of a Regional Airport requiring a comprehensive review of its commercial insurance and Workers' Compensation programs. 3️⃣ Solution: The client opted to appoint a new broker due to the preceding tender process that had proven experience in the Aviation sector, who later achieved considerable cost savings of more than $375,000 on behalf of the client, while also negotiating a number of enhancements in cover. Read the full case study here: https://lnkd.in/g-bZq22a. #casestudy #thelionpartnership #insurance #corporateinsurance

Learn why the captive insurance industry in the #CaymanIslands is going from strength to strength in this insightful Q&A with Suzanne Sadlier, Managing Director - Artex Cayman Islands and Captive International's 𝟮𝟬𝟮𝟯 𝗖𝗮𝘆𝗺𝗮𝗻 𝗖𝗮𝗽𝘁𝗶𝘃𝗲 𝗠𝗮𝗻𝗮𝗴𝗲𝗿 𝗼𝗳 𝘁𝗵𝗲 𝗬𝗲𝗮𝗿. The Q&A, titled 𝗖𝗮𝘆𝗺𝗮𝗻 𝗳𝗹𝗼𝘂𝗿𝗶𝘀𝗵𝗲𝘀 𝗮𝘀 𝗰𝗮𝗽𝘁𝗶𝘃𝗲𝘀 𝗯𝗼𝗼𝗺, is featured in the recent Captive International Cayman Focus 2024 edition. It explores Sadlier's perspectives on current market trends, growth, changes and challenges in the Cayman captive sector, as well as her advice for the next generation of insurance industry talent. ✅ Read the full Q&A at the link below: https://bit.ly/3Ryp2HI #CaptiveIndustry #AwardWinner #InsuranceInsights

🇸🇬 Welcome to the first of our daily editions from the 19th Singapore International Reinsurance Conference 2023 Read in full below or download here 👇 https://lnkd.in/gnhCRXYW   More than 2,800 people are expected at this year’s event, which takes place following significant hardening at recent regional renewals.    Expectations are for a more stable renewal at 1.1.2024, although loss-impacted markets will likely see continued upward rate pressure. We examine these trends in today’s daily edition. Tony Gallagher, CEO for Asia Pacific at Guy Carpenter, outlines why he believes the rate cycle has peaked in the region but warns on rising retentions.   Peak Re’s Jasmine Miow highlights trends across South and Southeast Asia, where reinsurers are re-examining cat exposures in markets such as Malaysia and the Philippines.   Our Analysis takes a look at the industry cat loss experience to date in 2023, with a focus on the Asia Pacific region.   We also present our latest selection of thought leadership from senior industry executives outlining what they consider to be the key industry topics for the region. Our Partners 🤝 Aon | Aspen Insurance Group | AXIS (AXIS Capital) | BMS Group | Everest | Gallagher Re | Guy Carpenter | Howden Tiger | Liberty Mutual Reinsurance | OdysseyRe | QBE Re | TransRe Singapore Reinsurers' Association #19SIRC #insurance #reinsurance

🇸🇬 Welcome to our third and final daily edition from this year’s Singapore International Reinsurance Conference. Read in full below or download here 👇  https://lnkd.in/gnhCRXYW   Today’s edition reflects the positive outlook among international reinsurers at this week’s event.   Tokio Marine Kiln’s Asia Pacific regional managing director Pavlos Spyropoulos reveals plans to double the premium written through its Lloyd’s Asia operation in Singapore by 2027.   TMK’s expansion plans come as premiums across the Lloyd’s Asia platform look set to top $1bn for the first time in 2023.     Munich Re Asia Pacific CEO Roland Eckl also presents a bullish outlook for the region, highlighting it as one of the major growth areas for the world’s largest reinsurer.    This year’s Singapore International Reinsurance Conference has attracted more than 2,800 delegates, a record attendance for an event that is growing in importance in the international reinsurance calendar.    We hope you have enjoyed our coverage from the event. Thanks to all our readers and to all our sponsors for your continued support.    Look out for our continued coverage of the upcoming reinsurance renewals in the run-up to 1.1… Our Partners 🤝  Aon | Aspen Insurance Group | AXIS (AXIS Capital) | BMS Group | Everest | Gallagher Re | Guy Carpenter | Howden Tiger | Liberty Mutual Reinsurance | OdysseyRe | QBE Re | TransRe Singapore Reinsurers' Association #19SIRC #insurance #reinsurance