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Property & Casualty tag returned 4223 results

  • Uganda: Sole local reinsurer's focus is on voluntary business

    Amidst the challenging economic environment in 2021, Uganda Reinsurance registered a 0.1% growth in Gross Written Premiums and a 9.95% increase in investment income for the year ended 31 December 2021, says the company's chairman, Professor Twaha Kigongo Kaawaase, in the reinsurer's recently released 2021 annual report.

    Africa | 26 Sep 2022
  • Mauritius: French development agency takes strategic stake in MUA

    French development institution Proparco has acquired a stake worth $10m in Mauritian insurance company MUA, which has a presence in several markets in Africa.

    Africa | 26 Sep 2022
  • Egypt: Insurers renew calls for customers to reassess insured asset sums amidst rising inflation

    The Egyptian Financial Regulatory Authority (FRA) has directed insurance companies to urge customers to re-assess the insurance coverage amounts on their assets in proportion to current market values that have shot upwards because of inflation and the depreciation of the local currency.

    Middle East | 26 Sep 2022
  • India: 2 bidders join forces to acquire Reliance General Insurance

    Piramal Financial and Zurich Insurance, which have submitted separate bids for the general insurance business of debt-laden Reliance Capital, have decided to form a joint venture to bid for the business.

    Asia | 26 Sep 2022
  • Indonesia: Property and fire fuel 20% jump in 1H general insurance premiums

    The general insurance sector generated premium income totalling IDR46.04tn ($3.05bn) in the first half of this year, representing an increase of 20% compared to the corresponding period in 2021, according to data from the General Insurance Association of Indonesia (AAUI).

    Asia | 26 Sep 2022
  • Taiwan: COVID-related losses viewed as one-off event

    COVID-19 insurance claims are expected to drag on Cathay Century Insurance's operating results in 2022 and possibly 2023, says AM Best that nevertheless regards the negative impact as a one-off event.

    Asia | 26 Sep 2022
  • Hong Kong: Well Link Life CEO takes on more responsibilities

    Well Link has appointed Mr Thomas Lee as CEO of Well Link Insurance and deputy CEO of Well Link Insurance Group, while continuing to serve as the CEO of Well Link Life. He is responsible for leading the business development of life insurance and general insurance. The appointment has been approved by the regulatory authority. He is a senior executive in the Hong Kong insurance industry. He assumed the role of CEO of Well Link Life in April 2019.

    People | 23 Sep 2022
  • Number of insurance sales personnel plunge by 4m in 2.5 years

    The insurance industry counted 5.707m sales personnel nationwide as of 30 June 2022, according to a report issued by the CBIRC based on data from the insurance intermediary supervision information system.

    China | 23 Sep 2022
  • Days of double-digit business growth "are over", says major insurance group

    The days of double-digit or even higher growth in the mainland Chinese insurance industry are gone, and steady growth is now the norm, say senior management of China Pacific Insurance (Group) Co [CPIC].

    China | 23 Sep 2022
  • No single foreign or Sino-foreign insurance venture has over 2% of mainland Chinese market

    China's insurance market has grown over 40 years to become the world's second-largest insurance market, after the US. However, the growth has been largely based on the activities of domestic players, notes the Insurance Working Group (IWG) of the European Union Chamber of Commerce in China.

    China | 23 Sep 2022

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