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.
IAG, the biggest non-life insurer in Australia and New Zealand, has announced its results for the financial year ended 30 June 2024, reporting a net profit after tax (NPAT) of A$898m ($605.3m), an increase of 7.9% on FY23.
Jubilee General Insurance Company has a history of strong earnings, with a five-year (2019-2023) weighted average return on equity of 17.6%, notes AM Best.
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.
Brisbane-headquartered Suncorp Group yesterday reported an increase in earnings driven by improved underlying margins, positive investment returns and natural hazard costs below allowances.
Taiwan's basic residential earthquake insurance scheme had a coverage of 38.6% as of 31 July 2024, based on 9.32m households islandwide, indicating that more than 60% of homeowners are still uninsured.
Officials are discussing a proposal to increase the foreign direct investment (FDI) limit for insurance to 100%, from the current 74%, a move which has the backing of the Insurance Regulatory and Development Authority (IRDAI).
The Thai General Insurance Association (TGIA) will soon publish a manual containing ESG guidelines to promote sustainable business practices among general insurers.