In 2023, China's mortality protection gap narrowed by 6% from the year before and the resilience index gained 2.3 percentage points (ppts) to 38.3%. This marks a turnaround after several years of declining mortality resilience and a widening protection gap, says Swiss Re Institute (SRI).
Less than 10% of micro, small, and medium enterprises (MSMEs ) in India have adequate insurance coverage, according to a report released by the National Institute for Micro, Small and Medium Enterprises (NI-MSME).
Over half (55%) of respondents in Macau cite high medical costs as a major obstacle to achieving "medical freedom", according to the results of a survey by Prudential Hong Kong (Macau Branch). In addition, the respondents anticipate needing about an average of 16 years of their household income to ensure medical freedom.
Concerns are growing over the shortage of skilled professionals in the insurance sector in Ethiopia, as the government plans to open the sector up to foreign investors.
Gulf Insurance Group (GIG), a leading insurance group in the MENA region and the largest in Kuwait, yesterday announced a net profit of KWD16.8m ($54.7m) for the first half of 2024, plunging by 33.6% from KWD25.3m for the corresponding period last year.
Bahrain National Holding (BNH) has reported a net profit attributable to shareholders of BHD2.64m ($7.01m), a 37% decrease from the attributable net profit of BHD4.16m achieved during the first half of 2023.
Syarikat Takaful Malaysia Keluarga (Takaful Malaysia) has launched Kaotim Legasi, an affordable Hibah (conditional gift) takaful plan with high coverage of up to MYR2 million.
Meiji Yasuda Life Insurance Company has announced that its US subsidiary StanCorp Financial Group has reached a $2-bn agreement with The Allstate Corporation, a major US property and casualty insurance company.
The Insurance Regulatory Commission of Sri Lanka (IRCSL) has announced plans to implement reforms aimed at strengthening the stability and resilience of the local insurance industry, as the sector grapples with economic challenges that have stalled its growth.
Taiwan's financial services sector has reduced its exposure to mainland China in the wake of uncertainties arising from the political and economic situation across the Taiwan Strait and the on-going Sino-US trade war.