Rise of China insurance and wealth management firms are shrinking office vacancy rates in Hong Kong.
The insurance industry from 27 to 31 July saw growing focus on retirement and long-term care preparedness, AI-driven transformation, and regional market developments.
Planning for long-term care remains low amongst Singaporeans, as only 19% of respondents understand and have planned for their future care needs.
To fund potential long-term care, 52% expect to rely on government schemes, whilst 23% anticipate using private insurance, according to the AIA Longevity Study published on 23 July.
More than half of Singaporeans view living longer as a concern rather than an opportunity, the report added.
Around four million Australians have never reviewed the performance of their superannuation fund, leaving their retirement savings unchecked.
A survey of 1,010 Australians found that 19% have never compared or reviewed their super fund’s performance, according to new research by Finder.
Another 16% said they last checked their fund more than a year ago, whilst only 26% had reviewed it within the past three months and 22% within the past year. Around 18% said they do not have a superannuation fund.
In the technology aspect, nearly half of institutions expect that automation will replace more than 25% of their company’s workforce, following the news that Allianz Partners reportedly prepares to cut up to 1,800 jobs whilst expanding its use of artificial intelligence (AI).
Greater use of AI is helping insurers reduce costs, improve processing speed and address labour shortages, GlobalData said.
In regional events, a surge in leasing by mainland China insurance and wealth management companies is driving down office vacancy rates in Tsimshatsui, Hong Kong.
Growing wealth inflows from mainland China have boosted demand from the insurance sector, helping lower the vacancy rate for
Grade A office space in Tsimshatsui to 6.7% at the end of June, according to property consultancy JLL’s latest Hong Kong Monthly Market Dynamics report.
Japan’s magnitude 7.1 earthquake on 28 July 2026 is expected to have its total insured financial losses to remain well below those of the 2016 Kumamoto earthquake and closer to the level of the 2024 Noto earthquake, provided aftershocks do not cause further major damage.
Reinsurance brokerage firm Howden Re noted that the tremor shares a similar magnitude and depth to the 2016 Kumamoto earthquake sequence.
Researchers had previously flagged elevated geological stress on the fault segments south of the 2016 rupture. Experts believe the event was likely caused by the southern Hinagu/Yatsushiro fault system, which may not have experienced a major surface-rupturing earthquake for centuries.