Insurers are aware that their legacy products are becoming an increasing cost burden relative to the value they provide to the insurance company and the customer as the book shrinks, according to a report released by global professional services firm Deloitte.
Taikang Insurance Group, one of China's biggest unlisted insurance groups, is assessed to have a strong financial performance, according to Fitch Ratings.
The rapid development of low-altitude aircraft and their applications is expected to drive insurance growth, says Swiss Re Institute (SRI) in a new report.
The slowdown in premium increases within the commercial insurance market has continued in recent months, with indications that the New Zealand market is now entering a softer market phase, says Gallagher New Zealand (formerly known as Crombie Lockwood).
IAG, one of Australia's leading general insurers, and RACQ have announced that IAG will acquire 90% of RACQ's existing insurance underwriting business, with an option to acquire the remaining 10% in two years on consistent terms. The consideration amounts to A$855m ($555m).
CTBC Insurance Company continues to make efforts to improve technical results by underwriting initiatives through refined risk selection and controlled risk appetite, says AM Best.
Gross written premiums generated from bancassurance grew to KES35bn ($270m) in 2023 from KES19.5bn in 2019, climbing by 79.4%, according to the findings of a study released by the Association of Kenya Insurers (AKI).
The 11th Middle East Insurance Industry Awards (MIIA) honoured 19 exceptional winners yesterday in a ceremony at Altantis the Palm, Dubai, United Arab Emirates.
Premiums in the Egyptian insurance market jumped by 25.6% year on year to exceed EGP69bn ($1.4bn) in the first nine months of this year, according to data from the Financial Regulatory Authority (FRA).
The Indian government plans to amend insurance laws in the ongoing session of Parliament to facilitate a unified licence for insurers and raise the foreign direct investment (FDI) limit to 100% from the current 74%, reported Reuters quoting two government sources.