The Australian Reinsurance Pool Corporation (ARPC) has recorded a major milestone in its cyclone reinsurance pool operations, with total claim payments surpassing A$1bn ($703.4m) since the initiative was launched.
The Australian Prudential Regulation Authority (APRA) has applied an additional A$2m ($1.4m) capital requirement to Sovereign Insurance Australia (SIA), an MGA.
State-owned Iran Insurance Company, Iran's largest insurer, has paid a record IRR150tn ($114m) in compensation to individuals affected by the Iran-Israel-US war since the hostilities broke out on 28 February.
In New Zealand, HDI Global has promoted Mr Richard Upton to the role of Branch Manager and Head of Financial Lines.
Australian life insurers have welcomed the passage of a new law that bans genetic discrimination and gives people confidence on genetic testing.
The Thai insurance regulator, Office of the Insurance Commission (OIC), aims to build a private health insurance system that can perform the role of a health partner, and accelerate the expansion of the insured base and control system costs in the country.
Insurers in South Korea are expanding their range of children's insurance products as they look to rope in customers for the long-term.
The Australian insurance industry is pulling out all the stops to ensure that the industry is ready to respond swiftly for customers as the impact of Middle East conflict continues to evolve across all lines of insurance business.
Chubb and a group of other insurers have announced that they would be providing an additional capacity of $20bn for the US International Development Finance Corporation's Maritime Reinsurance facility, bringing the facility's total insurance support to $40bn.
The South Korean insurance industry will fund the review committee that will consider the appropriateness of allowing vehicle accident victims with minor injuries to claim the costs of medical treatment that lasts for eight weeks or longer.