The insurance industry has hailed Egypt's President Abdel Fattah El-Sisi's ending of the state of emergency in the country as a move which will boost the economy and benefit many sectors, including insurance.
Around 30% of consumers in Singapore are very open to private mental health insurance while 54% are somewhat open, bringing the total proportion with an open attitude to 84%, according to a study on mental health conducted by Swiss Re Institute.
New York-listed Waterdrop, a technology platform dedicated to insurance and healthcare service, has established a presence in the government-backed huiminbao ('Benefit the people' health insurance) market.
Alliance Insurance's strategic focus on underwriting profitability will support continued strong technical performance over the coming years, despite competitive market conditions prevailing in the UAE, says AM Best.
Insurance giant China Life's profitability remains sturdy amid a slowing economic recovery and unstable insurance demand in the aftermath of the COVID-19 pandemic, says Fitch Ratings.
Burkina Faso, one of the 14 member countries of the Inter-African Conference on Insurance Markets (CIMA), has decided to cap the commissions paid by life insurers to banks at 5% instead of 15%. This decision also prohibits paying commissions to bank account managers or staff.
The Mediterranean and Gulf Insurance and Reinsurance Company (MedGulf) plans to increase its capital by 50% to boost its solvency and leverage business expansion opportunities.
China has tightened rules for online insurance sales, seeking to root out irregularities in a burgeoning business that has bolstered platforms like Waterdrop and Huize Holding, reported Bloomberg.
At least two insurance companies have agreed to insure the unborn child for birth defects and surgical problems during infancy, announced the president of the Indian Academy of Pediatric Surgeons (IAPS) Dr Ravindra Ramadwar.
The Australian Prudential Regulatory Authority (APRA) expects to release updated capital and reporting standards in late 2021 for further consultation, with final standards due to come into effect in 2023.