The management of Orient Insurance, the largest and most profitable listed insurer in the UAE, took strategic steps over the past 12 months to improve the average asset quality of its investment portfolio by shifting a significant amount of fixed deposits from lower-rated or unrated banks to higher-rated banks, S&P Global Ratings (S&P) has pointed out. As of first-quarter 2023, about 86% of investments were in investment-grade entities compared with only 19% at year-end 2021.
Bajaj Allianz Life has launched the country's first term insurance product designed for Type 2 diabetics and pre-diabetic individuals. The plan is targeted at a segment that ends up being underinsured as they are denied cover at standard rates for health reasons.
Retirees continue to face significant upward pressure on their household budgets amid historically high consumer price inflation, says the Association of Superannuation Funds of Australia (ASFA), which is the peak policy, research and advocacy body for Australia's superannuation industry.
China's insurance sector maintained steady operation and adequate solvency in the first quarter of the year, the country's financial regulator has said.
The earnings of Malaysia's local insurance and takaful sector are expected to stage some recovery this year amid volatility in the global financial markets, according to RAM Rating Services (RAM Ratings).
The IRDAI is looking to launch a bundled product that will provide life, health, casualty, and property coverage in a single insurance policy at an affordable price, the chairman of the regulatory agency, Mr Debasish Panda, said.
The National Insurance Commission (NIC) has said that 98% of insurance entities in the country have met the minimum capital requirement that was announced in June 2019.
One of the UAE's biggest insurer, Sukoon (formerly called Oman Insurance Company) has a track record of strong operating performance, notes AM Best.
Orient Insurance, an Al-Futtaim Group company, has partnered with Jebel Ali Free Zone (Jafza), DP World's leading trade and logistics hub, to offer insurance solutions to more than 9,500 companies located in the free zone.
Zurich Financial Services Australia (Zurich) has launched Zurich Evolve, a new offering to protect the health and well-being of customers "at every stage of their lives".