The investment risk of life insurers in China associated with homebuilders (excluding debt investment schemes) is expected to be manageable as the insurers have adequate capital to absorb potential losses, says Fitch Ratings.
China's basic medical insurance scheme will face over the next 10 years the dual pressure of an aging population and the need to adjust the interests of various stakeholders in the system. Medical insurance funding should be the top reform priority in the next 10 years.
Chinese insurance companies are unlikely to shift their investment portfolios significantly towards lower-rated bonds, despite a recent relaxation in credit rating requirements for their bond investments, Fitch Ratings says.
A new report released by the Insurance Council of Australia (ICA) has found that Australia's houses are not resilient to tropical cyclone hazards, which are expected to become more severe as the climate changes.
Oman Reinsurance Company (Oman Re), the Sultanate's first and only reinsurer, undertook an initial public offering on Muscat Stock Exchange (MSX) last month from which it raised OMR2.62m ($6.8m) in fresh equity.
The Insurance Board, Nepal's insurance regulator, in a recent circular has mandated all life and non-life insurance companies to seek 100% reinsurance support from domestic reinsurance companies only.
The government has said that there is no proposal as of now to merge public-sector general insurance companies.
A review of the handling by insurers of nearly 9,000 insurance claims from consumers affected by the 2019-20 'Black Summer' bushfires shows improved claims handling practices, says the Australian Securities and Investments Commission (ASIC).
In the face of significant market movements and disrupted economic activity, insurers remained operationally and financially resilient, according to the International Association of Insurance Supervisors (IAIS) in its updated targeted assessment this year of the impact of COVID-19 on the global insurance sector based on year-end 2020 data.
The price of the new mandatory health insurance policy for expatriates working in the private sector in Kuwait will be KWD130 ($430) a year per person when the scheme commences, according to Mr Thamer Arab, CEO of Health Assurance Hospitals Company (Dhaman) which is providing the coverage.