Insurance companies that are members of the West African Insurance Companies Association (WAICA) are being urged to adopt the International Financial Reporting Standard (IFRS) 17.
Qatar's insurance industry will launch climate insurance products, according to the Qatar Central Bank's (QCB) recently launched its third financial sector strategy.
Saudi Arabian Oil Company's (SAOC) captive insurance company, Bermuda-based Stellar Insurance, is expected to show a strong performance in 2023 and prospectively, says AM Best.
Members of the ASEAN Reinsurance Working Committee (ARWC) have signed a Memorandum of Understanding (MoU) to support underwriting capacity and set up the terms for the establishment of the ASEAN Renewable Energy Pool (AREP) under the supervision of ASEAN Insurance Council (AIC).
Solidarity Bahrain is expected to continue to achieve adequate operating results in the medium term as it continues to grow and integrate Al Hilal Life, while focusing on technical discipline, says AM Best.
Revamped regulations will support Chinese insurers' quality growth and better underlying credit fundamentals in 2024, leading to a neutral sector outlook for both the life and non-life segments, Fitch Ratings says.
Moody's Investors Service yesterday changed to 'Negative" from 'Stable' the outlooks on nine Chinese insurers and a related overseas subsidiary, following Moody's affirmation of the Government of China's issuer rating at 'A1' and change in the outlook to 'Negative' from 'Stable' on 5 December.
The mainland Chinese insurance industry grew by 10.1% in the first 10 months of this year to a cumulative CNY4.52tn ($638bn), according to data released by the National Administration of Financial Regulation (NAFR).
Taikang Group's financial performance is considered as 'Very Strong' due to its consistently profitable results and rapid year-on-year growth in new business value (NBV) in life insurance operations in 1H2023 after the lifting of COVID-19-containment measures, says Fitch Ratings.
The Property & Casualty Insurance Supervision Department of the National Administration of Financial Regulation has issued an exposure draft to steer the growth of green insurance business.