There is a critical need for the Ethiopian government to attach importance to the insurance industry, on a par with the attention given to banks and other financial institutions, senior executives of insurance companies have said. This is because the insurance market plays a vital role in supporting national projects and pushing economic growth.
The Saudi insurance market saw mixed financial results in the motor and medical lines in 2024, according to an analysis by Badri Management Consulting, an international actuarial and risk consultancy firm. These two branches are the main pillars of the Saudi insurance sector, contributing a combined 84% of total insurance revenue in 2024.
Insurers must be aware of financial market trends, particularly, recently, when the need to understand and act on these trends has grown more urgent and expanded to more facets of the insurance business, said Swiss Re head of life and health reinsurance APAC excluding China, Ms Daisy Ning.
The Nepalese government has set a target to increase the renewal of health insurance policies to 90% in the next five years to 2030.
Manulife Hong Kong and JUST FEEL, a Hong Kong-based NGO dedicated to emotional education, has announced a multi-year strategic charity partnership.
A promising area in insurance is digital health underwriting, where insurers use electronic health records - increasingly adopted across APAC - to conduct underwriting assessments more efficiently, according to Swiss Re head of life and health reinsurance APAC excluding China, Ms Daisy Ning.
Cambodia's insurance industry recorded gross premiums of $357m in 2024, up from $36.1m in 2012, an annual average growth rate of 25%, according to the Khmer Times.
The 25 listed direct insurers in Saudi Arabia reported a combined profit after zakat of SAR3.2bn for 2024, 2% lower than the SAR3.3bn chalked up for 2023. The profits fell despite the combined investment income jumping 21%, from SAR2.6bn in 2023 to SAR3.1bn in 2024, according to an analysis by Badri Management Consulting, an international actuarial and risk consultancy firm.
MSIG Malaysia has launched the country's first personal accident add on that addresses a critical gap in financial protection for individuals who might experience a sudden loss of independence due to accidents or unforeseen events.
The SAFCO Microfinance Company and Asia Insurance Company have signed a service level agreement to launch a bundled livestock protection and social benefit programme in the country.