Turkiye overtook Saudi Arabia as the biggest market among 13 markets in the Middle East and North Africa, according to data published by Swiss Re Institute (SRI).
The profitability of Anadolu Anonim Turk Sigorta Sirketi's (Anadolu Sigorta) improved substantially in 2023, supported by both stronger, albeit still negative, underwriting performance and higher investment income as interest rates rose sharply in 2H23, notes Fitch Ratings.
Munich-headquartered global insurer Allianz, through its wholly-owned subsidiary, Allianz Europe (the Offeror), has announced a pre-conditional voluntary cash general offer to acquire at least 51% of the shares of one of Singapore's biggest composite insurers.
Commercial banks can continue to sell investment-linked insurance products through the bancassurance channel.
InsureCow, a provider of livestock insurance and management services which was founded in 2022, is expanding its reach across Bangladesh, with plans to venture as well into other emerging markets.
Global Parametrics, a CelsiusPro Group company, has partnered with One Acre Fund, an agricultural service provider offering financing and training to smallholder farmers, to provide financial protection to such farmers in Zambia and Malawi against the financial strain of losing their crops due to drought.
The Insurance Council of New Zealand (ICNZ) is urging the government to take a leadership role on climate adaptation and build New Zealand's resilience against the impact of climate change on lives and property.
The engineering insurance branch has posted the highest growth rate this year to date, with a rate of increase of 73% in the first five months.
Life insurance premiums in emerging markets, including those in Asia, will grow by 7.2% in real terms in 2024, with just 1.5% aggregate growth in advanced markets, says Swiss Re Institute (SRI).
Asia as a whole, including Australia and New Zealand, accounted for 24.5% of global premium volume in 2023 (2022: 25.5%), says Swiss Re Institute (SRI) in its report titled "World insurance: strengthening global resilience with a new lease of life", released yesterday.