Dr Mohamed Farid Saleh, chairman of the Financial Regulatory Authority (FRA) has issued a decision (No. 194 of 2022) regarding rules and procedures for revising the licensing of takaful companies to allow them to operate in the traditional commercial insurance system in the Egyptian market. The decision was published in the Official Gazette on 29 January 2023.
The Ministry of Human Resources and Social Development, with the Saudi Central Bank (SAMA) and Najm Insurance Services Company, has begun to link insurance policies to domestic worker contracts in a non-compulsory experimental manner.
Prudential Cambodia has announced a strategic partnership with Sing-Specialists Medical Centre (SSMC) to provide customers with a variety of value-added services and benefits.
In India, one in five health insurance policyholders is unaware of basic policy terms despite purchasing the policy on their own according to a new insurance literacy survey by ICICI Lombard Insurance.
Finance Minister Nirmala Sitharaman, in her annual Union Budget speech yesterday, proposed to provide that where the aggregate of premiums for life insurance policies (other than unit-linked insurance policies [ULIPs]) issued on or after 1 April 2023 is above INR500,000 ($6,115), income from only those policies with an aggregate premium up to INR500,000 shall be exempt from income tax.
Specialty MGA, Optio Group, says that its recently established Dubai-based operation, Optio Re MENA, has begun trading after receiving all necessary approvals from UAE regulatory authorities.
Extreme weather events induce psychological trauma which can have long-term impact on survivors' cognitive functioning according to a new study.
Healthcare reported the most cyber breaches of all sectors in 2022, overtaking finance to account for 22% of incidents, up from 16% in 2021 according to a data breach outlook report by Kroll.
A new survey conducted by Oliver Wyman in China has found that 62% of non-health insurance policyholders in the country planned to purchase health insurance, and 44% of existing policyholders were considering increasing their coverage.
Insurance adoption and penetration in India increased largely due to government schemes and financial inclusion initiatives, according to the "Economic Survey 2022-23" tabled in the Parliament yesterday.