The Vietnamese government has issued a decree to regulate microinsurance.
The National Insurance Commission (NAICOM) has licensed eight microinsurers and four takaful companies in a bid to improve inancial inclusion gap.
The Nepal Insurance Authority (NIA) has awarded licences to two companies to engage in microinsurance services.
Nepal Insurance Authority (NIA) has issued license of operations to two microinsurance companies, Guardian Micro Life Insurance and Nepal Micro Insurance.
The Insurance and Social Welfare Supervisory Authority (ACAPS) is preparing a new training system for insurance intermediaries and payments companies that are new entrants to the microinsurance market.
Dr Islam Azzam, vice chairman of the Financial Regulatory Authority (FRA), has said that the draft comprehensive insurance law is scheduled to be discussed in the plenary session of the House of Representatives within two months.
The total surplus from insurance activity for insurance companies in Egypt jumped by 53.6% to reach EGP8.6bn ($278.3m) in the fiscal year ended 30 June 2022 (FY2022), compared to EGP5.6bn in FY2021, Dr Mohamed Farid, chairman of the Financial Regulatory Authority (FRA) has revealed.
Wafacash, which offers payments services, has launched microinsurance products, being one of the first few entities in Morocco to distribute such plans.
Statistics released by the Financial Supervisory Commission (FSC) show that 28 insurance companies engaged in microinsurance business while 16 life insurers offered small-amount wholelife insurance as of 31 December 2022.
The entry of new players into the Indian insurance market is needed so that every citizen has insurance cover, according to Mr Debasish Panda, IRDAI chairman.