The Turkish Catastrophe Insurance Pool (TCIP) has started studies on a plan to double the maximum disaster insurance coverage to TRY1.28m ($61,850) from TRY640,000 at present for a residential property.
Algeria has begun work on launching parametric insurance to cover crops against certain natural disasters (drought, forest fires, etc), Mr Benseidi Abdallah, CEO of the reinsurer, Compagnie Centrale de Re´assurance (CCR), has said.
The insurance sector in Cambodia saw total premiums increase by 5.5% to $96m in the first quarter of this year compared to the corresponding quarter in 2022, according to the Insurance Association of Cambodia (IAC).
House insurance premiums jumped on average by 20.3% in the 12 months ended 31 March 2023, according to data collected by online insurance platform company Quashed.
Qatar Islamic Insurance Group's (QIIG) ability to generate strong operating returns is demonstrated by its five-year weighted average return-on-equity ratio of 13.8% (2018-2022), says AM Best.
The European Council (EC) has adopted a 'negotiating mandate' on the proposed directive to empower consumers for the green transition, which aims at enhancing consumers´ rights by amending the unfair commercial practices directive (UCPD) and the consumer rights directive (CRD).
MS&AD Insurance Group Holdings (Aioi Nissay Dowa Insurance, Mitsui Sumitomo Insurance), Sompo Japan Insurance, Tokio Marine & Nichido Fire Insurance and Nippon Life Insurance have concluded a memorandum of understanding to carry out joint studies on business initiatives to develop sustainable finance.
The Algerian government intends to review the country's 20-year-old compulsory natural disaster insurance and victim compensation law.
The management of Orient Insurance, the largest and most profitable listed insurer in the UAE, took strategic steps over the past 12 months to improve the average asset quality of its investment portfolio by shifting a significant amount of fixed deposits from lower-rated or unrated banks to higher-rated banks, S&P Global Ratings (S&P) has pointed out. As of first-quarter 2023, about 86% of investments were in investment-grade entities compared with only 19% at year-end 2021.
China's insurance sector maintained steady operation and adequate solvency in the first quarter of the year, the country's financial regulator has said.