The Moroccan insurance sector has generated a net profit of MAD3.1bn ($312.5m) in the first half of 2024, 3% higher compared to the corresponding half in 2023, according to data from the Insurance and Social Welfare Supervisory Authority (ACAPS). This performance was due to improved technical results.
The market share of locally incorporated insurance companies in the UAE increased to 73.3% in 2023 from 71.4% in 2022, in terms of gross written premiums, according to the "Annual Statistical Report for the Insurance Sector of the UAE 2023" released by the Central Bank.
Government policy initiatives could generate additional insurance demand in China, according to leading global reinsurance broker Gallagher Re.
The 84 property and casualty insurance companies that have published their 2024 third-quarter solvency reports by 1 November chalked up a combined net profit of CNY50.68bn ($7.1bn) in the first nine months of this year, an increase of 13.6% year-on-year.
The Guangdong-Macau In-Depth Cooperation Zone on Hengqin island aims to facilitate entry by insurers from Portuguese-speaking countries into the mainland Chinese market, a senior financial official has said.
The Insurance Association of China (IAC) has released the 2024 edition of the "Blue Book on High-Quality Insurance Services for Rural Revitalisation", which provides an update on the work of insurers in rural areas.
Suncorp, one of Australia's leading insurers, is working with technology partners on the modernisation and integration of its core policy, pricing and customer platforms as it continues its journey to becoming a digital insurer.
The Australian Prudential Regulation Authority (APRA) is studying ways to promote general insurers' access to reinsurance, including alternative reinsurance arrangements.
Rural households in India have shown an increase in the take-up of insurance coverage, with the proportion of households with at least one-member insured surging from 25.5% 2016-17 to 80.3% in 2021-22.
The South African government is exploring options for purchasing insurance for certain climate-related disaster events, where such a practice would not undermine Budget sustainability.