The National Insurance Commission (NAICOM) has revealed that it has drawn up a 10-year strategic roadmap for the insurance market to elevate the industry.
Insurance companies that are members of the West African Insurance Companies Association (WAICA) are being urged to adopt the International Financial Reporting Standard (IFRS) 17.
South African life insurers and investment companies detected 8,931 cases of fraud and dishonesty in 2022. While losses worth ZAR1.1bn ($58m) were prevented, the industry lost ZAR77m to fraud in 2022.
Qatar's insurance industry will launch climate insurance products, according to the Qatar Central Bank's (QCB) recently launched its third financial sector strategy.
The Monetary Authority of Singapore (MAS) is proposing changes to the Policy Owners' Protection Scheme to enhance its coverage, simplify its design, and improve its operational efficacy.
The Securities and Exchange Commission of Pakistan (SECP) has published in the Official Gazette the date of adoption of the International Financial Reporting Standard (IFRS) 17 - Insurance Contracts - by companies engaged in insurance/takaful and re-insurance/re-takaful business.
Australian consumers are the big winners in a significant shake-up of financial advice laws that will allow life insurers to provide simple advice directly to their customers, says the Council of Australian Life Insurers (CALI).
Looking ahead to 2024, two themes that are sure to help define the year for insurers in Hong Kong and Singapore are mergers & acquisitions and regulatory developments, according to Clearwater Analytics, a leading provider of SaaS-based investment management, accounting, reporting, and analytics solutions.
Despite potential rate decreases, growth of the insurance industry in Asia is expected to be sustained in 2024, driven by rising demand in underpenetrated insurance markets such as China, Southeast Asia, and India, says CreditSights, a research unit of Fitch Solutions.
The Ministry of Investment of Saudi Arabia (MISA), in coordination with the Ministry of Finance and the Zakat, Tax and Customs Authority (ZATCA) yesterday announced a 30-year tax incentive package for The Regional Headquarters (RHQ) Programme.