The National Insurance Commission (NAICOM) has directed insurance companies to settle all outstanding claims by 31 December 2024, in a move to ensure industry credibility and sustainable growth.
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).
Critical illness cases accounted for nearly half of Prudential's claims payouts in Hong Kong in the first half of this year, according to data released by the insurer.
Liberty Mutal Insurance has appointed to its recently formed APAC team Mr David Tam as chief information officer; Mr Robert Mercer as head of claims; Mr Tibor Nagy as CFO, effective 6 January 2025 and Ms Vidhi Kapoor as regional head of HR, effective 6 January 2025.
The chairman of the Nigerian Insurers Association (NIA), Mr Kunle Ahmed, has unveiled a strategy to transform challenges into opportunities for the insurance industry.
Total insurance premiums in Jordan in the past nine months of this year amounted to JOD603m ($851m), an increase of about 4.9% compared to the corresponding period in 2023, according to statistics released by the Central Bank of Jordan.
Australia's House Standing Committee on Economics has released 86 recommendations in a report on an inquiry into insurers' responses to 2022 major floods claims.
More than two in five (42%) insurance policyholders in China say that they would be deterred from purchasing insurance from the same insurer again, if their claims were denied, according to the findings of a survey commissioned by Hong Kong-based reinsurer Peak Re.
MSIG has appointed Mr Christian Kolmberger as senior vice president, underwriting, reinsurance and claims and Mr Rajnish Pal as senior vice president and head of transformation.
Shanghai's property insurance sector had received a total of 58,700 claims totalling CNY1.225bn ($175m) as of 15:00 on 24 September 2024 for damages arising from typhoons Bebinca and Pulasan, according to the Shanghai Insurance Association.