The shareholders of Al Rajhi Company for Cooperative Insurance (Al Rajhi Takaful), one of the five biggest insurers in Saudi Arabia in terms of premiums, have agreed to increase the company's capital by 150% to SAR1bn ($266.6m) from SAR400m.
Cities in the Asia and Pacific region are vulnerable to climate change due to their geography and particular exposure to natural catastrophes and increasingly extreme weather events, says The Resilient Cities Index 2023 report, released by Tokio Marine Group and the research and business intelligence house, Economist Impact.
ABC Life Insurance has followed on the heels of Taikang Life Insurance and China Pacific Life to issue perpetual bonds to strengthen its capital position.
The Insurance and Private Pension Regulation and Supervision Agency (SEDDK) has increased the minimum capital requirements to establish insurance and reinsurance companies.
Cyber criminals, especially the organised gangs indulging in these activities, are revising the ways they blackmail their victims as the ransomware payments are tapering down according to a new report.
High inflation and interest rates, attracting and retaining talent and digital transformation will have the greatest impact on the European insurers' ability to secure future revenue growth in 2024 according to a survey conducted by WTW.
The accelerating climate change can increase the likelihood of widespread disruptions to the financial sector, including the insurance sector according to a new report released by the Bank for International Settlements (BIS).
The current emissions pledges to limit climate change would still put the world on track to warm by nearly 30 degree Celsius during this century according to a new report by the United Nations Environment Programme (UNEP).
Australia has released its 2023-2030 Australian Cyber Security Strategy, which outlines its vision of a cyber secure Australia. The strategy also details how the country will get there.
The impact of crime in South Africa is estimated to be at least 10% of GDP per year, comprising transfer, protection, and opportunity costs, says the World Bank.