Cambodia's insurance industry recorded a premium of $87.3m in the third quarter of 2023, up 2.6% from $85m in the corresponding quarter last year, according to a report by the Insurance Regulator of Cambodia (IRC).
One of the risks faced by the insurance industry is the inability to provide insurance services to the entire population, leaving large segments of them outside of insurance coverage, the newly appointed president of the Insurance and Social Security Supervisory Authority (ACAPS), Mr Abderrahim Chaffai, has said.
Nan Shan General Insurance has launched what is dubbed Taiwan's first micro property insurance plan, targeted at vulnerable groups. The plan offers micro fire insurance coverage.
The lack of historical data that would form the basis to price microinsurance products is a hurdle which insurers can overcome by adopting prototype products at an initial price, according to Mr Makeen Lotfy Abdullah, chairman of the Microinsurance and Small and Medium Enterprises Insurance Committee of the Insurance Federation of Egypt (IFE).
Onsurity, an Indian startup that offers monthly subscription-based insurance solutions to micro, small and medium enterprises, has raised $24m in a funding round led by the World Bank's International Finance Corporation (IFC).
The Insurance Federation of Egypt (IFE) has launched two new types of insurance policies -- for irrigated crops and informal workers.
The insurance industry in the Philippines raked in a net income of PHP22.4bn ($393.5m) in the second quarter of 2023, 4.23% higher than in the corresponding period in 2022, according to data released by the Insurance Commission (IC).
The Insurance Federation of Egypt (IFE) has developed a strategy to help low-income groups access insurance services by introducing new products that meet their needs, according to its chairman, Mr Alaa El-Zoheiry.
The Bima "Trinity", comprising Bima Sugam, Bima Vahak and Bima Bima Vistaar, will be a reality soon, IRDAI chairman Debasish Panda has said.
Takaful players are lobbying for the adoption of takaful as a platform for financial inclusion and for collaboration on regulations to foster the growth of Islamic insurance in Africa.