Misr Life Insurance Takaful has increased its issued and paid-up capital to EGP400m ($7.5m), in compliance with the implementation of the first phase of the capital increase plan approved by the Financial Regulatory Authority. The first-phase capital increase amounted to EGP250m.
Oil and gas supply shock triggered by the Middle East conflict has led several Southeast Asian countries to ramp up their coal reserves. A recent report, however, reveals that the region's shift back to coal is likely to increase costs sharply rather than reduce them.
Insurance Authority (IA) hosted a Captive Forum meeting in Beijing last month to promote Hong Kong as a captive domicile.
The forecast for region-wide GDP growth in MENA in 2026 has been revised from 3.9% to 3.1%, in line with the base-case assumption that the US-Iran conflict will be time-bound for up to four weeks, said BMI, a UK multinational research firm and a subsidiary of Fitch Solutions.
Continuum, a specialist risk advisory firm focussed on emerging industries, has announced a strategic partnership with Freed Capital Group, a licensed insurance broker in Hong Kong. As part of the partnership, Freed Capital has also made a strategic investment in Continuum.
Markel Insurance, the insurance operations within Markel Group, has opened a new office in Perth and marked the event with the appointments of two Senior Underwriters, Mr Jerome Steyn and Mr Pierre Dagnee.
The two-week ceasefire in the ongoing conflict between Iran and the US and Israel may signal regional stability and important first steps towards a gradual normalisation of flows.
The Australian Prudential Regulation Authority (APRA) has applied an additional A$2m ($1.4m) capital requirement to Sovereign Insurance Australia (SIA), an MGA.
More than four in five insurers (82%) in Singapore say they are ahead of their competitors in adopting digital systems, yet nearly all (98%) acknowledge that legacy technology is constraining business growth, according to research from Clearwater Analytics, a comprehensive investment management technology platform (CWAN).
Organisations globally are continuing to accelerate AI adoption, even as security and compliance risks remain well recognise, according to a study by TrendAI, the enterprise AI security division of Trend Micro.