The Tunisian Insurance and Reinsurance Company (STAR), Tunisia's biggest insurer, has announced that its net profit fell by 15.47% to TND26.97m ($8.64m) in 2023 from TND31.90m in 2022, according financial statements lodged with the Tunis bourse.
Insurance industry doyen and a founding editor of Asia Insurance Review Reynaldo de Dios passed away on 5 May 2024. He was 96 and had played an integral role in the insurance sector for 75 years.
Triple P Capital, leading a group of investors, has completed the acquisition of an 85% stake in MAA General Assurance Philippines (MAAGAP) from MAA Group.
Ongoing economic development and rapid urbanisation will result in further accumulation of infrastructure and private assets that need to be insured, including against natural catastrophe risks, says Swiss Re Institute (SRI).
The General Insurance Fund (GIF) is presenting a choice to holders of COVID-19 insurance policies who have lodged claims against insolvent insurers that collapsed under the weight of COVID-19 liabilities.
The insurance sector has urged President Bola Tinubu and state governors to include insurance experts in their economic teams.
The insurance penetration rate in Turkiye reached 2.3% for the first time in the last 10 years and the country is moving towards the goal of reaching 3%, according to Mr Ugur Gulen, who was re-elected as the president of the Insurance Association of Türkiye (TSB) in April 2024.
Robust economic development and lines of compulsory insurance have been the main drivers of industry expansion in the region in recent years, says Swiss Re Institute (SRI).
The unaudited 1Q2024 net profits reported by China's five major 'A-share'-listed insurance groups amounted to a combined CNY83bn ($11.5bn), 9.2% lower than in the corresponding quarter in 2023.
Motor insurance premiums accounted for 43.7% of non-life insurers' total premiums in 1Q2024, representing a drop of one percentage point from 44.7% in 1Q2023, according to data released by the National Financial Regulatory Administration (NFRA).