Steadfast Group (Steadfast) has appointed Mr Nick Cook as executive general manager - Australasian networks, broker and insurer services; Mr Mark Senkevics as executive general manager - underwriting agencies, alternative risk transfer (ART), reinsurance and life, effective 1 July 2024 and Ms Meagan Jeffery as executive general manager - technology & information, effective 8 July 2024.
Material changes to the shareholding structure of Income Insurance could ultimately weaken the likelihood of support from the Singapore government through NTUC Enterprise Co-operative, the majority shareholder of Income Insurance, said S&P Global Ratings (S&P).
Sanlam Limited (Sanlam) and MultiChoice Group have entered into an agreement for Sanlam to acquire 60% of MultiChoice's insurance business, NMS Insurance Services (NMSIS), as well as a long-term commercial arrangement to expand insurance and related financial service offerings into MultiChoice's extensive African subscriber base.
With a rise in credit risk, the Omani insurance industry faces increasing challenges due to the enhanced impact of Expected Credit Losses (ECL), says the Dubai-headquartered international actuarial consulting company, Badri Management Consultancy.
The earnings of Qatar General Insurance & Reinsurance Company (QGIRC) have been supported by a track record of adequate underwriting profitability, with the company generally reporting positive technical results, says AM Best.
Prudential Hong Kong has celebrated a fresh milestone with the grand opening of its new multipurpose office for its agency force at AIRSIDE, a Grade A commercial landmark in Kai Tak.
The outlook for most of the life insurance markets in Asia Pacific is stable, said S&P Ratings Services in a report published last week.
Cathay Life Insurance, Taiwan's biggest life insurer, has been issuing debt to strengthen its regulatory capital buffer in preparation for the implementation of the Taiwan Insurance Capital Standard in 2026, notes Fitch Ratings.
Accelerating the development of the insurance industry will help improve China's financial market structure, optimise the allocation of financial resources, and enhance the stability of the financial system, a top Chinese regulatory official has said.
The life insurance industry in China has entered a "Three low's" stage of low interest rates, low returns, and low solvency, with small and medium-sized companies in particular under heavy pressure.