Price hikes are expected for some insurance products in the UAE on the back of high demand in the second half of 2024, according to Mr Gautam Datta, CEO of the UAE-based Islamic insurance group, Watania International Holding.
Prudential has expanded its alliance with Google Cloud to develop artificial intelligence (AI)-powered products and solutions.
More concerted efforts may be needed to boost the financial preparedness of youth in Singapore, according to the latest ASEAN Consumer Sentiment Study (ACSS) 2024 by Singapore-headquartered UOB, a leading Asian bank.
The Financial Services Authority (OJK) has organised a meeting between executives of financially-stricken Asuransi Jiwasraya and with several representatives of Jiwasraya policyholders who oppose a restructuring scheme for the financially-stricken life insurer and the transfer of policies from Jiwasraya to Asuransi Jiwa IFG (IFG Life).
The share of life insurance policies sold in rural areas by top private insurers fell in the financial year ended on 31 March 2024 (FY24), compared to previous financial year.
Healthcare benefits paid out by health maintenance organisations (HMOs) to its members amounted to PHP30.33bn ($536m) in the first half of 2024, which is a 15.65% increase from healthcare benefits paid out during the corresponding period last year, says the Insurance Commission (IC).
Health insurance claims are on the rise in Indonesia, jumping by 29.6% to IDR5.96tn ($386m) in the first quarter of this year, according to the Indonesian Life Insurance Association (AAJI).
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.