The new minimum capital requirement of SAR300m ($80m) for insurance companies in Saudi Arabia by the end of 2024 puts at least five insurers on the radar, according to Insurance Monitor, a research and consulting firm.
AIA Group (AIA or the Group) has opened its redeveloped group headquarters at 1 Stubbs Road, Wan Chai in Hong Kong. The AIA Building is Hong Kong's first urban campus and is wholly owned, operated and solely occupied by AIA.
The insurance industry saw its net income soar by 45% to more than PHP14.29bn ($246m) in the first quarter of this year, compared to PHP9.86bn in the corresponding quarter in 2023, according to data from the Insurance Commission (IC).
China alone will generate around 17% of the overall global additional premiums, adding $256bn between 2025 and 2034, according to Swiss Re Institute (SRI).
The Australian Medical Association (AMA) urges, in the strongest possible terms, that the Australian Prudential Regulation Authority (APRA) scrap proposed changes to quarterly private health insurance statistics publications and continue to publish them in their current form.
The government is planning to launch a centralised platform that would process health insurance claims across hospitals all over the country.
The Tanzania Insurance Regulatory Authority (TIRA) is encouraging the registration of healthcare providers in the country to facilitate identifying them and rendering them help when needed, such as when they are not paid on time or in full by insurers. Registration can be carried out online nationwide.
The insurance industry in Qatar is urged to address the changes that have taken place in the sector since the 2022 World Cup.
The Insurance Federation of Egypt (IFE) is reviewing the role of life insurance companies in dealing with the risks of climate change and ways to improve their functions in this arena.
Manulife Hong Kong has announced a two-year strategic partnership with Mind HK, a Hong Kong-based mental health charity, to raise public awareness of the importance of mental health and to influence the development of mental health support services in Hong Kong.