Insurance rates in the Pacific region declined by 2% in the first quarter of 2024, according to the "Global Insurance Market Index" published by Marsh.
Payouts on claims arising from the 1 January magnitude-7.5 Noto earthquake remain ongoing with the total insured loss, as estimated by the General Insurance Association of Japan (GIAJ), tentatively expected to exceed JPY100bn ($660m), says Aon.
Qatar Insurance Company (QIC Group, QIC), the leading insurer in Qatar and the Middle East North Africa (MENA) region, has reported a net profit of QAR194m ($53.3m) for the first quarter of 2024, 11% higher than the QAR175m posted for the corresponding quarter in 2023.
Changing the risk profile of communities exposed to extreme weather in Victoria requires action to make homes, businesses, and communities more resilient to extreme weather, by shifting what is build and where it is built, according to the Insurance Council of Australia (ICA).
The Hong Kong Federation of Insurers (HKFI) has announced the appointment of its Governing Committee for the term 2024/2025.
The overseas branches of South Korean insurance companies saw their combined net income turn to red last year, according to the Financial Supervisory Service (FSS).
Arabian Shield Cooperative Insurance Company (ASC) has been assigned an Insurer Financial Strength (IFS) Rating of 'A-' by Fitch Ratings.
While preliminary estimated insured property losses arising from the floods in April in the UAE are likely to exceed US$650m, they could reach as high as $850m, with the most affected emirate being Dubai, says Guy Carpenter, a leading global risk and reinsurance specialist.
The Insurance Council of New Zealand (ICNZ) has endorsed findings that New Zealand needs to act decisively in the face of natural hazards risks to ensure insurance is affordable and available in the future.
Alta, which operates a private-market digital securities exchange in Asia, and Phillip Securities Pte Ltd (PSPL), the largest retail broker in Singapore, yesterday announced the inaugural trade for the first tranche of shares from Income Insurance shareholders.