The government plans to draft an omnibus law for the financial industry, including insurance, as some of the existing rules are "ancient and inadequate", reported Bloomberg.
Rising cost pressures amidst a slower economy has led to a drop in sales of group life insurance, with employers either foregoing purchases of the cover or buying it only for senior staff and management.
The Australian government is considering the recommendations raised in a review of the National Disability Insurance Scheme (NDIS) and what will need to change in the legislation and the way the NDIS operates to reflect the review findings.
The Egyptian insurance market posted premiums of EGP31.8bn ($2bn) during the first 11 months of 2019, compared to EGP26.1bn in the corresponding period of 2018, representing a growth rate of 21.8%.
A study by the Zurich Insurance Group (Zurich) and the Smith School of Enterprise and the Environment at the University of Oxford on agile workforce has found that 38% of the respondents in Malaysia who are currently in full-time employment, are looking to enter the gig economy in the next 12 months. This percentage is significantly higher than the global average of 20% recorded in the study.
New Zealand life insurers are more profitable than their peers in many developed OECD countries, with return on equity higher than the median and a low claim ratio, according to a paper by Jinny Leong and Adrian Allottm carried in the Reserve Bank of New Zealand Bulletin.
India's slowing economy will weigh on insurance premium growth over the next 2-3 years, although supportive measures put in place by the IRDAI will help counterbalance the deteriorating economic environment, says Moody's Investors Service.
China has issued a temporary reimbursement policy to ensure patients with pneumonia caused by the newly discovered coronavirus, called 2019-nCoV, will receive timely and thorough treatment, reported the Xinhua News Agency.
Dai-ichi Life Insurance has announced that it will launch low-cost and short-term life insurance products exclusively for online customers by September, reported Jiji Press. This digital insurance service will enable users to sign contracts, file claims and complete all other necessary procedures on the internet.
What drives a young millennial to become one of the top agency leaders in his company and amongst the very best in Asia's insurance industry?