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GlobalData
GlobalData

Insurance

Insurers facing business interruption claim lawsuits could lose business due to hampered reputations, says GlobalData

Following the news that insurers including Aviva and Liberty Mutual are all being pursued over failing to settle COVID-19-related business interruption (BI) claims; Benjamin Hatton, Associate Insurance Analyst at GlobalData, offers his view: “Business interruption cover is a complex policy, with a crisis such as a coronavirus pandemic highlighting the ambiguity in policy wording that […]
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Seasonal products will help Japanese PA&H insurers boost growth, says GlobalData

Japanese personal accident and health (PA&H) insurers have started offering insurance policies covering seasonal illnesses. Given a persistent decline in premiums due to challenging economic conditions, the move is expected to help the country’s PA&H insurance industry to boost revenue growth, says GlobalData, a leading data and analytics company. As per GlobalData’s insurance database, Japan’s […]
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Asia-Pacific reinsurance growth to be hindered by natural hazard losses and inflation in 2023, says GlobalData

With the Asia-Pacific (APAC) region’s exposure to extreme weather events leading to unsustainable natural hazard losses and high inflation worsening them, reinsurers in the region will face challenges in their growth in 2023, says GlobalData, a leading data, and analytics company. GlobalData’s insight report, ‘Reinsurance Market Size and Trends Analysis by Region, Business Lines, Top […]
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Medibank regains top position in Australia health insurance market in 2022, reveals GlobalData

Medibank regained its position as the leading Australian health insurer in 2022, ending the six-year dominance of Bupa, says GlobalData, a leading data and analytics company. GlobalData’s Insurance Database reveals that in a highly consolidated Australian health insurance market, Medibank’s direct written premiums (DWP) grew at a compound annual growth rate (CAGR) of 2.1% during […]
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More than half of UK employees did not anticipate returning to an office-based working model in 2022, says GlobalData

More than half of UK employees did not believe they would return to in-office work full time in 2022, according to a survey by GlobalData. The leading data and analytics company notes that increasing consumer demand for flexible working models will present both challenges and opportunities for insurers moving forward. GlobalData’s survey, conducted as part […]
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Vietnam life insurance industry to reach $17 billion by 2026, driven by economic recovery and endowment insurance demand, forecasts GlobalData

The life insurance industry in Vietnam is set to grow at a compound annual growth rate (CAGR) of 20.8% from VND159.2 trillion ($6.9 billion) in 2021 to VND410.3 trillion ($17 billion) in 2026 in terms of gross written premium (GWP), forecasts GlobalData, a leading data and analytics company. According to GlobalData’s Insurance database, the Vietnamese […]
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Hong Kong life insurance industry to rebound in 2023, driven by economic recovery and easing travel restrictions, says GlobalData

The Hong Kong life insurance industry is set to return to growth in 2023, after declining by 0.3% and 4.6% in 2021 and 2022, respectively, due to strict COVID-19 restrictions and economic slowdown. The recovery in the country’s life insurance market will be driven by ongoing positive economic developments and lifting of international travel restrictions, […]
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Saudi Arabia’s general insurance industry to reach $14.5 billion by 2026, driven by increased health awareness and recurring natural disasters, says GlobalData

Saudi Arabia’s general insurance industry is expected to grow at a compound annual growth rate (CAGR) of 6.2%, from SAR40.3 billion ($10.7 billion) in 2021 to SAR54.6 billion ($14.5 billion) in 2026 in terms of gross written premiums (GWP), according to GlobalData. The leading data and analytics company notes that growth will be driven by […]
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Portugal’s general insurance industry to reach $9.3 billion by 2026, forecasts GlobalData

In terms of gross written premiums (GWP), Portugal’s general insurance industry is set to grow at a compound annual growth rate (CAGR) of 5.9% from €5.7 billion ($6.8 billion) in 2021 to €7.6 billion ($9.3 billion) in 2026, forecasts GlobalData, a leading data and analytics company. According to GlobalData’s Insurance Database, Portugal’s insurance industry is projected to grow by […]
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Digital distribution and customization to boost revenues of top Singapore insurers, says GlobalData

The top insurance companies in Singapore are set to witness a revenue growth over coming years, as digital distribution and increased customization enable them to enhance their offerings amidst a positive environment created by easing COVID-19 restrictions and a recovery in global economic activity to pre-pandemic levels, says GlobalData, a leading data and analytics company. […]
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