Gallagher has launched alternative risk management solutions in the Abu Dhabi Global Market (ADGM) through its wholly-owned subsidiary, Artex.
WTW has expanded its corporate risk and broking business in Japan with the launch of an insurance brokerage service. The new brokerage operation will be headed by Mr Tetsuro Nakazawa, head of WTW Broker Japan.
The IRDAI has drafted guidelines for a comprehensive insurance fraud monitoring framework for the insurance sector to identify, assess, and mitigate fraud risks effectively across the insurance industry.
The Financial Supervisory Commission (FSC) has announced that as of 15 October 2024, two life insurance companies have applied to adopt the new foreign exchange rate volatility reserve system.
Financial constraints are a significant barrier to preparedness for 38% of Malaysians, with 54% feeling unprepared for climate events such as floods, heatwaves, and landslides, according to the findings of Zurich Malaysia's Climate Resilience Survey.
The IRDAI has issued an advisory to all insurers to check their IT systems for vulnerabilities and take necessary steps to protect the policyholders' data.
Chinese P&C insurers are increasing government bond allocations and reducing capital requirements for credit risks, says Mr Frank Yuen, VP senior credit officer at Moody's Ratings.
The recent floods in the GCC region were an eye-opener for all stakeholders to act to deal with weather-related perils and their impact on the societies and economies of the region, said speakers at the 19th Gulf Insurance Forum in Dubai earlier this week.
Hong Kong's Insurance Authority (IA) will carry out a review next year to strengthen Hong Kong's position as a global risk management centre, revealed Mr John Lee, the territory's Chief Executive.
Fitch Ratings has assigned UAE-based Union Insurance Company a first-time Insurer Financial Strength (IFS) Rating of 'BBB' with a 'Positive' outlook.