HSBC Life has introduced Life Treasure III, a regular premium, participating whole life insurance plan which allows clients to multiply their coverage by up to six times, provides financial safeguards for accidental death, and offers broader protection against critical illnesses.
The Shandong Provincial People's Procuratorate has ordered the arrest of Li Quan, former chairman of New China Insurance, for suspected embezzlement and bribe-taking. The insurer, listed in Hong Kong and Shanghai, is one of the biggest life insurance companies in China.
State-owned Société Nationale d'Assurance (SAA or National Insurance), Algeria's biggest insurer, has a track record of stable operating performance, with profit before tax ranging from DZD2.5bn ($22.6m) to DZD3.6bn between 2019 and 2023, translating in a five-year weighted average return on equity of 6.3% (as calculated by AM Best).
Gulf International Services (GIS), one of the leading companies in oil and gas services in the region, has announced that it intends to list Al Koot Insurance and Reinsurance Company (Al Koot) on the Qatar Stock Exchange.
The National Financial Regulatory Administration (NFRA) has said that it would issue supporting policies to promote the development of commercial health insurance, to meet the diverse health protection needs of the people.
New China Insurance (NCI), a listed life insurer, has announced a significant profit increase for the first three quarters of 2024.
More than two in five (42%) insurance policyholders in China say that they would be deterred from purchasing insurance from the same insurer again, if their claims were denied, according to the findings of a survey commissioned by Hong Kong-based reinsurer Peak Re.
The Securities and Exchange Commission of Pakistan (SECP) yesterday proposed to increase the minimum paid-up capital requirement for insurance companies as part of its "Insured Pakistan" initiative.
Shareholders of Shin Kong Financial Holding and Taishin Financial Holding have voted to merge their two groups, that would create Taiwan's fourth-biggest financial services group.
Sumitomo Life Insurance Company's core profit margin moderately improved to 12% in the financial year ended March 2024 (FYE2024), from 11% a year earlier, notes Fitch Ratings.