Demand for life insurance in Ethiopia has shown a steady uptick due to rapid urbanisation and improvement in the livelihoods of people, Ethiopian Reinsurance has said.
The overall GWP in the Bahraini insurance sector is estimated to have fallen in 2020 due to lower economic activity, a decline in tourism from Saudi Arabia and other countries in the region, and a decrease in the sales of new cars, says S&P Global Ratings.
Research shows that health insurance policies available today in China often have features which undermine the credibility of the market, such as annual re-underwriting and non-guaranteed renewables, says Ms Thalia Georgiou, managing partner at the specialist healthcare advisory firm Asia Care Group (ACG).
The government has proposed to increase significantly the authorised capital of the country's biggest life insurer, Life Insurance Corporation of India (LIC), to INR250bn ($3.4bn) to facilitate its public listing scheduled for the next fiscal year beginning 1 April.
The Australian life insurance industry's performance continues to be challenged, says the Australian Prudential Regulation Authority (APRA) as it released its "Quarterly Life Insurance Performance Statistics" publication for the December 2020 quarter.
Weaker economic conditions and an estimated decline in the expat population of about 12% (close to 230,000 people) led to a decline in GWP in the Omani insurance market by 4%-5% in 2020, says S&P Global Ratings.
The Egyptian insurance sector has posted a 25% jump in net surplus to EGP6bn ($382m)-comprising underwriting gains and investment returns-for the 12 months to 31 December 2020, compared to EGP4.8bn in 2019.
Dragon King Life has reported its first annual profit in 2020, following 11 years of losses.
The Chinese government's extensive fiscal and monetary programme to stimulate the economy is accelerating the return to higher economic growth rates, says Mapfre Economics.
Ant Group's online mutual aid platform Xiang Hu Bao attracted 105.59m members last year and extended financial help to 68,600 subscribers, according to data released by the platform.