Algerian insurance brokers are struggling to compete with their international counterparts, and their strength needs to be increased, according to insurance expert Mr Djamel Abbaci.
Allianz Global Corporate and Specialty has appointed Mr Thomas Lillelund as CEO, effective early 2025 and subject to regulatory approval. He will also assume leadership of Allianz Commercial, the Group's integrated global model for serving the commercial property and casualty insurance segment.
The insurance market in Morocco posted a record first-half turnover of MAD32.4bn ($3.3bn), growing by 4.4% over the first six months of 2023, according to data from the Insurance and Social Welfare Supervisory Authority (ACAPS).
AXA XL has appointed Mr Chris Caponigro as head of reinsurance capital management. In his new role, he will further expand the product offering and investor base by continuing to develop the team's infrastructure and strategy.
The AqabaConf2025, to be held jointly by the Jordan Insurance Federation (JIF) and the General Arab Insurance Federation (GAIF) is scheduled to take place between 11-14 May 2025.
The revenue of the Algerian insurance sector increased to DZD89.8bn ($680m) in the first half of 2024, 7% higher compared to the first half of 2023, according to data released by the Algerian Union of Insurance and Reinsurance Companies (UAR).
The bulk of losses resulting from Typhoon Yagi claimed on Vietnam insurance companies is expected to be borne by domestic and international reinsurers, according to a new commentary by AM Best.
Value creation in the insurance industry in the Asia Pacific expanded at a slower pace than in the Americas and EMEA in the last five years, according to a report by the Boston Consulting Group (BCG).
The State Council, which is China's cabinet, has issued the notice, "Several Opinions on Strengthening Supervision, Preventing Risks and Promoting High-quality Development of the Insurance Industry". The "Opinions" set out measures to be taken for the reform and development of China's insurance industry in the next five to 10 years.
A stocktake of the Chinese insurance industry shows that there were over 200 (re)insurance companies operating in the country as of 30 June 2024