The Saudi Central Bank intends to require listed financial institutions under its supervision to provide insurance coverage for board members against professional errors and failures.
Marsh Specialty has appointed Mr Andrew George as president. He will also join the Marsh Executive Committee.
Saudi Reinsurance Company (Saudi Re) and Saudi Housing Guarantee Services Company (Damanat) have signed a Memorandum of Understanding (MoU) that establishes a collaboration framework between the two parties with the objective of developing insurance and reinsurance solutions for the mortgage financing sector.
Composite insurance rates in Asia dropped by 3% in 4Q2024, as compared to 4% in 3Q2024, according to Marsh's "Asia Insurance Market Rates: 2024 Fourth Quarter", published in February 2025. Of the countries surveyed, Korea's rates fell the most by 9%, while Taiwan's rates increased by 11%.
MSIG Asia has appointed Mr Alexander Liu as vice president. He also serves as cyber underwriter. In his new role, he will lead MSIG's efforts in advancing cyber and financial lines offerings and supporting sustainable growth across the region.
Dubai Insurance Company (DIN), one of the UAE's biggest insurers, has a strong record of underwriting profitability and reported a net insurance service result of AED123m ($33.5m) in 2023 (2022: AED76m) and a combined ratio of 86% (2022: 80%) under IFRS17, says Fitch Ratings.
Jeddah-headquartered Islamic Corporation for the Insurance of Investment and Export Credit (ICIEC), a Shariah-compliant multilateral insurer and a member of the Islamic Development Bank (IsDB) Group, has entered into several agreements at the AMAN Union's 14th Annual General Meeting in Algiers held on 1-3 December.
Zking Property & Casualty Insurance Co (ZKI) continued to reduce riskier guarantee insurance business that is susceptible to domestic economic conditions, says Fitch Ratings.
Bundling agricultural credit with agricultural insurance has emerged as a promising strategy to mitigate climate-related lending risks related to smallholders, according to researchers.
The underwriting performance of Seoul Guarantee Insurance Company (SGI) is expected to normalise from 2025 with a gradual interest-rate cut, says Fitch Ratings.