The premium income of the mainland Chinese insurance industry stood at CNY1.02tn ($149bn) in the first month of this year, representing a year-on-year increase of 3.8%, according to statistics released by the CBIRC on 21 March.
The insurance sector in Taiwan has the highest exposure to Credit Suisse at NT$108.2bn ($3.6bn) as of the end of January 2023, according to data from the Financial Supervisory Commission (FSC).
Provisional general insurance claims data for Cyclone Gabrielle, released by the Insurance Council of New Zealand (ICNZ) show that over 40,000 claims have been recorded to date, worth around NZ$890m ($557m).
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.