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.
AIA Singapore has announced an initiative to help customers better understand their insurance policies and improve their financial literacy in a continued bid to bridge the nation's protection gap. Through this initiative, the organisation aims to encourage more Singaporeans to attain adequate protection.
Zurich Insurance Singapore has appointed Mr Nixon Ooi as head of accident and health. In his new role, he will be responsible for leading the underwriting, portfolio management and proposition development for accident and health.
AIA Singapore yesterday announced an initiative to help customers better understand their insurance policies, improve their financial literacy in a continued bid to bridge the nation's protection gap.
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).
In 2024, the overall Financial Confidence Index (FCI) remains stable, with slight improvements noted in Financial Resilience (FR) and Financial Wellbeing (FW) compared to 2023, says Sanlam, which is South Africa's largest insurer.