Finance Minister Nirmala Sitharaman has proposed in the 2024 Budget unveiled yesterday that a reduction in the TDS (Tax Deducted at Source) rate to 2% from 5% on payouts from life insurance policies.
The Australian Consumers Insurance Lobby (ACIL), a consumer advocacy group, has stressed the urgent need to address the disparity in insurance premiums between northern and southern Australia, advocating for a fairer and more equitable system.
The profitability of Reasuransi MAIPARK Indonesia (MAIPARK) has improved, reflected in an increase in return on equity (ROE) to 10% in 2023, from 7% in 2022, on higher investment income, Fitch Ratings has pointed out.
The Insurance Authority (IA) says that it and the country's insurance sector was unaffected by the 19 July massive global tech outage.
Al Ahleia Insurance Co (Al Ahleia), which is the majority shareholder of Kuwait Re, has an operating performance that is commensurate with a strong assessment, says AM Best.
LM Re has appointed Mr Mark De La Mare as head of Australia and New Zealand, effective October 2024. In his new role, he will lead the LM Re underwriting team based in Sydney and playing a pivotal role in LM Re's strategy for the region.
s a result of increased uncertainty, awareness of the benefits of insurance has risen across society in Malaysia, but affordability and availability remain major issues, said Mr Ahmad Noor Azhari Abdul Manaf, president and CEO of Malaysian Reinsurance (Malaysian Re).
Kuwait Reinsurance Company's underwriting discipline and prudent risk selection are expected to support continued improvements in its operating metrics, says AM Best.
Aon has appointed Mr Ed Thomas as head of Lloyd's Capital within its Reinsurance Solutions Capital Advisory team.
Société Tunisienne de Réassurance (Tunis Re) has promising prospects and is expected to improve its financial performance, indicates BMCE Capital Securities.