Middle East new business sales grow by 16% to GBP2.1bn ($2.8bn) as the region becomes an increasingly attractive destination for wealth and financial services, according to the "2024 Wealth Management Market Study" for Utmost Group.
A new market study by Utmost group has revealed that there was a 6% growth in HNW international life insurance new business sales in 2024 in Asia.
InsurTech Plum, plans to invest INR200cr ($25m) for expansion of its healthcare vertical to deliver accessible, preventive, and personalised healthcare at scale.
Price competition remained intense in the Saudi Arabian medical and motor insurance markets throughout 2024, says Fitch Ratings. However, the global credit rating agency expects The Company for Cooperative Insurance's (Tawuniya) underwriting discipline and scale benefits to help maintain the insurer's very strong financial performance over the medium term.
Prudential Indonesia has launched PRUSmart Plan, its latest protection innovation which provides certainty of benefits with a minimum monthly premium of IDR2 million in the form of annual cash benefits of up to 25% of the annual premium along with its increase, and the end of accountability benefits at the end of accountability date in the 20th policy year to 920% of the annual premium in accordance with the chosen premium payment period.
Prudential Vietnam has appointed Mr Kevin Joong Kwon as CEO, following approval from the nation's Ministry of Finance, according to news platform Vietnam Economic Times.
Bharti AXA Life Insurance has launched the Bharti AXA Life Guaranteed Bachat Plan, a new savings and protection product designed for middle-income Indians.
With nearly 29% of Japan's population aged 65 or older, the need for robust retirement planning and financial products is more critical than ever according to a new comprehensive study on retirement readiness in Japan conducted by global life reinsurer RGA and actuarial organisation SOA Research Institute.
In India the Goods and Services Tax (GST) Council is likely to consider reducing or removing the 18% GST on life and health insurance premiums.
The Central Bank of the UAE (CBUAE) has revoked the licence of Al Khazna Insurance Company (AKIC).