A high proportion of 85% of companies in Asia currently provides some form of insurance benefit to their employees, according to the results of a survey which are published in a new report titled "Asia Employee Benefits Report".
The Indian government is open to a minority stake sale in General Insurance Corporation of India (GIC Re) and Life Insurance Corporation of India (LIC) in the current financial year which started on 1 April 2024, after assessing investor appetite, reported Reuters.
The Reserve Bank of New Zealand (RBNZ) has approved a proposal to transfer the operations and insurance portfolio of Accuro Health Insurance Society (Accuro) to Union Medical Benefits Society (UniMed), according to a statement posted on the website of UniMed.
Malaysian Re has announced that it had entered a memorandum of understanding (MoU) with China Pacific Property Insurance Company (CPIC) and Kunpeng Insurance Broker Company, aimed at the development of health and medical insurance products in Malaysia, with a particular focus on cancer precision medicine treatment.
GCC insurers' top-line growth is expected to range between 5% and 15% in 2024, with Saudi insurers likely to expand at the fastest pace, says S&P Global Ratings (S&P).
AM Best expects the recent extreme weather that caused severe flash flooding in the United Arab Emirates (UAE) to prompt swathes of claims for motor, property, and business interruption insurers in the region.
The Securities and Exchange Commission of Pakistan (SECP) has licensed Salaam Family Takaful Limited as the first-ever digital family takaful operator in the country.
The Insurance Regulatory and Development Authority of India (IRDAI) has removed the age cap on buying health insurance policies, effective from 1 April 2024. Earlier, individuals were restricted to purchasing new insurance policies only until the age of 65.
The IRDAI has removed the age ceiling on those who can buy health insurance policies, with the move taking effect from 1 April 2024.
Life insurance companies are moving farther into areas of health insurance business which are traditionally the domain of non-life insurance companies.