Posted on May 23, 2016 by Travis Jones
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New Insurance Trends Report from Pacific Prime!
Our top story is actually an announcement that Pacific Prime is quite proud of. We have released the first edition of our Top International Private Medical Insurance Trends report!
This new report takes an in-depth look at trends in the IPMI market by interviewing the people that have the best inside information, the insurers themselves. Pacific Prime interviewed a number of executives from major insurance companies for their input, including:
Bupa Global Managing Director, Robert Lang
AXA International Health Business Sales and Marketing Director, Kevin Melton
Allianz Worldwide Care Regional General Manager for Asia, Steve Conway
Cigna Worldwide Associate Director of Business Development, Mike Che
Aetna International Chief Compliance Office, Kapil Dhir
and Aetna International Lead Benefit Consultant, Steve Clement
Together, these insurance professionals gave a clear picture of 4 key trends seen in the IPMI industry today.
Pacific Prime’s Top International Private Medical Insurance Trends report is available on our website now. Business managers and HR professionals may find this report particularly interesting, so click on the link to have a look for yourself.
Sugar and Health
Our next story is all about a substance that is practically as common in our daily lives as the air or water, yet it has come under fire as a substance that is detrimental to our health. That’s right. We’re talking about sugar.
Around the globe, it is becoming increasingly common for unbiased scientists and doctors to come out against the level of sugar found in modern foods and diets. A prominent member of this community, Dr. Robert Lustig (a professor of pediatrics at the University of California, San Francisco) has gone viral with his global anti-sugar movement.
Not only does he point out the negative effects sugar can have on health, he also targets the food industry at large for their deceptive practices in hiding the sugar content of their products and presenting items filled with sugar as healthy alternatives. For example, despite fruit juices typically being thought of as healthy drinks, the added sugar content within them often times has them end up being no healthier than sugary carbonated beverages.
Some have even gone so far as to draw parallels between sugar consumption among children and alcohol abuse among adults. The moral of the story is to monitor the amount of sugar in the food you serve yourself and your family. This is because sugar leads to problems like type 2 diabetes, heart disease, fatty liver disease and tooth decay that are becoming more and more prevalent in developed societies, and lead to even more health problems down the line.
We wish we could say that keeping a healthy diet has never been sweeter, but it in this case it’s literally the opposite.
Asia to Continue as Hotbed of Insurance Mergers
Our final story of the month is likely welcome news to shareholders in Asian insurance companies. The region is likely to continue being a hotbed of mergers and acquisitions for insurers going forward.
In 2015, Asia saw a high level of M&A activity in the insurance sector, with major insurers absorbing or merging with others at a relatively high pace. According to eDaily, this trend is set to continue in 2016. This is exemplified by a comment from S&P Global Market Intelligence’s Head of Asia-Pacific Financial Institutions, Clement Ma, who said that Asia Pacific’s role in global insurance M&A is increasing. And Asia as a hub for insurance M&A is more than just about inbound deals, as 75% of M&A deals in the industry between the start of 2015 and the end of March 2016 involved an acquirer outside of the Asia-Pacific region.
Another recent article from Business Insurance.com does site Asia economic slowdown as one of the top industry risks, but, while the slowdown in China and elsewhere is being felt in many sectors, the insurance market still appears to be booming. The same website even reported a 42% increase in insurance revenues in Q1 of 2016.
We’ll see how it plays out this year, but we’re sure that Insurers in Asia are hoping that the future of M&A’s in the region is recession-proof.
That’s it for this edition of the Prime Times. We’ll be back next month with another dose of health and insurance news. Until then, for all your international health insurance needs, be sure to check out PacificPrime.com!