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.
The insurance industry's profitability (after-zakat & tax) in the Kingdom of Saudi Arabia (KSA) stood at SAR3.0bn ($800m) in the first nine months of 2024, growing by 15% from SAR2.6bn in the corresponding period in 2023, according to a report by Badri Management Consultancy which provides consulting services in the actuarial, strategic and technology fields.
KB Insurance Co (KBI), South Korea's fourth biggest non-life insurer, maintains an adequate operating performance as adequate, with its return-on-equity and combined ratios being largely in line with its domestic industry average, according to an assessment by AM Best.