Shanghai International Group and seven other companies have received approval from the National Administration of Financial Regulation (NAFR) to establish Shenergy Property & Casualty Insurance with a registered capital of CNY10bn ($1.37bn).
The post-90s generation has become the mainstay customers of pet insurance, accounting for more than 60% of total pet insurance policyholders. Among them, women account for up to 70%, according to the "2023 White Paper on Insights into Pet Digital Insurance Development Trends" jointly released by ZhongAn Insurance and Ant Insurance.
Listed China Coal Energy Group is seeking to exit its investments in China Coal Insurance.
The surety insurance bond market is yet to take off in India due to unaddressed risks and the absence of market makers, according to The Infravision Foundation (TIF), an independent think-tank.
State-owned China Export & Credit Insurance Corporation (Sinosure) has warned the Government of Pakistan against failure to honour its commitment to make due payments to power generation plants established in the China-Pakistan Economic Corridor (CPEC).
The legislative infrastructure and ecosystem for participation insurance (takaful) will be improved, and regulations will be implemented for the more effective and transparent implementation of insurance techniques compatible with participation finance principles.
A lot of work has still to be done so that the insurance market in Algeria can reach its full potential, estimated at between $5bn to $8bn annually, higher than the current $1bn, Mr Hassen Khelifati, CEO of Alliance Assurances, has said.
The 29 members of the General Insurance Association of Japan (GIAJ) posted a combined ordinary profit of JPY767bn ($5.17bn), calculated as the sum of underwriting profit and investment profit, according to the Non-Life Planning Department of The Toa Reinsurance Company.
The Financial Services Commission (FSC) will unveil new measures in October to promote the pet insurance market.
The Insurance Council of Australia (ICA) is emphasising the need for early bushfire preparation so property owners and tenants can reduce risk and safeguard their homes and property.