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.
The earnings of Malaysia's local insurance and takaful sector are expected to stage some recovery this year amid volatility in the global financial markets, according to RAM Rating Services (RAM Ratings).
The IRDAI is looking to launch a bundled product that will provide life, health, casualty, and property coverage in a single insurance policy at an affordable price, the chairman of the regulatory agency, Mr Debasish Panda, said.
The National Insurance Commission (NIC) has said that 98% of insurance entities in the country have met the minimum capital requirement that was announced in June 2019.
One of the UAE's biggest insurer, Sukoon (formerly called Oman Insurance Company) has a track record of strong operating performance, notes AM Best.
Orient Insurance, an Al-Futtaim Group company, has partnered with Jebel Ali Free Zone (Jafza), DP World's leading trade and logistics hub, to offer insurance solutions to more than 9,500 companies located in the free zone.
The Victorian Government has announced in its 2023-24 Budget that it plans to abolish business insurance duty as it introduces tax reforms to help businesses and grow the economy.
Insurance companies are looking at ways to reassure and retain customers, following several complaints about insurance sales at banks.