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Property & Casualty tag returned 5866 results

  • Kenya: Proposed VAT changes expected to hit insurance business

    International tax advisory firm Ernst & Young (EY) has raised concerns about the potential negative impacts of the proposed amendments to the VAT Act, 2013, particularly regarding the insurance sector.

    Africa | 20 May 2024
  • Saudi Arabia: Insurance market continues profitable trend in 1Q

    The record profitability (after zakat & tax) seen in the insurance industry in 2023 has continued in 2024 with the sector reporting a 48% upsurge in net profits to SAR879m ($234m) in 1Q2024 from SAR594m in 1Q2023, says Badri Management Cosultancy.

    Middle East | 20 May 2024
  • UAE: Dubai Insurance Co, a top 5 insurer, receives ratings boost

    AM Best has upgraded Dubai Insurance Company's (DIN) Financial Strength Rating to 'A' (Excellent) from 'A-' (Excellent) and the Long-Term Issuer Credit Rating to "a" (Excellent) from "a-" (Excellent) of Dubai Insurance Company (PSC) (DIN) (). The outlook of these credit ratings has been revised to 'Stable' from 'Positive"

    Middle East | 19 May 2024
  • Kuwait: Regional insurer sees 5% fall in net profit in 1Q

    Gulf Insurance Group (GIG) has announced a net profit of KWD10.9m ($35.6m) for the quarter ended 31 March 2024, 5.2% lower compared to KWD11.5m for the corresponding quarter last year.

    Middle East | 19 May 2024
  • Algeria: Agricultural disaster insurance scheme to be launched shortly

    The Caisse Nationale de Mutualité Agricole (CNMA), which dominates the agricultural insurance market, is preparing to launch "very soon" a product covering crops for climate change risks, such as drought and floods.

    Middle East | 19 May 2024
  • Party leads moves to improve resolution process for ailing financial institutions

    The Communist Party branch of the Resolution and Disposal Department of the National Financial Regulatory Administration (NFRA) has stating that it will improve the resolution process for insolvent financial institutions that will give priority to self-rescue funds to absorb losses, and explore the use of private capital to participate in the restructuring of ailing small and medium-sized financial institutions.

    China | 17 May 2024
  • India: General insurance industry to reach US$57.3bn by 2028

    India's general insurance industry is set to grow at a compound annual growth rate (CAGR) of 9.9% from INR3.35tn ($40.36bn) in 2024 to INR4.89tn ($57.3bn) in 2028, in terms of gross written premiums (GWP), forecasts data and analytics company GlobalData.

    Asia | 17 May 2024
  • China: Guoren P&C's underwriting performance expected to be tested due to credit business

    The stability of Guoren Property and Casualty Insurance's underwriting profitability is expected to be tested, says Fitch Ratings.

    Asia | 17 May 2024
  • Saudi Arabia: Cultural insurance takes root

    With the launch of cultural insurance in April 2024 in Saudi Arabia covering artworks and cultural assets, insurance companies are beginning to provide insurance products for the cultural and heritage sector, according to the official spokesman for the Saudi Ministry of Culture, Mr Abdulrahman Almutawa.

    Middle East | 16 May 2024
  • Thailand: Regulator and general insurers launch database to promote industry development

    Thailand's insurance regulator, the Office of Insurance Commission (OIC), has launched an insurance database system (IBS) in collaboration with the Thai General Insurance Association and general insurance companies.

    Asia | 16 May 2024

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