The Insurance Institute of Zimbabwe (IIZ) says that the informal economic sector in Zimbabwe remains largely uninsured because most products and services are geared to the formal economy.
Listed insurers in the GCC region have registered an impressive growth of 8.0% in after-tax profits with a mere y-o-y increase of 1.1% points in the net combined ratio (NCR) as the damage from a series of rain events, including the UAE's record-breaking rainfall in April 2024 has been contained to a large extent by reinsurance arrangements for most insurers.
Al-Etihad Cooperative Insurance Company has announced that it has received an Insurance Financial Strength Rating (IFSR) of 'A3' with a 'Stable' outlook from Moody's Ratings.
Officials are discussing a proposal to increase the foreign direct investment (FDI) limit for insurance to 100%, from the current 74%, a move which has the backing of the Insurance Regulatory and Development Authority (IRDAI).
Brisbane-headquartered Suncorp Group yesterday reported an increase in earnings driven by improved underlying margins, positive investment returns and natural hazard costs below allowances.
Taiwan's basic residential earthquake insurance scheme had a coverage of 38.6% as of 31 July 2024, based on 9.32m households islandwide, indicating that more than 60% of homeowners are still uninsured.
The Thai General Insurance Association (TGIA) will soon publish a manual containing ESG guidelines to promote sustainable business practices among general insurers.
In 2024, the overall Financial Confidence Index (FCI) remains stable, with slight improvements noted in Financial Resilience (FR) and Financial Wellbeing (FW) compared to 2023, says Sanlam, which is South Africa's largest insurer.
The combined profit before tax of 26 listed insurance companies in the UAE grew by 7% to AED1,044m ($284m) in 1H2024 from AED975m in 1H2023, according to Badri Management Consultancy, an international company that specialises in actuarial services and provides financial services, strategic HR consulting, data management, business intelligence and other services.
Educating the public about the importance of insurance must be approach in a more integrated way, according to Mr Uger Gulen, president of the Insurance Association of Turkiye (TSB).