Dubai-listed Sukoon, the third largest insurer in the UAE, has completed the acquisition of the UAE Life insurance portfolio of Chubb Tempest Life Reinsurance.
Dubai Islamic Insurance and Reinsurance Co (Aman) has said that it "will be taking the necessary steps to protect its interests", after Abu Dhabi National Takaful Company (ADNTC) stated that it had terminated an agreement to acquire Aman's life insurance portfolio.
The Insurance Authority has signed a memorandum of understanding (MoU) with the General Organization for Social Insurance (GOSI) to cooperate in providing insurance products and services, developing related electronic and digital transactions, exchanging expertise, and enhancing business development between the two sides, to enhance beneficiary satisfaction.
China's five major 'A'-share listed companies reported a combined net profit attributable to the shareholders of the parent company of CNY171.8bn ($24.2bn) in the first half of this year, exceeding the CNY165.5bn for the whole of 2023, according to data from interim financial statements released by the companies.
Insurers in Hong Kong generated new business premiums of HK$29.7bn ($3.8bn) from mainland Chinese visitors (MCVs) in the first six months of this year, according to data from the Hong Kong Insurance Authority.
The shrinking of the agency forces of several listed insurance companies has eased, based on data shown for the first half of 2024.
Senior care products -- such as annuities with a healthcare component, long-term care insurance, and life insurance with a long-term care component -- are unaffordable for most people in both developed and developing countries, resulting in low market penetration, points out the global consulting company McKinsey.
German global insurer Allianz Group has received approval from regulators in China to move its entire stake in a property insurance joint venture with Chinese e-commerce giant JD.Com to its local unit, a move intended to streamline its operations in China.
Nasdaq-listed Zhibao Technology, engaged primarily in providing digital insurance brokerage services through its operating entities in China, has won a tender to provide high-end medical third party administration (TPA) services to the People's Insurance Company of China (PICC Group), one of the largest insurance groups in the country.
Shin Kong Financial Holding (SKFH), Taiwan's fifth-largest financial conglomerate, has reported a net profit of NT$20.5bn ($640m) in the first half of the year.