The National Financial Regulatory Administration has released guidelines to tighten the regulation of online P&C insurance business undertaken by insurers and insurance intermediaries.
The green insurance premium income of Ping An Insurance (Group) Company of China amounted to CNY37.3bn ($5.2bn) for the 2023 financial year, nearly 49% higher than in 2022.
Hyundai Insurance (China) [HIC] is expected to as a minor player in China's non-life insurance market in the intermediate term, says AM Best. This would be despite the insurer achieving significant growth in its top line.
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).
The Thai General Insurance Association (TGIA) has revealed that nine of its member companies are accepting transfers of insurance policies from the bankrupt Syn Mun Kong Insurance Public Company (SMK) so that SMK customers can have continuous insurance coverage.
Insurance Council of Australia (ICA) and Planning Institute of Australia (PIA) have together called on local, state and federal governments to reduce vulnerability to natural hazards and to make progress on much needed reforms against a backdrop of growing housing challenges.
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.
The Saudi Ministry of Culture has launched an cultural insurance product, which provides insurance coverage for those in charge of cultural assets and collectors of works of art, offering protection against potential damage.
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.