Pricing of insurance is continuing to moderate as rates decline, according to Marsh's May 2024 report, Asia Insurance Market Pricing: 2024 First Quarter. In Asia, rates in 1Q declined 2% after remaining flat for three prior quarters.
The high domestic interest rate environment in the Philippines will keep insurers' investment yields strong as companies reinvest their assets into higher yielding fixed-income instruments upon maturity, according to AM Best.
The Australian Consumers Insurance Lobby (ACIL) is calling for significant reforms to the General Insurance Code of Conduct.
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.