Manufacturers have warned that some companies could forego insurance coverage in the face of premium hikes amidst current hard economic times.
The insurance industry in Turkiye posted a 123.2% surge in total premiums to more than TRY235bn ($12.5bn) in 2022 compared to 2021, according to the Insurance Association of Turkiye (TSB).
2023 will be a more positive year for the insurance industry than 2022, predicts Generali Sigorta CEO Mr Sylvain Ducros.
In India, like large corporations and cooperatives, the government too can benefit from the use of insurance captives for public programmes like the Pradhan Mantri Fasal Bima Yojana (PMFBY) and Pradhan Mantri Jan Arogya Yojana (PMJAY), says Mr Ankur Nijhawan, CEO of AXA France Vie India Reinsurance Branch.
Global professional services provider EY has announced the launch of its Middle East and North Africa (MENA) Climate Change Readiness Index (CCRI), a pioneering tool designed to help countries in the region assess and improve their resilience to the impacts of climate change.
Ice in Greenland is defrosting, leading to melting events that could raise sea levels by almost 51cms by the end of the century according to a new research study.
The latest trends in the Korean pet insurance industry are long-term insurance plans and sales in offline channels, says Shim Jun-won, CEO of Petfins, a local pet insurer.
Mr Tapan Singhel, managing director and CEO of Bajaj Allianz General Insurance, has been elected as the chairman of the General Insurance Council (GI Council), with the post to be headed for the first time by a private-sector insurance figure.
The Insurance Council of Zimbabwe (ICZ) says that it is planning to increase the insurance penetration rate in the country from the current 2.6% by equipping the rural farming community with knowledge about insurance.
The insurance industry will need a capital infusion of INR500bn ($6.2bn) per year to double its penetration in the next five years, the IRDAI chairman, Mr Debasish Panda, has said.