The Victorian Government has announced in its 2023-24 Budget that it plans to abolish business insurance duty as it introduces tax reforms to help businesses and grow the economy.
The insurance sector in Bangladesh has the potential for rapid expansion and growth because of a number of favourable factors, including government support, according to the CEO of Zenith Islami Life Insurance Mr SM Nuruzzaman.
Insurance companies are looking at ways to reassure and retain customers, following several complaints about insurance sales at banks.
The UAE insurance sector continued to grow in 2022, with the number of licensed entities increasing by 5.53% to 553 in 2022 from 524 in 2021, according to the Central Bank of the UAE (CBUAE).
The prospective operating results of Qatar General Insurance & Reinsurance Company (QGIRC) are expected to be supported by the company's increased focus on selective underwriting, along with steady commission income, says AM Best.
Dalian Wanda Group is mulling the sale of as many as 20 shopping malls in wealthy areas of China, reported Bloomberg quoting people familiar with the matter, as the indebted conglomerate tries to avert a liquidity crunch.
Changes in regulatory policies and market demand have led to higher requirements for talent in the mainland Chinese insurance market.
With several banks cutting interest rates on customer deposits since mid-May, wealth management and insurance products have become the focus of attention.
The Indonesian Life Insurance Association (AAJI) does not rule out the possibility that there could be mergers and acquisitions in the sector to meet capital requirements over the longer term.
Life insurance companies in India are looking at new avenues and strategies to counter the impact of the removal of tax exemptions for non-unit-linked insurance policies with premium of over INR500,000 ($6,040) that was given effect in the 2023 Budget.