The premium income of the life insurance business (not including health and annuity) of the five major 'A'-listed insurers have continued to pick up. In the first seven months of this year, their combined premium income totalled about CNY1.23tn, with a year-on-year increase of 2.64%.
In 2024, the overall Financial Confidence Index (FCI) remains stable, with slight improvements noted in Financial Resilience (FR) and Financial Wellbeing (FW) compared to 2023, says Sanlam, which is South Africa's largest insurer.
The lack of progress by superannuation funds in tracking the success of their retirement income strategies, an area specifically called out in APRA and ASIC 2023 thematic review report, is most concerning, APRA deputy chair Margaret Cole has said.
Almost 60% (57.44%) of respondents in a recent poll believe that the current retirement age in China is appropriate, according to Real Research, an online survey app.
Retirement confidence can be boosted through simple daily habits such as planning and goal setting, saving money and paying off bills, according to new research conducted by AustralianSuper, the country's biggest superannuation fund.
The latest Financial Stability Report (FSR), published by the three financial market regulators - the Insurance and Social Welfare Supervisory Authority, Bank Al-Maghrib and the Moroccan Capital Market Authority - has again sounded the alarm and called for the acceleration of pension reform in Morocco.
The number of Australians with complex financial advice needs will grow by 70% in 25 years - from 4.3m to 7.2m. However, regulatory design has favoured default settings and ignored Australian consumers requiring more complex and personalised financial advice, said the Financial Services Council (FSC).
Turkiye Sigorta,the leading non-life insurer in Turkiye, and Turkiye Hayat Emeklilik, the country's biggest life insurer, have announced a combined net profit of TRY11.22m ($340m) for the first six months of 2024.
Currently, the average life expectancy of Chinese people has reached over 78 years, yet the retirement age remains one of the lowest in the world -- 60 for men, 55 for women in white-collar jobs, and 50 for working-class women.
Finance Minister Nirmala Sitharaman has proposed in the 2024 Budget unveiled yesterday that a reduction in the TDS (Tax Deducted at Source) rate to 2% from 5% on payouts from life insurance policies.