Shareholders of Abu Dhabi-listed Union Insurance Company have approved the distribution of bonus shares totalling AED20m ($5.45m), increasing the company's capital to AED250m. The approval was given at the company's annual general meeting last week.
The General Insurance Association of Japan (GIAJ) is advancing an industry-wide system to assess the quality of insurance agency operations, its Chairman Shinichiro Funabiki has revealed. The objective is to improve insurance sales practices.
Mr Werner Bugl, a member of the Executive Committee of Ultimate Risk Solutions (URS), has passed. He served URS for more than 12 years, having begun his tenure in 2013.
The Indonesian insurance industry is facing greater and increasing risks amid rising geopolitical tensions, according to the Indonesian Financial Services Authority (OJK).
The Insurance Regulatory Authority's (IRA) announcement that it had placed three insurers under statutory management has drawn the ire of insurance agents.
As the evolution of artificial intelligence technology has made a generational leap from "dialogue generation" to "autonomous action", some insurance institutions have begun to explore implementing AI-powered agent systems similar to OpenClaw, to improve efficiency and service capabilities through "digital employees".
QBE has appointed Mr Reuben Lee as Transactional Liability (TLI) Lead for Asia. He is an M&A and transactional risk insurance specialist with a legal background.
The Financial Services Authority (FSA) has reviewed the key challenges related to insuring industrial facilities during a dialogue session with stakeholders, including insurance companies and owners of industrial companies.
Most rated insurers in the Gulf Cooperation Council (GCC) have sufficiently robust capital buffers to absorb a potential increase in capital market volatility and any war-related claims, as these are either heavily reinsured or subject to exclusion clauses, according to S&P Global Ratings (S&P) in a report on the credit outlook of GCC insurers in the wake of the military confrontation in the Middle East.
Middle East Insurance Review (MEIR), in solidarity with the insurance market, has started a special series named "Middle East Conflict: The MEIR Dialogue" to discuss the insurance impact of the armed confrontation across MENA as well as globally. MEIR kicks off the series with a video interview with Mr Yassir Albaharna, Group CEO of Trust International Insurance & Reinsurance Co (Trust Re).