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Property & Casualty tag returned 1956 results

  • South Korea: Motor insurers jump on new school-zone rule

    Samsung, Hyundai, Meritz and several other general insurers are taking advantage of new safety regulations in school zones to offset their deteriorating profits caused by low interest rates and the coronavirus pandemic.

    Asia | 03 Apr 2020
  • Saudi Arabia: Regulator releases model IDI policy

    The Saudi Arabian Monetary Authority (SAMA) has issued the model text for the compulsory inherent defects insurance (IDI) policy.

    Middle East | 02 Apr 2020
  • Jordan: Insurers likely to suffer major losses if COVID-19 crisis drags on

    The volume of work at insurers has lessened while personnel costs remain the same during the ongoing COVID-19 crisis, Mr Majed Smeirat, president of the Jordan Insurance Federation (JIF) has said.

    Middle East | 02 Apr 2020
  • China: Korean insurance venture posts stable interest income

    LIG Insurance (China), a wholly-owned subsidiary of Korean insurer KB Insurance, has generated positive net profits consistently over the past five years, notes AM Best. Stable interest income, derived from a highly conservative investment portfolio, continued to be the main driver of its operating performance which helped to offset marginal underwriting results.

    Asia | 02 Apr 2020
  • COVID-19: Singapore's central bank and financial industry announce measures to support individuals and SMEs

    The Monetary Authority of Singapore (MAS), together with the Association of Banks in Singapore (ABS), the Life Insurance Association (LIA), the General Insurance Association (GIA), and the Finance Houses Association of Singapore (FHAS), announced a package of measures to help ease the financial strain on individuals and SMEs caused by the COVID-19 pandemic.

    Agents | 01 Apr 2020
  • Egypt: P&C insurers increase average retention rate in FY2019

    P&C insurers in Egypt showed an average retention rate of 59.8% for the financial year ended 30 June 2019 (FY2019), an increase of 2.5 percentage points compared to 57.3% in FY2018.

    Middle East | 01 Apr 2020
  • Egypt: Several P&C insurers increased capital in FY2019

    Eight commercial P&C insurance companies pumped in funds totalling EGP277m ($17.5m) in the last financial year ended 30 June 2019 (FY2019), increasing their combined capital to EGP1237m at 30 June 2019.

    Middle East | 31 Mar 2020
  • Hong Kong: High-level panel proposes tax measures to enhance insurance industry

    The Financial Services Development Council (FSDC) is proposing several tax measures for both insurance companies and individual policyholders. The goal is to foster the competitiveness of the insurance industry in Hong Kong and encourage Hong Kong citizens to better protect their day-to-day health from risks and accidents through insurance.

    Asia | 31 Mar 2020
  • New Zealand: Tower sues quake insurer for US$48m restoration costs

    Tower Insurance yesterday advised it has lodged formal proceedings against the government-run Earthquake Commission (EQC) for more than NZ$80m ($48m) which the insurer said it is owed for rectifying building issues on EQC's behalf.

    Asia | 31 Mar 2020
  • Nigeria: Insurance market sees M&A deals

    Private equity firm Verod Capital Management is set to buy all 100% of Law Union & Rock Insurance and recapitalise the insurer.

    Africa | 30 Mar 2020

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