The shareholders of Al Rajhi Company for Cooperative Insurance (Al Rajhi Takaful), one of the five biggest insurers in Saudi Arabia in terms of premiums, have agreed to increase the company's capital by 150% to SAR1bn ($266.6m) from SAR400m.
AM Best is revising its outlook on India's non-life insurance segment to 'Stable' from 'Negative', owing to robust growth potential, driven by economic development and rising insurance demand, and recent regulatory developments.
The Australian Prudential Regulation Authority (APRA) has licensed Ivory Insurance as a general insurer, according to a statement issued by the regulator.
The Insurance Authority (IA) yesterday released claims statistics in relation to the two extreme weather events in early September 2023 - Typhoon Saola and a black rainstorm. According to the data collected from the insurance industry, the total gross claims incurred reached HK$1.9bn ($243m).
Cities in the Asia and Pacific region are vulnerable to climate change due to their geography and particular exposure to natural catastrophes and increasingly extreme weather events, says The Resilient Cities Index 2023 report, released by Tokio Marine Group and the research and business intelligence house, Economist Impact.
AFG Holding has just concluded the purchase of an insurance company in Cote d'Ivoire, according to Mr Romeo Bouba, deputy managing director in charge of the finance department of AFG Holding.
The 15th China Rendezvous marked its notable return after a three-year hiatus when it was held in Beijing on 1 December. This year's theme, "Embracing the New Era of Excellence -- The Future Map for Insurance", highlights the potential of China's insurance industry, the world's second-largest insurance market.
Dubai National Insurance & Reinsurance (DNI) has a track record of strong operating performance, as demonstrated by a five-year (2018-2022) weighted average return-on-equity ratio of 8.2%, says AM Best.
The underwriting performance of Zking Property & Casualty Insurance (ZKI) is expected to remain profitable in 2023, says Fitch Ratings.
AM Best is maintaining a stable outlook on China's non-life insurance segment given the growth momentum in the motor and non-motor segments, as well as the domestic economic recovery following the removal of COVID-19-related restrictions, partially offset by a weaker 2024 economic outlook.