A new Swiss Re report has shown that there was a global gain in this sector, despite only slight economic improvement. Swiss Re, the global reinsurance company, has recently released a report that has shown that the global life insurance industry had managed to gain momentum in 2014, even though the economic situation saw only the slightest growth. The total number of direct premiums that were written increased by 4.3 percent. This is particularly notable following the trend in 2013, in which the total number of direct premiums written had…
Read MoreTag: life insurance sector
Life insurance industry in India to rise by 15 percent by 2018
Recent estimates have shown that the sector is strong in the country and that it will see steady growth. The latest estimates from the life insurance sector of the industry in India has indicated that there will not only be increases in size over the next five years, but that it will be up to 15 percent compounded annual growth. There are many reasons for this high growth rate, but it is especially credited to two main ones. These two main factors that are sending the life insurance industry upward…
Read MoreLife insurance industry in Thailand should grow 17 percent
This is expected to occur this year even despite the indication of a slowing economy. Though predictions are suggesting that the economy in Thailand will slow during the second half of the year, the Thai Life Assurance Association still believes that the life insurance market will continue its growth by about 17 percent in 2013. Insurers have been designing new products that are better suited to customer demand, allowing them to continue selling. According to the president of the association, Sara Lamsam, “The market growth follows the introduction by all…
Read MoreLife insurance settlements in California reach $763 million
So far, there have been 11 insurers that have joined into the multistate agreement to pay. According to John Chiang, the California State Controller, there have been 11 life insurance companies that have now signed the multistate settlements for unpaid benefits of up to $763 million. These settlements were the result of a half decade investigation conducted by Mr. Chiang and his team. This investigation looked into the compliance that the life insurance industry has maintained with the unclaimed property laws in California. What his research revealed was that companies…
Read MoreLife insurance policies from Hong Kong selling well in China
Mainland Chinese consumers are helping to boost the sale of the coverage through cross border shopping. Visitors from mainland China have been helping to increase the success of the life insurance industry in Hong Kong as they have been buying policies at a rate that is returning the sector nearly to the level that it had reached before the global economic crisis began. New premiums for the policies are helping to boost the appeal of the coverage, leading to considerable recovery. The newly created premiums for life insurance being sold…
Read More