The Societe Generale Assurance Mediterraneenne (GAM) has announced that it will launch the first general takaful products in Algeria in early April, after it has established its takaful window.
Sri Lanka Insurance Corporation (SLIC), the largest state-owned insurer in the country, closed the year 2021 with a total GWP of LKR43bn ($213m) amidst a turbulent time, an increase of 9.7% over 2020.
Finance Minister Zafrul Abdul Aziz has said that he looked forward to the upcoming entry of digital banks, digital insurers and takaful operators into the Malaysian financial sector.
The Financial Sector Blueprint 2022-2026 released yesterday by the Malaysian government outlines several areas in which the insurance and takaful sector would play a role in meeting the objectives of the strategic plan.
"Co-opetition" (i.e., competing and collaborating at the same time) will become a mainstay of insurers' strategies as they build ecosystems and deal with convergence with other sectors, says global professional services firm EY.
Two insurance industry experts have identified several market segments that are currently under-served by insurers in Bangladesh.
The Africa Continental Free Trade Area (AfCFTA) agreement, which took effect in January 2021, gives impetus to insurance companies on the continent to venture into the Ghanaian market to do business, a situation that could pit local insurers against continental giants.
The Algerian Union of Insurance and Reinsurance Companies (UAR) has issued a note to its members, reminding them to abide by a December 2020 multilateral agreement limiting discounts on tariffs in motor insurance to 50%.
Total premium generated in the Turkish insurance market increased by 27.5% to TRY105.3bn ($7.8bn) in 2021, as compared to 2020, the Insurance Association of Turkey (TSB) has announced. The statistics were compiled from data released by member companies.
India's post-pandemic recovery will sustain growth in insurance premiums, improving profitability amid favourable government reforms to the state-owned insurance sector, according to a new report by Moody's Investors Service.