Global consulting and actuarial firm Milliman in June 2017 released the findings of a study titled “Participating business in Asia: 2016 Edition.”
The study analyses and compares participating (par) business across seven Asian insurance markets, most notably Singapore, India, Malaysia, Hong Kong, mainland China, Indonesia and Sri Lanka.
The report collates in-depth information not otherwise available and provides insight from survey results about par business in Asia and includes:
- A regional view of common themes and differences between the seven selected markets
- Detailed country commentary on par business performance, regulatory environments and key challenges
- Qualitative insights into par business in these countries
- Analysis of the governance frameworks in place and roles of policyholder advocates
“Par products have been a core insurance offering for many decades in many markets across Asia Pacific and in Singapore, Hong Kong and India they remain a cornerstone of the industry,” said Richard Holloway, managing director for Milliman’s South East Asia and India life consulting practice. “However, increased regulatory scrutiny of par business in countries such as Malaysia and the onset of risk-based capital solvency regimes in most markets may lead to a gradual decline in the popularity of such products. This report unlocks key considerations for companies offering par products across the region, highlighting differences in performance, investment approach, and governance of par across the seven markets.”
No distinction was made in the survey between group and individual lines, nor did Milliman specifically look at products targeting expats .
Download the PDF here.