The Insurance and Pension Commission (IPEC) plans to issue a sustainability guideline for insurers and pension funds in 2025,a move that it says will be a strategic milestone for next year.
Residential property rental insurance business is growing with increased demand for daily or short-term rental of residential units during the tourist season in Saudi Arabia.
Allianz Global Corporate and Specialty has appointed Mr Thomas Lillelund as CEO, effective early 2025 and subject to regulatory approval. He will also assume leadership of Allianz Commercial, the Group's integrated global model for serving the commercial property and casualty insurance segment.
New business premiums in the life and general insurance industry recorded double-digit growth in the first half of 2024, exceeding MYR20bn ($4.7bn), said Bank Negara Malaysia (BNM) governor Mr Abdul Rasheed Ghaffour.
COSCO SHIPPING Captive Insurance Co will continue to focus on fixed-income oriented assets, which are expected to provide a stable stream of investment income, says AM Best.
US-headquartered BAM Mutual, the mutual bond insurer focused on reducing the cost of debt sold for essential infrastructure, is opening a Melbourne office and will begin insuring bonds and loans sold to finance projects in Australia and New Zealand.
The African insurance market is experiencing significant transformation driven by various trends that present both opportunities and challenges.
The insurance market in Morocco posted a record first-half turnover of MAD32.4bn ($3.3bn), growing by 4.4% over the first six months of 2023, according to data from the Insurance and Social Welfare Supervisory Authority (ACAPS).
AM Best has revised its outlook on Taiwan's non-life insurance segment to 'Stable' from 'Negative', citing a recovery of capital strength among carriers in 2023 following sizeable COVID-19 pandemic-related losses in the previous year.
Tanzania's Commissioner of Insurance, Dr Baghayo Saqware, has highlighted the significant opportunities in the insurance sector arising from growing demand and favourable business conditions.