Among the several positive factors in the insurance markets of the Middle East, including Egypt, are increased demand for reinsurance and the desire of insurance companies to ensure sufficient capacity to meet the needs of their business, according to Ms Catherine Thomas, senior director of analytics at AM Best.
PERILS, the independent Zurich-based organisation providing industry-wide catastrophe insurance data, has released its initial industry loss estimate for the 6 February Kahramanmaras Earthquake Sequence which caused widespread devastation across several regions of Turkiye and Syria.
Singapore's general insurance sector recorded positive results for both the offshore and domestic segments with a combined 15% increase in GWP to S$9.34bn ($7bn) in 2022, according to the latest statistics released yesterday by the General Insurance Association of Singapore (GIA).
China's fifth insurance mutual has entered the market with the formal inauguration of China Fisheries Mutual Insurance Society in Beijing on 17 March 2023.
The Strategy and Budget Office (SBO) of the Turkish Presidency has estimated total damages in the agriculture sector at around TRY24.2bn ($1.3bn) arising from the destructive 6 February earthquakes in southern Turkiye.
Global electronics industry is likely to face a threat from semiconductor supply chain according to a new report by Lloyd's and WTW.
A recent survey has revealed that almost half (49%) of the participating companies have already replaced workers with ChatGPT, the AI tool that emerged on the scene only in November 2022.
The premium production of insurance brokers who provide digital insurance services reached IDR3.88tn ($254m) in 2022, surging by 112% over 2021.
Many pet insurance products have emerged on the market in recent years, providing a variety of medical, hospitalisation, and other areas of coverage, notes the Hong Kong Consumer Council.
The Strategy and Budget Office (SBO) of the Turkish Presidency has published a preliminary analysis of the financial impact of the destructive 6 February earthquakes in southern Turkiye, using post-disaster needs assessment methodology.