The distribution network is picked by several top insurance executives as the most important driver that their companies rely on to grow their business in the next two years.
Insurance brokers are ready to increase their contribution to the insurance business from 60% to 90%.
The professional intermediary channel business including insurance brokerage has become the third largest distribution for life insurance companies in China after the personal agent and bancassurance channels. It is expected to develop at a relatively fast speed in the next few years.
Gallagher Re, the global reinsurance broking and advisory firm, yesterday announced plans to expand its operations in India and create a single treaty reinsurance team that will further enhance client service delivery and create a platform for continued investment and growth in the Indian market.
Honan Insurance Group (Honan), one of Australia's fastest-growing brokers, has announced its acquisition of Ardrossan Insurance Brokers.
Nasdaq-listed Fanhua, a leading independent financial services provider in China, has signed a definitive agreement with the existing shareholders of Jilin Zhongji Shi'An Insurance Agency to acquire 51% of the equity interests of Zhongji.
Natural disasters caused economic losses of over $772m in the Middle East in 2022, according to the report "2023 Weather, Climate and Catastrophe Insight" published last week by global insurance and reinsurance broker Aon.
London-headquartered BMS, the independent global specialist insurance and reinsurance broker, has announced the acquisition of Austbrokers Coast to Coast (C2C), the specialist Australian corporate, business, and retail broker, effective 17 January. The terms of the transaction have not been disclosed.
The Financial Services Authority (OJK) has issued a new regulation governing insurance intermediaries.
Gallagher yesterday announced it is launching energy and power risk services for clients in the Middle East.