Insurance companies and banks are looking for more guidance from the industry regulator on bancassurance operations following the issuance of new regulations.
Composite insurance rates in the Pacific region, comprising mainly the Australian market, declined by 5% in the second quarter of 2024, after falling by 2% in 1Q2024, according to the "Global Insurance Market Index" published by the world's biggest insurance broking group Marsh.
Composite insurance rates in Asia declined 3% in the second quarter of 2024, following a dip of 2% in 1Q2024, according to the "Global Insurance Market Index" published by the world's biggest insurance broking group Marsh.
The property insurance industry in the Asia-Pacific (APAC) region is projected to grow at a compound annual growth rate (CAGR) of 10.8% from an estimated $93.1bn in 2023 to $152.2bn in 2028, in terms of written premiums, according to data and analytics company GlobalData.
Property insurance premiums across New Zealand have increased by nearly 30% in just 18 months, with more insurers now pricing down to address level as their risk modelling becomes more sophisticated.
EFU General Insurance (EFUG), the largest non-life insurer in Pakistan, has a history of robust operating profitability, with a five-year (2019-2023) weighted average return on equity of 12.9%, supported by positive underwriting and investment results, says AM Best.
The property insurance market in the Asia-Pacific (APAC) region is projected to grow at a compound annual growth rate (CAGR) of 10.8%. The property insurance portfolio in APAC wrote around $93bn in written premiums and this is expected to touch $152bn in 2028 according to a new report by GlobalData.
The value of recently-launched rail projects that are to be insured exceeds DZD400bn ($3bn), indicated the president of the Algerian Union of Insurance and Reinsurance Companies (UAR), Mr Youcef Benmicia.
The mandatory divorce policy set out in the recently-enacted Unified Insurance Law will apply to those about to get married, according to lawmaker Ihab Ramzy, a member of the Legislative Committee of the House of Representatives.
Germany-based global composite insurer Allianz SE's proposed acquisition of Singapore's Income Insurance should not materially change the competitive landscape in Singapore's insurance market, says Fitch Ratings.