The minimum capital for a national microinsurance licence shall be NGN3bn ($2.2m), five times the current capital, according to guidelines issued by the National Insurance Commission (NAICOM).
Thailand is moving forward with plans to implement regulations requiring international tourists to obtain accident insurance before entering the country. The proposal comes amid a growing number of unpaid medical bills, which are placing increasing strain on the public healthcare system.
Sun Life Vietnam is estimated to have retained over 70% of the voluntary retirement insurance market share in Vietnam in 2025, underpinned by a strong financial position and a long-term investment strategy in the local market.
The central bank, National Bank of Ethiopia (NBE), has released two directives, one on the licensing and supervision of microinsurance agents and the other on the licensing of insurance broker.
Willis has launched a new art insurance facility designed specifically for individual collectors and art galleries in Asia.
The insurance industry is set to introduce a free 'mutual growth' insurance product for local small business owners and vulnerable groups across six regional governments --Gyeongnam, Gyeongbuk, Gwangju, Jeonnam, Jeju and Chungbuk -- by the third quarter of this year.
The National Agricultural Mutual Fund (CNMA) has developed a new insurance scheme for agricultural activity, dedicated to covering major risks related to climate change, mainly drought, said CNMA Director General Cherif Benhabiles, specifying that this programme is designed to cover, in its first phase, the cereal sector.
Kuwait-headquartered Gulf Insurance Group is establishing Ahalina Microinsurance Company through its subsidiary GIG Egypt.
The Philippines needs to overhaul its insurance framework by mandating home coverage and incentivising disaster-resilient construction, the Organization for Economic Cooperation and Development (OECD) says.
Across ASEAN, disaster risk is increasingly being treated as a material fiscal risk, prompting finance ministries to move away from reliance on post-disaster budget reallocations and ad hoc assistance.