Manulife Singapore has introduced Manulife Pro, its first-ever comprehensive premier recognition programme, which provides the top-performing financial consultants from Manulife (Singapore) and Manulife Financial Advisers with differentiated and dedicated resources and tools.
The insurance sector in Cambodia saw total premiums increase by 5.5% to $96m in the first quarter of this year compared to the corresponding quarter in 2022, according to the Insurance Association of Cambodia (IAC).
A number of insurers are mulling an increase in the premium rates for term life insurance this year after two years of high claims from the COVID-19 pandemic.
Bowtie, Hong Kong's first virtual insurer launched four years ago, has grown together with industry peers to triple the market share of the direct distribution channel to 8.5%.
Qatar Islamic Insurance Group's (QIIG) ability to generate strong operating returns is demonstrated by its five-year weighted average return-on-equity ratio of 13.8% (2018-2022), says AM Best.
The Insurance Development and Regulatory Authority (IDRA) has allowed life insurance companies to offer full-fledged health insurance policies, ending the monopoly of non-life insurers in the medical insurance market.
MS&AD Insurance Group Holdings (Aioi Nissay Dowa Insurance, Mitsui Sumitomo Insurance), Sompo Japan Insurance, Tokio Marine & Nichido Fire Insurance and Nippon Life Insurance have concluded a memorandum of understanding to carry out joint studies on business initiatives to develop sustainable finance.
PICC Life Insurance has signed an agreement to set up a CNY100m ($14.1m) insurance trust with Beijing-based China Credit Trust Co, one of the biggest trust companies in China.
State-controlled LIC, India's biggest insurer, has posted an increase in consolidated net profit after tax of 7.7 times for the financial year ended 31 March 2023 (FY2023). The net result reached nearly INR360bn ($4.4bn).
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.