News
Retail growth masks consumer budget squeeze
2+ hour, 9+ min ago (419+ words) High-end watches, jewellery, and expensive household furniture face an intense winter slump. Singapore's retail sales are set to grow this year, but experts said the pace could slow as higher energy costs squeeze spending and regional tourism softens. The latest…...
South Korea insurers" $3b profit leaves non-life firms behind
4+ day, 3+ hour ago (330+ words) The 30 non-life players reported $1. 4b after a year-on-year decline. South Korea's insurance industry first quarter 2206 (Q1 2026) net income rose 9. 5% year-on-year (Yo Y) to $2. 9b (KRW4. 48t). The higher combined earnings of 52 insurers, including 22 life insurers and 30 non-life insurers, were driven by stronger investment income at life…...
South Korea insurers lift overseas profit to $197m
5+ day, 2+ hour ago (331+ words) FSS said earnings rose by $37. 9m from $159. 1m a year earlier. South Korean insurers" overseas businesses posted higher earnings in 2025, helped by stronger results from life insurers and newly consolidated overseas operations. The overseas businesses of domestic insurance companies reported net income…...
ASEAN manufacturing growth improves in May
6+ day, 51+ min ago (300+ words) The region's PMI rose for the first time in three months as new orders and output strengthened. ASEAN manufacturing conditions improved at a faster pace in May 2026, supported by stronger growth in new orders and output, according to S&P…...
Philippine insurance seen growing 9. 6% vs 8. 3% GDP growth
6+ day, 2+ hour ago (342+ words) The projection exceeds the expected pace of worldwide industry expansion. The Philippines' insurance market is expected to grow by 9. 6% annually over the next decade, outpacing projected nominal gross domestic product growth of 8. 3%. The report forecasts global insurance market growth of…...
Iran war raises long-term risks for Asia builders' insurance gains
2+ week, 5+ day ago (532+ words) Supply chain disruption and energy volatility could push premiums higher by 2027. Insurance costs for construction projects across Asia are falling as competition intensifies, but the war in the Middle East is creating risks that could reverse the trend by late…...
Construction demand may reach $53b amidst rising costs
3+ week, 3+ day ago (19+ words) Singapore construction demand is projected at $47b to $53b in 2026, driven by public sector demand and infrastructure projects....
Southeast Asia insurers risk profit hit from weak data systems
4+ week, 3+ hour ago (479+ words) Igloo CEO says outdated infrastructure limits AI gains despite rising spending. Southeast Asian general insurers could lose up to four percentage points in profitability if they deploy artificial intelligence (AI) on outdated data systems, as weak infrastructure limits gains from…...
Asia's commercial insurance rates drop 5% in Q1 2026
1+ mon, 3+ day ago (297+ words) This marks the seventh straight quarter of declines across the region. Commercial insurance rates in Asia fell by 5% in the first quarter of 2026 (Q1 2026), making it the seventh quarter in a row of rate decreases. According to Marsh's Asia Insurance Market…...
Australia premiums soften amidst reinsurance relief
1+ mon, 3+ day ago (25+ words) Australia's non-life insurance sector remained the dominant part of the country's insurance market and showed improved profitability in the 2025 fiscal year....