A project to strengthen the financial resilience of flood-prone communities in Ghana has delivered two parametric insurance products -- an Excess Rainfall Cover and a Flood Footprint Product.
Less than 1% of insurance claims for damage caused by floods and landslides have been paid out to date, according to data from the Nepal Insurance Authority (NIA).
The Federal government has initiated a strategy to ensure that millions of uninsured Nigerians would have financial protection.
The Insurance Federation of Egypt (IFE) is working with the Financial Regulatory Authority (FRA) to launch an index-based insurance product, according to Mr Alaa El-Zoheiry, IFE chairman.
The net profits of insurance companies operating in Bahrain fell by 43.5% to BHD15.78m ($41.87m) in the first half of 2024, compared to BHD27.91m in the corresponding period of 2023, according to the "Insurance Market Review June 2024", released by the Central Bank of Bahrain earlier this month.
Howden, the global insurance intermediary group, has announced the acquisition of Hong Kong-based Storfield Insurance Consultants, a specialist in general insurance for small-to-medium sized enterprises (SMEs) and high-net-worth (HNW) clients.
Non-life premium growth is expected to remain robust over the near term and on par with prior years, when New Zealand's non-life gross written premiums recorded average annual growth in the mid- to high single digits, says AM Best.
The insurance market in Uganda reported gross written premiums of UGX933.8bn ($255m) in the first half of 2024, according to a report released by the Insurance Regulatory Authority (IRA).
Sydney-headquartered QBE Insurance Group (QBE), one of the world's top 20 general insurance and reinsurance companies, improved its underwriting performance significantly in the past three years, said Fitch Ratings.
Flood prevention measures such as dykes, dams and flood gates come at a price, but their financial benefits can exceed costs for rebuilding after a disaster by up to 10 times, according to a report by Swiss Re Institute, titled "Resilience or rebuild? The costs and benefits of climate adaptation measures for flood".