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GlobalData
GlobalData

Insurance

Dai-ichi consolidates dominant position in Australia with Westpac life insurance acquisition, says GlobalData

TAL Dai-ichi Life Australia, a wholly owned subsidiary of Japan-based Dai-ichi Life Holdings, has recently signed a binding share sale agreement to acquire Westpac Banking Corp’s life insurance business in Australia for AUD900m (US$660m). The agreement will allow TAL to strengthen its position as the largest life insurer in in Australia, says GlobalData, a leading […]
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Neos limited presence among UK consumers may be challenging for Sky

Aviva has sold smart home technology provider to Sky, after a successful partnership which modernized the insurer’s home insurance offering and saw it hold the largest market share in that line, according to GlobalData GlobalData’s 2020 UK Insurance Consumer Survey found that only 3.9% of consumers had heard of Neos. This is most likely because […]
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Marine, aviation and transit insurance in Asia-Pacific to reach US$14.5bn by 2025, forecasts GlobalData

The marine, aviation and transit (MAT) insurance industry in Asia-Pacific is projected to grow from US$11.2bn in 2019 to US$14.5bn in 2025, in terms of written premiums, according to GlobalData, a leading data and analytics company. GlobalData’s insight report, ‘Global Marine, Aviation and Transit Insurance Market to 2025 – Key Business Lines, Trends, Drivers, Challenges, […]
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Increased levels of personalization hit the term assurance market as more insurtechs launch pay-as-you-go life insurance, says GlobalData

Over the past year life insurers have had to rethink their strategies, being pushed to adopt greater levels of digital services and underwriting flexibility – an area where life insurers have typically lagged. While the direct channel was already gaining ground before the COVID-19 pandemic, consumers’ preference for life insurance is bound to continue shifting […]
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Cyber insurance industry to exceed $20bn by 2025, says GlobalData

The global cyber insurance market was worth $7bn in gross written premiums (GWP) in 2020 and will reach $20.6bn by 2025, as the market will continue to thrive post-COVID-19, according to GlobalData, a leading data and analytics company. GlobalData’s report, ‘Cyber Insurance, 2021 Update – Thematic Research’, reveals that cybersecurity was thrust into the spotlight […]
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Favorable regulatory landscape to drive Chinese reinsurance market at 6.8% CAGR through 2024, forecasts GlobalData

The China Banking and Insurance Regulatory Commission (CBIRC) has recently proposed revisions to the reinsurance regulatory regime. Against this backdrop, China’s reinsurance market is expected to grow at a compound annual growth rate (CAGR) of 6.8% during 2019-24, forecasts GlobalData, a leading data, and analytics company. The proposed regulations aim to strengthen the risk management […]
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Aon and Willis Towers Watson merger will complement their business solutions and deliver better client services, says GlobalData

Following the news that the Justice Department in the US has filed an antitrust lawsuit that blocks insurance broker Aon’s proposed $35bn acquisition of Willis Towers Watson (WTW), which was announced back in March 2020; Jazmin Chong, Insurance Analyst at GlobalData, a leading data and analytics company, offers her view: “The combination of both Aon’s […]
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