AFG Holding has just concluded the purchase of an insurance company in Cote d'Ivoire, according to Mr Romeo Bouba, deputy managing director in charge of the finance department of AFG Holding.
Called Jeevan Utsav, it is a non-linked, non-participating, comprehensive form of life insurance providing lifetime coverage.
The 15th China Rendezvous marked its notable return after a three-year hiatus when it was held in Beijing on 1 December. This year's theme, "Embracing the New Era of Excellence -- The Future Map for Insurance", highlights the potential of China's insurance industry, the world's second-largest insurance market.
India's biggest life insurer, Life Insurance Corporation (LIC), is planning to open an office in GIFT International Financial Services Centre in Gujarat during the current fiscal year ending 31 March 2024 to further its overseas operations.
Dubai National Insurance & Reinsurance (DNI) has a track record of strong operating performance, as demonstrated by a five-year (2018-2022) weighted average return-on-equity ratio of 8.2%, says AM Best.
New business premiums derived in Hong Kong from mainland Chinese visitors fell by 32.9% to HK$15bn ($1.92bn) on a quarterly basis in the third quarter of this year, according to data released by the Hong Kong Insurance Authority.
Sentiment in the insurance market in China is upbeat about the prospects for the sector in 2024, say several analysts.
Leading Chinese life insurers China Life and New China Insurance (NCI) have announced a joint plan to invest CNY25bn ($3.5bn) each to launch a private equity company.
The mainland Chinese insurance industry grew by 11% in the first three quarters of this year to CNY4.25tn ($601bn), according to data released by the National Administration of Financial Regulation (NAFR).
ABC Life Insurance has followed on the heels of Taikang Life Insurance and China Pacific Life to issue perpetual bonds to strengthen its capital position.