Insurance companies in Morocco generated a net profit of MAD4.2bn ($428m) in 2023, 6.2% higher than in 2022, states the central bank, Bank Al-Maghrib (BAM), in its annual financial stability report released recently.
Abu Dhabi National Insurance Company (ADNIC),a leading regional multi-line insurance providers for both corporates and individuals, increased its insurance revenue by 54% in the first half of this year to an all-time high of AED3.3bn ($898m), compared to AED2.1bn for the same period in 2023.
Two-thirds (67%) of respondents in a poll in Turkiye said that they were concerned about loss of income for the short or medium term, according to the findings of BNP Paribas Cardif's "Protect & Project Oneself" survey.
The impact of the decline in China's real estate market varies for insurers; yet with diversified portfolios, the overall impact is anticipated to be manageable compared to other investment instruments, according to Professor Ricardo Reis, of the London School of Economics.
The National Financial Regulatory Administration (NFRA) has scheduled a series of cuts on interest rates on insurance products. The new requirements are set out in the NFRA's "Notice on Improving the Pricing Mechanism for Life Insurance Products" issued on 2 August.
The insurance industry in Cambodia is expected to see good growth in future years, according to the director-general of the Insurance Regulator of Cambodia (IRC), Mr Bou Chanphirou.
Asia was the driver of the financial results of Toronto-headquartered Manulife Financial Corporation in the first half of this year, with a 289% jump in net income attributable to shareholders to $424m in the second quarter.
Finance Minister Nirmala Sitharaman has told lawmakers that they need to propose to their state governments remove the 18% GST levied currently levied on life and health insurance premiums.
Micro, small and medium enterprises (MSMEs) have called for measures to build confidence in the insurance sector to improve the low penetration rate in the sector.
The Saudi insurance industry's profitability (after zakat & tax) rose by 26% to SAR2.2bn ($586m) in 1H2024 from SAR1.7bn in the corresponding half in 2023.