Italy's top insurer Generali has signed an agreement for the purchase of the majority of the shares held by AXA and Affin in insurance and takaful joint ventures.
Liberty General Insurance, one of the leading general insurance companies, in India has announced its strategic tie-up with Maharashtra Gramin Bank, the largest regional rural bank in Maharashtra.
Major insurers Hyundai Marine & Fire Insurance, Hana Insurance, DB Insurance, and Hanwha General Insurance have announced that they will no longer provide any insurance coverage for construction and operation of new coal power projects.
Publicly-listed private-sector Alliance Assurances has posted a net profit of DDZD481m ($3.6m) for 2020, reflecting a slight decrease compared to 2019 of 0.2%, according to a statement issued by the company.
Australia's biggest bank, Commonwealth Bank of Australia (CBA), yesterday announced it has entered into an agreement to sell its Australian general insurance business, CommInsure General Insurance, to South Africa's Hollard Group.
One of South Korea's leading non-life insurers, Hyundai Marine & Fire Insurance (HMF), has turned in a five-year (2016-2020) average return-on-equity ratio of 10.1%, reflecting an adequate operating performance, according to AM Best.
Uganda's insurance industry hit the trillion ceiling in 2020 having raised UGX1.06tn ($300m) in GWP despite the COVID-19 pandemic, according to the Insurance Regulatory Authority (IRA).
Around 15% of respondents to a survey on SMEs believe that small companies do not need insurance, while 13% say they do not trust insurance companies to pay compensation in the event of an insured risk.
The Competition Authority in Kenya has developed a model contract for the insurance sector, so as to reduce conflicts between parties.
Mandatory inherent defect insurance (IDI) for residential buildings of three floors or less will start to be implemented on 1 July, says the secretary-general of the National Committee for the Saudi Building Code, Mr Saad Al-Shuail.