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 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.
The Algerian government intends to review the country's 20-year-old compulsory natural disaster insurance and victim compensation law.
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.
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 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.