The National Insurance Commission (NAICOM) is working towards implementing a risk-based capital regime in 2024.
Digital insurance platform mTek, digital informal retail aggregator Kyosk.app and FinTech platform Fin have formed a partnership to provide insurance to over 100,000 Kenyan dukas (shops).
PICC Reinsurance Company's (PICC Re) profitability has gradually improved as it continues to build scale and tighten risk selection to reduce its underwriting losses while growing its investment income, says Moody's Investors Service (Moody's).
Composite insurance pricing in the Pacific region increased 5% in the fourth quarter of 2022, the same as in the prior quarter, according to the 4Q2022 "Global Insurance Market Index" report released last week by leading global insurance broker Marsh.
To look into the implementation of the Work Injury Compensation regime for Platform Workers, the Ministry of Manpower will set up a Platform Workers Work Injury Compensation Implementation Network (PWIN) to develop key operational policies for the Work Injury Compensation regime for Platform Workers. This was announced by Manpower Minister Tan See Leng at a dialogue session with around 120 platform workers on 3 February.
China's insurance industry posted CNY4.7tn ($697bn) in premium income in 2022, an increase of 4.58% compared to 2021, according to statistics released by the CBIRC.
Home property insurance grew at the fastest pace in 2022 among the various branches of insurance in China, with an increase of 67.3% to CNY16.4bn ($2.44bn) compared to 2021, data released by the CBIRC show.
Affordable rental housing is an attractive, growing risk pool for property insurance solutions in China, given its combination of social protection features through the government's support and endorsement, and fully market-orientated financing for its construction and business operations, says Swiss Re Institute (SRI).
Insurance pricing in the fourth quarter in Asia increased by 2%, the same as in the prior quarter, according to the 4Q2022 "Global Insurance Market Index" report released yesterday by leading global insurance broker Marsh.
2023 is going to be a transformative year for the Korean insurance industry given that major regulatory changes are taking effect and their implications could be significant across the insurance sector, says Korean Re in a blog.