South Africans are diversifying their risk cover to include life insurance that pays out offshore, in US dollars, according to research findings by Discovery Life.
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.
German global insurer Allianz's proposed acquisition of a majority stake in leading Singapore insurer, Income Insurance, would clearly strengthen Allianz's business profile in Asia, a strategic area of growth for the group, says Mr Manuel Arrive, a director of insurance at Fitch Ratings.
Fitch Ratings ranks Resolution Life Australasia's (RLA) company profile as 'Moderate', compared with other insurers in Australia, reflecting its larger operating scale and strategy of managing run-off businesses.
Giza-based health maintenance organisation (HMO), Unicare, intends to transform itself into a specialised medical insurance company.
In the first half of the year, China's five major 'A'-share listed life insurance companies achieved a total premium income of CNY1.12tn ($154.42bn), a year-on-year increase of 2.12%.
Aviva-COFCO Life Insurance posted an operating income of CNY14.46bn ($2bn), a year-on-year increase of 51.35%, of which insurance business income was CNY10.91bn, a year-on-year increase of 24.28%.
China remained the second largest insurance market in the world in 2023, with total premiums of $724bn. This represents a 10% global market share, says Swiss Re Institute (SRI). The market share was stable compared to 2022 when it stood at 10.3%.
A total of 13 insurance companies, including pension insurers, received approval from the National Financial Regulatory Administration in the first six months of this year for capital increases.