The new minimum capital requirement of SAR300m ($80m) for insurance companies in Saudi Arabia by the end of 2024 puts at least five insurers on the radar, according to Insurance Monitor, a research and consulting firm.
The Financial Regulatory Authority (FRA) will establish an insurance pool for divorce risks after the long-awaited unified insurance law takes effect.
The insurance industry saw its net income soar by 45% to more than PHP14.29bn ($246m) in the first quarter of this year, compared to PHP9.86bn in the corresponding quarter in 2023, according to data from the Insurance Commission (IC).
The insurance industry in Qatar is urged to address the changes that have taken place in the sector since the 2022 World Cup.
The growth champion of global life insurance business over the next decade is likely to be India, with a growth rate of +13.6% p.a, says Allianz in its "Global Insurance Report 2024".
Higher investment income averaging at a quarterly rate of return on investments (ROI) of 1.7% (1Q2023: 1.3%) has boosted the first-quarter earnings of 77 listed insurers in the GCC region, according to Insurance Monitor, a research and consulting firm.
China's five major 'A'-share listed insurance groups posted a cumulative insurance premium income of CNY1.25tn ($176bn) in the first four months of 2024, 1.47% higher than in the corresponding period in 2023.
Insurance companies in South Korea saw their combined net profit shrink more than 11% from a year earlier in the first three months of the year, according to data from the Financial Supervisory Service.
Australians in their mid-to-late-20s have pulled back on spending more than any other age group, according to the latest CommBank "iQ Cost of Living Insights Report".
Online insurer, Go Digit General Insurance, saw a promising debut on the stock exchanges yesterday, with its shares opening at the price of INR286 ($3.43) on the National Stock Exchange (NSE), marking a 5.15% increase from the issue price of INR272, notes IIFL Securities, a stockbroking company which is part of the IIFL Finance Group.