The Insurance and Social Security Supervisory Authority (ACAPS) has published a directive relating to the processing of death insurance claims, which is to take effect from 1 July 2025.
Fitch Ratings has placed five Taiwanese life insurers under review for potential downgrades, following significant balance sheet pressures caused by a sharp appreciation of the Taiwan dollar in early-May.
According to news platform The Hindu, the Indian government has appointed to Life Insurance Corporation of India (LIC) Mr Dinesh Pant and Mr Ratnakar Patnaik to the posts of managing directors, effective on or after 1 June.
Gulf Insurance Group (GIG) has increased its net insurance result by 39% to KWD8.7m ($28.2m) in the first quarter of 2025, up from KWD6.2m in the corresponding period last year, primarily driven by a significant improvement in the performance of its underlying insurance operations across the majority of its subsidiaries and lines of business.
Prudential Singapore has launched PRUHospital Care360, a hospital income insurance plan designed to provide financial support to individuals for their unexpected hospital stays and the subsequent recovery period. The plan provides a daily income if the life assured is hospitalised due to illness or injury, as well as lump sum benefits for post-hospitalisation recuperation and day surgery.
Pacific Life Re has appointed Mr Kenichi Kim as head of South Korea. In his new role, he will oversee the company's growth and operations in the region.
WTW has appointed Mr Luke Ware as head of Asia, in addition to his current position as head of corporate risk and broking, Asia.
Lioner has appointed Mr Francis Tang as managing director, Hong Kong.
The absence of rains coupled with rising premium rates has led to insurance revenue growing by 21% in the first three months of 2025 in the UAE, reaching AED11.9bn ($3.2bn) versus AED9.8bn in the corresponding period last year, says Badri Management Consultancy, an international actuarial and risk consulting company.
Insurance companies operating in the Egyptian market posted combined pre-tax profits of EGP25.9bn ($513.3m) for the financial year ended 30 June 2024 (FY2024), compared to EGP14.06bn for the previous fiscal year, representing a growth rate of 84.2%, according to the annual statistical book issued by the Financial Regulatory Authority (FRA).