Insurance has rarely been as exciting as it is right now - at least in Asia.

The sector has seen a rash of deals in recent weeks, including Prudential's $585m acquisition of a Thai life insurance business, and the disposal of ING's Malaysian, Hong Kong and Thai units for a combined $4bn. Chinese insurer PICC is also planning an up to $4bn initial public offering in Hong Kong, which would be the city's biggest listing this year.