The UAE government has formally proposed to reschedule till next year the staging of Expo 2020 Dubai, to allow for recovery from the difficult business conditions brought about by the COVID-19 pandemic that has also affected participating countries.
China's ambitious global project Belt and Road Initiative (BRI) runs the risk of remaining incomplete or being abandoned if uncertainties around the COVID-19 pandemic persist.
New life and family takaful business in Malaysia performed better (+11%) in the second half of 2019 relative to the same period last year, notes Bank Negara Malaysia (BNM) in its financial stability report for 2H2019 released last week.
The Financial Supervisory Commission (FSC) has approved a pilot project involving a joint blockchain platform by a group of life and P&C insurance companies.
The insurance market was profitable in 2019, according to data released by the Insurance Association of Turkey (TSB). The total technical profit chalked up by the industry last year stood at TRY7.75bn ($1.15bn), a jump of 52% over 2018.
The low interest rate environment in recent years has increased the capital buffers that insurers and takaful operators (ITOs) in Malaysia are required to hold against market risk exposures, says Bank Negara Malaysia (BNM) in its financial stability report for 2H2019 released last week.
The National Credit Regulator (NCR) has advised consumers to make use of their credit life insurance, to obtain some relief if they are unable to earn an income as a result of COVID-19.
No insurance company is going to fold in the ongoing recapitalisation exercise initiated by the sector's regulator, National Insurance Commission (NAICOM), according to Mr Simon Okeke, executive chairman of Purebond Insurance Brokers, who has over three decades' experience in the insurance industry.
The gross written premiums of 50 licensed insurance companies in Lebanon reached $1.61bn in 2019, constituting a decrease of 4% from $1.68bn in 2018, according to data released by the Insurance Control Commission.
Insurance companies in Algeria recorded huge losses during the first quarter of 2020, with premium income falling by DZD6bn ($47.4m), a decrease of 10% compared to the first three months of 2019.