This edition of South East Asia in focus, Milliman’s newsletter on the health insurance sector, reviews developments in Hong Kong, Indonesia, Malaysia, the Philippines, Singapore, Thailand, and Vietnam through the first half of 2025. The focus this year is on how regulators and market participants are responding to medical inflation, highlighting new strategies in benefit design, reimbursement, network structure, and data transparency.

Topics covered for each country include:

• New product launches
• Distribution and insurtech trends
• Insurers’ strategic initiatives
• Mergers and acquisitions
• Regulatory reforms
• Updates to national health schemes

Emerging regional themes include stronger use of co-payments and deductibles, tighter benefit limits, deeper collaboration across stakeholders to reform provider payment, expansion of insurer-led networks, and growing demand for data and cost transparency.