The Securities and Exchange Commission of Pakistan (SECP) has issued a report that explores inclusive insurance in Pakistan, highlighting its untapped market potential.
The 3 April magnitude-7.2 Hualien earthquake has led to at least 472 insurance claims and resulted in losses amounting to at least NT$762m ($23.5m) as of 8 April, according to the Taiwan Residential Earthquake Insurance Fund (TREIF).
The UAE insurance sector posted higher premiums in the medical and property & liability insurance branches in 2023. But the industry needs to work on other areas too, says Mr Avinash Babur, CEO of InsuranceMarket.ae, an insurance brokerage which operates an online insurance platform.
The Canters for Disease Control and Prevention (CDC) in the US estimates that around 48m Americans fall ill every year from a foodborne illness, with 128,000 hospitalisations and 3,000 deaths. The CDC ranks Norovirus as the main culprit when it comes to illness, closely followed by Salmonella, Clostridium perfringens and Campylobacter according to a new Hiscox global insight blog.
Japan's life insurers are likely to buy more domestic sovereign bonds this year after the end of negative interest rates in the country, reported Bloomberg.
Indonesia's only mutual insurer Bumiputera 1912 Joint Life Insurance (AJB) claims that it is still continuing to pay amounts owed to policyholders. The cumulative amount paid under the Reduced Benefit Value (PNM) scheme has reached IDR192bn ($11.9m).
Paris-headquartered Societe Generale (SG), the French financial services giant, has announced that it had reached an agreement to sell its Moroccan subsidiary to financial group Saham, for EUR745m ($793m).
The operating performance of Suez Canal Insurance (SCI) is assessed as adequate, according to AM Best. The insurer has reported a five-year (2019 - 2023) weighted average return-on-equity ratio of 15.8%.
The Financial Planning Standards Board (FPSB) India is planning to increase the representation of women in the financial planning field to achieve a 35:65 ratio of women-to-men certified financial planners (CFPs) by 2030.
The IRDAI has amended the terms of coverage for people with pre-existing health conditions by reducing the maximum waiting period set out in health insurance policies to 36 months from 48 months previously. The change took effect from 1 April 2024 for new and renewed health insurance policies.