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GlobalData
GlobalData

Insurance

Youthful embrace of sustainable investing signals long-term ESG imperative for pension providers and wealth managers across the world, says GlobalData

In an era of evolving challenges, pension providers and wealth managers need to navigate a crucial path by upholding environmental, social, and governance (ESG) principles. The rise in younger consumers embracing sustainable investments underscores the enduring significance of ESG commitments. With climate change concerns looming and a generational wealth transfer on the horizon, adhering to […]
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Indonesia property insurance industry to surpass $2 billion by 2027, forecasts GlobalData

Indonesia’s property insurance industry will grow at a compound annual growth rate (CAGR) of 8.7% from IDR26.6 trillion ($1.7 billion) in 2023 to IDR37.1 trillion ($2.4 billion) in 2027, in terms of gross written premiums (GWP), forecasts GlobalData, a leading data and analytics company. According to GlobalData’s Insurance Database, Indonesia’s property insurance market is projected […]
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Natural hazard losses will weigh on profitability of Indian property insurance industry, says GlobalData

Frequent natural catastrophic (nat-cat) events, such as the heavy rainfall in July 2023 in Northern India and the cyclone Biparjoy that hit Gujarat and parts of Rajasthan in June 2023, will challenge the profitability of the Indian property insurance industry, says GlobalData, a leading data and analytics company. According to GlobalData’s Insurance Database, the Indian […]
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Taiwan life insurance market to witness growth from 2024 after years of decline, says GlobalData

After witnessing a continuous decline since 2019, Taiwan’s life insurance market is set to make a turnaround from 2024, driven by an improvement in the global macro-economic situation, an increase in interest rates and positive regulatory developments, according to GlobalData, a leading data and analytics company. According to GlobalData’s Insurance Database, Taiwan’s life insurance market […]
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Insurers need to keep targets to combat climate change, says GlobalData

Industry experts believe insurers sticking to targets around both underwriting carbon-emitting projects and investing in polluting companies, industries, and funds is the most important thing they can do to fight climate change, as the Net-Zero Insurance Alliance (NZIA) drops the requirement for members to keep issuing targets amid leading players leaving the collaboration, according to […]
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Indonesia insurance sector will see increased M&A from new capital requirements regulation, says GlobalData

Indonesia’s proposal to substantially increase the minimum capital requirement (MCR) for insurance and reinsurance companies is expected to result in increased merger and acquisition (M&A) activities, resulting in further consolidation of the country’s insurance industry, which is estimated to grow at a compound annual growth rate (CAGR) of 6.4% from IDR264.8 trillion ($17 billion) in […]
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Regulatory developments to drive UAE general insurance market to grow by 13.2% in 2023, says GlobalData

The United Arab Emirates (UAE) general insurance market is forecast to register double-digit growth of 13.2% in 2023, supported by regulatory developments and rising insurance premium rates, according to GlobalData, a leading data and analytics company. GlobalData’s Insurance Database reveals that the UAE general insurance market accounted for 82.3% of the country’s conventional insurance industry […]
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Singapore property insurers will remain profitable in 2023 with adequate reinsurance coverage, says GlobalData

The Singapore property insurers are expected to remain profitable in 2023 due to disciplined underwriting, adequate reinsurance coverage, and growing premiums from compulsory fire insurance, says GlobalData, a leading data and analytics company. According to GlobalData, Singapore’s property insurance industry, in terms of gross written premiums, is projected to grow at a compound annual growth […]
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