Statistics from the Monetary Authority of Macau (AMCM) show that the gross premium of the life insurance business in Macau jumped to MOP33bn ($4.08bn) in 2021, representing an increase of 29% compared to the MOP25.6 billion in 2019.
The Securities & Exchange Commission of Pakistan (SECP) should take notice of the rampant practice among insurers of rejecting claims, according to Mr Abdul Basit Khan, Advisor to Federal Insurance Ombudsman (FIO).
The Financial Services Authority (OJK) has approved the establishment of a member representative body (BPA) for AJB Bumiputera 1912, one of Indonesia's oldest insurers, which has been struggling with insolvency for a number of years.
The aggregate profit of insurance companies listed on UAE stock exchanges fell by 12.9% to AED590.87m ($160.86m) for the first quarter of this year, compared to AED678.07m for the corresponding quarter in 2021.
A survey by AIA Singapore has revealed that two-thirds (66%) of Singapore's local workforce are worried about job loss due to illness or disabilities and more than half (53%) do not have any disability income protection.
Australian specialist healthcare underwriting agency Tego Insurance will now also offer a combined liability package for the aged care sector.
Despite the fifth wave of Covid-19, some of the city's biggest insurers have enjoyed surging sales thanks to their digital offerings and a heightened public awareness of the need for medical cover.
Life insurance companies in India have received at least 218,000 COVID claims amounting to INR169.22bn ($2.18bn), according to data released by the Life Insurance Council, an umbrella body of life insurers.
Two-thirds (66%) of Singapore's local workforce are worried about job loss due to illness or disability, while more than half (53%) do not have any disability income (DI) protection, according to findings of the AIA Disability Income Survey 2022 which were released yesterday.
The top four insurance companies in Saudi Arabia, based on 2021 premium income, have reported weaker net results for the first quarter of this year, as a result of higher claims.