Creditors of Syn Mun Kong Insurance Public Company (SMK), which was rendered insolvent by the weight of COVID-19 pandemic claims, will vote on a business rehabilitation plan for the insurer on 27 September 2023.
The National Health Insurance (NHI) scheme planned by the government will not be sustainable without the collaboration of the private sector, the country's biggest medical aid scheme and wellness and financial services group, Discovery, has said.
The Insurance Federation of Egypt (IFE) has developed a strategy to help low-income groups access insurance services by introducing new products that meet their needs, according to its chairman, Mr Alaa El-Zoheiry.
Kuwait's Insurance Regulatory Unit (IRU) has decided on rules for regulating the activity of central insurance repositories.
AIA NZ has welcomed Snap Fitness as a new gym partner and provider of AIA Vitality Fitness Assessments.
Insurance regulator IRDAI has asked the Committee on Common Empanelment Process of Hospitals to submit a report on implementing fully cashless medical insurance settlement in hospitals across the country.
Government subsidies for medical insurance for urban and rural residents have been increasing, said China's National Healthcare Security Administration (NHSA).
The Insurance Federation of Egypt (IFE) and the General Authority for Health Insurance (GAHI) have signed a cooperation protocol to improve the comprehensive health insurance system in Egypt.
China's removal of COVID-19 pandemic-containment measures has supported new business generation at life insurers in 2023, with PICC Life Insurance Company reporting strong growth in new business value (NBV) in 1H2023. NBV increased by 67% yoy to CNY2.5bn ($342m) in 1H2023, while the value of in-force business after cost of capital rose by about 3.9% to CNY34.8bn.
The National Administration of Financial Regulation (NAFR) has approved the takeover of Evergrande Life Insurance, a unit of debt-ridden real estate giant China Evergrande Group, by a new state-owned insurer specifically set up for the purpose.