The combined ratio of property and casualty insurance companies increased in 1Q2024 because of higher claims paid for damage from weather events such as snow and frost, say insurance industry analysts.
China's five major 'A-shares' listed insurance groups showed improvement in their topline performance in the single month of March 2024, which helped to narrow the decline in cumulative premium income in 1Q2024 compared to that in the first two months of the year.
Fitch Ratings has affirmed the ratings of seven Chinese insurers, and revised the outlooks for six of these seven to 'Negative' while the outlook on the seventh remains 'Stable'.
The synergy and integration of two global foreign insurance players and their Chinese P&C operations are expected to increase, says Fitch Ratings.
Insurers and banks should step up medium- and long-term financial support to the manufacturing industry to make the industry more efficient, innovative and sustainable, according to a joint statement released by several government agencies.
The Insurance and Pensions Commission (IPEC) says Zimbabwe should explore innovative solutions to help mitigate the impact of climate change-related risks and build resilience against its associated disasters.
Insurance companies will be apprehensive of potential exposure from claims filed by private homes and businesses impacted by the severe flooding in Oman since 14 April.
The Securities and Exchange Commission of Pakistan (SECP) has issued a report that explores inclusive insurance in Pakistan, highlighting its untapped market potential.
Global Risk Solutions (GRS), Liberty Mutual's global commercial and specialty (re)insurer and international insurance operations, has been restructured to bring together two business units in Asia - LSM and Asia Retail Markets - under a single unified strategy in the region.
The 3 April magnitude-7.2 Hualien earthquake has led to at least 472 insurance claims and resulted in losses amounting to at least NT$762m ($23.5m) as of 8 April, according to the Taiwan Residential Earthquake Insurance Fund (TREIF).