There has been a noticeable decrease in new and second-hand vehicle prices in the Turkish automotive market recently.
The combined ratio of auto insurance business in China reached 98.8% in the first 10 months of this year, according to the latest official statistics. This represents an increase of 1.6 percentage points from the 2022 full-year combined ratio.
The Ministry of Investment, Trade and Industry (MITI) has introduced an initiative in the development of Malaysian Standard-Motor Vehicle Aftermarket Smash Repair Requirements (JSM MS).
Auto insurance premium rates in the Egyptian market have jumped by up to 30% since the beginning of 2023.
The insurance sector in Nigeria looks likely to miss its target of achieving NGN148.30bn ($188m) from third-party motor insurance by 31 December, as against NGN56.76bn recorded in 2022.
The Insurance and Private Pension Regulation and Supervision Agency (SEDDK) has published a circular regarding the premium/equity coefficient in compulsory motor third-party liability (CMTPL) insurance.
AM Best is maintaining a stable outlook on China's non-life insurance segment given the growth momentum in the motor and non-motor segments, as well as the domestic economic recovery following the removal of COVID-19-related restrictions, partially offset by a weaker 2024 economic outlook.
InsurTech company Shory.com has joined hands with the Abu Dhabi Government services platform TAMM, representing the Department of Government Enablement - Abu Dhabi (DGE) to provide citizens and residents of the emirate with a seamless and hassle-free solution for their car insurance needs.
The development of new-energy vehicles has introduced new risk management needs to the automotive industry, with improvements needed along the entire industry chain, including raw materials, supply chain and production processes, according to Mr Andreas Glunz, the legal representative of BMW (China) Insurance Brokers.
Motor insurers in Turkiye announced a combined loss of TRY10.6bn ($367m) in automobile third-party liability insurance ( called traffic insurance) for the first nine months of this year, a jump of 34% year on year, according to data from the Insurance Association of Turkiye (TSB).