Malaysia: 26% increase in number of non-life agents expected

The number of general insurance agents in Malaysia is expected to grow by 26% this year, from more than 35,000 in the industry in 2010 (Source: Asia Insurance Review 15/9/2011).

How many of those Agents who will remain active in the insurance market place? From my personal  experience and observation, at least 80% of newly registered Agents will disappear from the scene in less than 2 years. Majority who remained, are likely to be less active in the market either these people have vested business elsewhere (where insurance commission is just a side income) or they are just contented with the little commission earned from the insurance agency.

Applying the 20:80% rule, the fact remained that 20% of active agents are likely to be the main contributors to the Insurers' coffers in terms of insurance premium generated.

Two in five Indians are considered unhealthy

A study by a prominent health insurance company in India claims that 40% in the country are unhealthy, while one out of every 10 is obese (Asia Insurance Review 25/8/11)

Malaysia? Could be worst with the many fast foods, oily foods, junk foods, high cholestrol foods etc available for consumption 24 hours a day and yet everyone blamed no time for any form of exercises.

Even at the walkalator seen at airports, people just stand and let the walkalator takes them to the end of the line. Some people at fitness centre must take the lift to the 1st floor to exercise when one can easily walk up there to burn some calories. Just Plain lazy.

1.Australia: US$1.89 bln paid out for CATs

Insurance payouts after the Queensland floods and Cyclone Yasi have reached A$1.86 billion (US$1.89 billion), says the Insurance Council of Australia (ICA) in a report in the Herald Sun.



2.Australia: Insurance market heats up with new entrant
 
Supermarket giant Woolworths has teamed up with Swiss Re, the second largest reinsurer in the world, and The Hollard Group, a leading international insurance provider, to offer first life and pet insurance policies, with home and car policies to follow later. The products will be sold through call centres and online only, not in-store.


3. Australia: IAG warns of premium hikes;

Suncorp sees little room for higher premiumsInsurance Australia Group, the largest car and home insurer Down Under, warns that pressure remains for a further hike in premiums following billions ofdollars in payouts in the wake of a string of major natural disasters over the past year.


Source: Asia Insurance Review Aug 2011